|Birth name||Donald John Trump|
|Born on||June 14, 1946|
|Net worth||$2.5 billion|
|Source of wealth||Real Estate|
|Education||University of Pennsylvania|
|Residence||Palm Beach, Florida|
We all know Donald Trump as the former president of the United States. But did you know that Trump is a billionaire and is one of the world’s richest people? As of March 2022, Donald Trump net worth is $2.5 billion. He was the only billionaire president in the history of the United States. He’s also the country’s richest president ever. Trump was included in the list of the 400 wealthiest Americans by Forbes every year, from 1997 to 2016.
Donald Trump’s fortune comes from The Trump Organization, a conglomerate with about 500 business entities that was founded by his father Fred Trump. It has interests in real estate, hotels, golf courses, food and beverage among other sectors. Trump is ranked #1228 on the list of the world’s richest people by Forbes. He’s the 33rd wealthiest real estate billionaire in America. In 2018, while serving as the 45th U.S president, Trump was the world’s 3rd most powerful person after Xi Jin Ping and Vladimir Putin
Donald Trump net worth is equivalent to 0.0111% of the GDP of America and 0.0299% of the total wealth of the world’s 500 richest people. With his fortune, Trump can buy 1.4 million troy ounces of gold. He hosted the reality tv show, The Apprentice during its initial 14 seasons and was paid $100,000 for every episode. This is how Donald Trump net worth has changed over the last couple of years.
So, how did Trump become a billionaire? How does he make and spend his money? Continue reading to find out.
Early Life and Education
Donald Trump was born on June 14, 1946, in Queens, New York to Fred Trump, a real estate developer, and Mary Anne Trump. He attended Kew-Forest School and later joined the New York Military Academy at the age of 13. Trump later joined Fordham University and transferred to the University of Pennsylvania 2 years later. In 1968 he graduated with a Bachelor of Science in economics.
Donald Trump has 4 siblings, Fred Trump Jr. (a former pilot who died in 1981), Maryanne Trump Barry (a former U.S federal judge), Elizabeth, and a younger brother, Robert Trump who was a businessman and investor. He died in 2020 at the age of 71.
Also Read: Joe Biden net worth
How Donald Trump built his fortune
Donald Trump is not entirely self-made. According to a 2018 report in the New York Times Donald Trump received close to $500 million as an inheritance from his father and was already a millionaire in 1982. However, he claims that he only borrowed a $1 million loan from his father and built his real estate empire. Trump being the controversial man he is it’s hard to know if he’s telling the truth.
Donald Trump is the owner of The Trump Organization, which is his main source of wealth. After graduating from the university in 1968, he joined his father’s real estate business. He became the company’s president in 1971 and renamed it The Trump Organization. He then expanded its operations by constructing and modernizing skyscrapers, golf courses, casinos as well as hotels. Today the company has diversified to many other sectors such as online travel, financial services, business education, casinos, and the fashion industry among others. It is estimated that the company had more than $450 million in revenue in 2020.
About half of Trump’s net worth comes from his real estate holdings in New York City. He also owns properties in other parts of America as well as other countries, which contribute to his current $2.5 billion net worth.
Properties in NYC owned by Donald Trump
- The Trump Tower, a 58-floor skyscraper in Midtown Manhattan which serves as the headquarters of the Trump organization. It has a three-story penthouse that served as the main residence for Donald Trump until 2019. Forbes estimates that the building including the $46 million Trump’s penthouse has a total value of about $330 million.
- The Trump World Tower, also in midtown Manhattan is valued at $26 million.
- 6 East 57th Street valued at $147 million
- The Trump International Hotel & Tower is valued at $8 million.
- The Trump Park Avenue with a total value of $126 million. The billionaire owns 23 apartments in the building which he rents for $100,000 a month.
- 1290 Avenue of the Americas which is valued at about $2.1 billion. Donald Trump owns 30% of the building.
- 40 Wall Street valued at approximately $324 million.
- The Trump Plaza which Forbes values at $24 million.
- Trump Parc valued at $40 million
Properties in other states
- The Trump International Hotel Las Vegas. Donald Trump owns 50% of the hotel which is equivalent to about $58 million. Phil Ruffin owns the other 50% of the property.
- Trump International Hotel & Tower Chicago. Trump’s stake is worth $55 million.
- Trump International Hotel Washington is valued at $173 million. Trump owns a 77% stake.
- 555 California Street, a three-building complex valued at $900 million. The former president owns 30% valued at about $257 million.
- Trump Winery in Virginia with an estimated value of $30 million.
The Trump Organization manages and owns a total of 17 golf clubs and resorts in America and 3 other countries, Ireland, Scotland, and the United Arab Emirates. It has 10 golf courses across 6 states in the United States which are worth a total of $199 million. Some of the resorts in the United States include
- The Trump National Doral Miami has 5 golf courses, 700 hotel rooms, retail outlets and sits on 800 acres of land. Forbes estimates that the property is worth $154 million.
- Mar-a-Lago, a $300 million private resort in Palm Beach, Florida.
Did you know that there are many buildings that have Donald Trump’s name but are not owned by him? Many developers pay the billionaire in order to use his name on their properties. Some of these real estate projects include Trump Hollywood in Florida, Trump Park Residences in New York, Trump Towers Pune in India, Trump World Seoul in Korea among many others.
While serving as the President of the United States, Trump received an annual salary of $400,000 and gave it all out to charity. He now receives an annual pension of $200,000 which every former president of the country is entitled to.
His massive real estate portfolio plus cash and other liquid assets which are estimated to be worth about $296 million make up Donald Trump $2.5 billion net worth.
How does Donald Trump spend his billions?
Donald Trump owns a 213-acre property in Bedford New York known as Seven Springs which he bought in 1996 for $7.5 million. The estate has a 15-bedroom mansion, 50,000 square feet of living space, three swimming pools, and a bowling alley. He also owns a 5-bedroom mansion in Beverly Hills which he purchased in 2007 for $7 million and a $13 million home in St. Martin. According to Forbes, the billionaire owns three homes in Florida which are believed to be worth about $63 million in total.
Donald Trump owns several automobiles. He owns a 2003 Mercedes Benz SLR McLaren which costs $445,000, a 2015 Rolls Royce Phantom worth about $500,000, a 1997 Lamborghini Diablo VT, a Mercedes Maybach S600, a Tesla Roadster, and a 2016 Cadillac escalade. He also owns a 2011 Chevrolet Camaro Indianapolis 500 as well as a 1956 Rolls-Royce silver cloud which was one of the billionaire’s initial cars.
Donald Trump owns a Boeing 757 private jet nicknamed Trump Force One which he acquired for $100 million in 2010. It is one of the world’s most powerful planes with two Rolls-Royce engines that can propel it to speeds of more than 800 mph. It’s the 8th most expensive plane in the world according to Top Trending. In 2011 the billionaire bought a Sikorsky s-76 helicopter for an estimated $7 million and spent another $750,000 to have it customized including being fitted with gold finishes and golden seatbelts. He later acquired 2 other such helicopters which means that he now owns 3 helicopters.
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According to Forbes, the billionaire is in a debt of about $1.3 billion as of last year, most of which is due in the next few years. He owes more than $600 million to banks and trust organizations such as Bank of China, Deutsche Bank, and UBS. He also owns more than $400 million to unspecified creditors.
Some of the properties owned by Trump and are in debt include:
- The Trump Tower $100 million due 2022
- Trump Plaza $13 million due 2024
- Trump International Hotel Washington $170 million due 2024
- 40 Wall Street $134 million due 2025
- Trump National Doral $125 million due 2023.
Donald Trump is married to Melania Knauss, a model from Slovenia. The two tied the knot in 2005 and have one kid, Barron Trump who was born in 2006. The billionaire first got married in 1977 to model Ivana Zelnickova. They divorced in 1992 and had 3 children, Donald Jr. (born 1977), Ivanka (born 1981), and Eric (born 1984). Trump then married actress Marla Maples in 1993 with whom he had an affair while in his first marriage. They had one daughter (Tiffany born in 1993) and divorced in 1999.
Trump has stated that he has never used any drugs, including cigarettes or alcohol. His favorite hobby is playing golf and regards golfing as his main form of exercise. In 2019 he changed his official residence from the Trump Tower’s New York penthouse to the Mar-a-Lago resort in Palm Beach, Florida.
Also read: The 10 richest American presidents
In 2004, Donald Trump founded the Trump University which offered paid real estate courses that ranged from $1500 to $35,000. He later renamed it to Trump Entrepreneur Initiative in 2010 after being notified that he was infringing state law by using the word university. The company was also accused of lying and defrauding its students.
In 1988 Donald Trump founded a charity called Donald J. Trump which ceased operations in 2018. Trump is accused of embezzling the foundation’s funds and even using them to fund his 2016 presidential campaign. Donald Trump did not give any funds to the charity from 2009 to 2014. In fact, before its disbandment, the foundation was funded by other sponsors other than Trump himself.
The Trump organization is facing at least 10 counts for an alleged 15-year tax avoidance plan. New York detectives began investigating the organization before 2019 for potential financial deceit. As of 2022, the company is still under investigation.
Donald Trump net worth is an estimated $2.5 billion according to Forbes. The billionaire has however said that his wealth is much higher than that. Earlier this year he stated that his net worth was approximately $8 to $9 billion. We might not know whether this is true or not but we know that he has built a real estate empire through a company that he inherited from his father. Below are a few quotes by Donald Trump.
- “What separates the winners from the losers is how a person reacts to each new twist of fate.”
- “Money was never a big motivation for me, except as a way to keep score. The real excitement is playing the game.”
- “It’s tangible, it’s solid, it’s beautiful. It’s artistic, from my standpoint, and I just love real estate.”
- “In the end, you’re measured not by how much you undertake but by what you finally accomplish.”
- “Everything in life is luck.”
- “You know the funny thing; I don’t get along with rich people. I get along with the middle class and the poor people better than I get along with the rich people.”
- “I’ve been making deals all my life.”
- “I don’t make deals for the money. I’ve got enough, much more than I’ll ever need. I do it to do it.”
- “I try to learn from the past, but I plan for the future by focusing exclusively on the present. That’s where the fun is.”
- “Sometimes by losing a battle you find a new way to win the war.”