We all know who Donald Trump is. If you don’t, you’ve clearly been living under a rock for the last 4 years. Real estate mogul, turned movie star, turned The Apprentice US host, turned… US President. But what we don’t all know, is exactly how he got to where he is, and how much he’s worth. The 45th US President likes to brag that he’s “really rich”, and that he’s “always been good at making money”, so what is Donald Trump’s net worth?
How Donald Trump made his net worth
The majority of Donald Trump’s net worth comes from a collection of buildings that he owns in and around Manhattan, such as the former bank of Manhattan, the Plaza Hotel, Trump Tower, and other buildings that he has since sold his shares in like the Grand Hyatt, which he actually saved from bankruptcy. He learnt the trade of real estate from his father and has built on everything he was taught to help him reach where he is now, the USA’s first billionaire president.
But that isn’t the only source of Donald Trump’s net worth, he also owns several golf courses both in the US and over in Scotland (where his mother was born). He owns 15 golf courses, these are in New York, New Jersey, Washington D.C, North Carolina, Florida, California, and Aberdeen. However, the New York Times has also found that, since 2000, his courses have lost him $316.5 million. So maybe the number of courses will go down soon! But as it stands, what does all of this accumulate to?
Well, according to Forbes, as of 18th January 2021, his net worth is approximately $2.5 billion. Or $3.66 billion before debt.
Where is that all coming from? (Well, besides the small loan of a million dollars his father once gave him.)
How did DonaldTrump’s family help his net worth?
Considering that Donald Trump was technically a millionaire by age 8, it is clear that as much as he’d like to claim it was all ‘gumption’ and game, his father had a large role in Trump’s wealth. By the time Donald Trump was 17, his father had given him ownership of a 52-unit apartment building. Once he had graduated from college, he was getting what would now be $1 million a year from his father. By his 40s and 50s, this was closer to $5 million.
Financial records show, in fact, that Trump received at least $413 million from his father’s real estate empire.
Aside from what we’ve already gone through, Fred Trump helped his son (and other children) out by making them salaried employees, and Donald was also his property manager, landlord, consultant and banker. Fred Trump paid for Donald’s car, provided money for stocks, offices, renovations, and even shares in partnerships.
As if that wasn’t enough, Fred gave Donald $10,000 Christmas checks, laundry revenue, and trust funds. But the biggest help Fred Trump gave his son was after he passed, when the Trump siblings sold off their father’s empire (that he took 70 years to assemble, hoping his family would benefit from it for a long time…). Donald Trump’s cut was $117.3 million.
What about his current family?
Ivanka, Donald’s daughter, is worth $300 million. She is associated with her father’s businesses, having been his adviser. She has spent time as the Executive VP for the Trump Organisation, has managed interior design for the Trump Hotels, and has entered the fashion business with her own jewellery and handbag designs!
Donald’s current wife, Melania is worth $50 million. But this is not to his credit, as she was rich before meeting the 45th President. She became a successful model known as the ‘Slovenia Sphinx’ at 16, working in Paris and in Milan before she moved to New York City. On top of that, she had a jewellery collection and skincare range.
Less is heard of Tiffany Trump, who has just graduated from Georgetown Law School. But she has hinted at entering the real estate business like her father.
Donald Jr and Eric Trump
The two boys, according to Forbes, are worth $25 million each in net worth.
Before Melania, Donald Trump had married Ivana, and then Marla. Both women got payouts in the divorce, with 1st wife Ivana leaving $14 – $25 million richer, and Marla pocketing $1 – $5 million.
However, none of this seems to feed directly into Trump’s net worth, so what does?
Donald Trump net worth breakdown
$2.5 billion is a huge number, but how does this add up?
Commercial real estate – $1.2 billion. ($1.9 billion before the pandemic)
Residential real estate – $148 million ($235 million before the pandemic)
Hospitality – $38 million ($107 million before the pandemic)
Hotel licensing and management – $42 million
Golf courses – $217 million ($271 million before the pandemic)
Other properties – $295 million
Cash – $160 million
Due to the nature of Donald Trump’s businesses, getting a full breakdown – or even a full net worth, for that matter – is no easy task. However, even with all the information out there, his own claims on his net worth seem a little inflated!
Nevertheless, Forbes awarded Donald Trump five out of 10 on its self-made scale, a number the publication says indicates that he “inherited a small or medium-size business and made it into a ten-digit fortune”.