Donald Trump Net Worth in 2020: Donald Trump is an American politician, real estate developer, author and television personality who has a net worth of $ 3.1 billion. He earned his fortune as owner of The Trump Organization, a real estate and licensing conglomerate. The Trump Organization has commercial and residential properties worldwide, mainly golf courses in the United States, Scotland and Ireland. In November 2016, Donald Trump defeated Hillary Clinton to become the 45th President of the United States.
Salary: As president, he is entitled to an annual salary of $ 400,000. He donates almost $ 1 of that salary to charity. When he was a television star, his annual salary for “Celebrity Apprentice” was $ 60 million.
Early life: Donald John Trump was born on June 14, 1946, the son of millionaire low-income real estate tycoon Fred Trump. Fred Trump and Donald’s grandmother Elizabeth started building and selling houses. The company, which was incorporated as Elizabeth Trump & Son in 1927, builds large batches of single-family homes in Queens. The company has grown to own and manage more than 27,000 rental units along the east coast, mainly in the neighborhoods surrounding New York City.
Donald briefly attended Kew-Forest School in Forest Hills, but at 13 he was sent to the Military Academy in New York. In college, he attended Fordham University and the Wharton School of Finance at the University of Pennsylvania, where he graduated in 1968 in economics.
After graduating from college, Donald returned to New York, where he went to work for his father’s company, which would later be known as The Trump Organization. In the 1970s, the Trumps made a fortune, owning and renting middle and lower class housing in neighboring New York neighborhoods such as Brooklyn, Staten Island and Queens.
Through shares in his father’s company that were reserved for each child at various ages, Donald Trump was technically a millionaire on paper in 1954, when he was just 8 years old.
In 1976, Fred Trump created $ 1 million trust funds for each of his children and three great-grandchildren. This is the same as about $ 5 million in dollars today. The funds paid annual dividends on profits earned from Elizabeth Trump & Son’s income and property sales.
In 1982, Donald and Fred co-starred in the Forbes 400 inaugural list of the richest Americans, with a combined net worth of $ 200 million, the same as today about $ 500 million. After adjusting for inflation, each Trump brother received about $ 413 million from Fred Trump for inheritance and dividends when he died in 1999.
Independent Success: Interested in moving the family empire out of outside districts and into Manhattan in 1976, with his newly created trust fund and an additional loan from his father, Donald attacked on his own. In the coming decades, Fred would lend Donald at least $ 60 million for several projects, many of which were loans that were never paid.
One of his previous major independent successes was the 1976 renovation of the Commodore Hotel at today’s Grand Hyatt New York. At the time, New York was in the midst of a deep economic depression. In the previous year, the Commodore lost more than $ 1.5 million in its operations. The Trump Organization, under Donald’s direction, spent $ 100 million on property reform over the next four years. It was generally seen as an extremely successful and positive reform for the property and the city in general. Donald sold his 50% stake in the building to his partners, the Pritzker family, for $ 142 million in 1996.
In 1982, Donald started building what would become a 58-story skyscraper on Fifth Avenue, now known as Trump Tower. Trump Tower has 238 residential units, three restaurants and several retail stores on the first floor. The top three floors are a triplex unit that has served as Donald’s personal residence in New York City for decades. In 2006, Forbes valued the Trump Tower at $ 318 million, or $ 288 million after the removal of Trump’s $ 30 million mortgage on the property. In 2015, thanks to the luxury Gucci store, the building’s value almost doubled to $ 600 million. Today, with a slight drop in New York real estate values and a $ 100 million mortgage, the property is probably worth $ 400 to $ 500 million.
In New York City, he also owns the Trump World Tower, the Trump Place Trump International. He already owned The Plaza Hotel. Many of the hotels and condominiums under the Trump name are currently licensing agreements, in which other owners pay the Trump Organization a fee to use the Trump name and often to operate the building’s leasing / sales / operations.
In the late 1980s, Donald expanded his portfolio to Atlantic City, where he built several casino properties. Its flagship, the Trump Taj Mahal Casino, opened in 1990. Casinos were ventures that always lost money and required financial bailouts from Fred Trump. Trump casino and resort developments filed for bankruptcy several times between 1991 and 2009.
Other notable Trump real estate assets today include:
- Trump Winery in Charlottesville, Virginia, which also serves as a boutique hotel
- Trump Doral – a golf club in Miami
- Trump Chicago – a luxury hotel / condo complex
- 40 Wall Street in New York
- Trump International Golf Links in Aberdeen, Scotland
- Additional golf courses / resorts in Ireland, Ferry Point, New York, Turnberry, Scotland, Los Angeles, Dubai, Bedminster, New Jersey, among others…
His personal financial disclosure for May 2016 showed at least $ 1.4 billion in assets, $ 300 million in golf course and resort revenues, $ 100 million in rent, and at least several hundred million in mortgage liabilities.
Books and TV shows: Donald is the author of several books, including bestsellers “The Art of the Deal”, “Trump 101: The Road to Success” and “The America We Deserve”.
In 2004, Donald teamed up with Mark Burnett Productions to create a reality show for NBC called “The Apprentice”. The show debuted in January 2004 and ended up spawning several spinoffs and reboots, including “The Celebrity Apprentice”. Trump also won two Emmy Awards for his work on The Apprentice.
Statements of lawsuits would later reveal that Donald earned $ 60 million a season from NBC’s The Apprentice. He received a star on the Hollywood Walk of Fame in 2007.
Relationships and Children: Donald married Ivana Zelnickova (later Ivana Trump) in 1977. Together, they had three children; Donald Jr., Ivanka and Eric. The couple separated in 1992 and in 1993 he married his highly publicized lover, Marla Maples, who gave birth to a daughter, Tiffany. They divorced in 1999. In 2004, Trump married supermodel Melania Knauss, who gave birth to her fifth son, William Barron Trump, in 2006.
Donald Trump Net Worth – Is it $ 3 billion? $ 9 billion? $ 15 billion ?: In June 2015, Donald announced that he was running for president. With his announcement, he released an estimate of his personal wealth that attributed his net worth to $ 8 – 10 billion. The main reason why this equity differs from the generally more accepted assessments of his wealth is related to the way Donald values his personal brand. In his net worth estimate, Donald valued his personal brand at $ 3.3 billion. Other analysts value the brand at more than $ 50 or $ 100 million.
As mentioned earlier, in 1982, Donald and his father were listed among the wealthiest Americans, with a combined net worth of $ 200 million, approximately $ 500 million in today’s dollars. Financial problems and housing slowdowns in the 1980s caused Donald to drop the list of the 400 richest Americans over most of the 1990s.
As of the time of this writing, his net worth of $ 3.1 billion makes him approximately the 720th richest person in the world and the 260th richest person in America.
Over the years, Trump’s net worth, as reported by Forbes and companies like Celebrity Net Worth, has gained contempt from Trump himself. In 2009, an author named Timothy O’Brien released a book called “TrumpNation: The Art of Being Donald”, in which he estimated that Donald’s true net worth was not in the billions, but was close to $ 150 a year. $ 250 million. Trump was furious at the allegation and sued O’Brien and his publisher for $ 5 billion for committing “real malice”, citing three sources unidentified by his much lower net worth estimate. Although Trump’s lawyers claimed that his client’s net worth was “conclusively proven” at $ 7 billion, Trump himself was not so confident when he was under testimony. During the deposition, Trump declared:
“My net worth fluctuates, and goes up and down with markets, attitudes and feelings, even my own feelings … Yes, even my own feelings, about where the world is, where it is going and which can change rapidly day by day. So you have 9/11, and you don’t feel so good about yourself and you don’t feel so good about the world and you don’t feel so good about New York City. So you have a year later, and the city is as hot as a pistol. Even months after that, it was a different feeling. So yes, even my own feelings affect my worth to me.“
Forbes’ net worth estimate of Donald Trump’s net worth reached $ 4.5 billion in 2017. Forbes lowered its estimate to $ 3 billion in 2019. Forbes reported that the brand and real estate value of Donald has declined since he became president due to his personal controversies. Fortune magazine stated otherwise, attributing its net worth to $ 3.3 billion, an increase of $ 300 million since the day it was elected.
When Celebrity Net Worth started tracking Donald’s wealth in 2009, we estimated his fortune to be $ 1.5 billion. Our most recent estimate is $ 3.1 billion.
Personal real estate holdingsBefore becoming president and moving to the White House, Donald’s longtime principal residence was a 30,000-square-foot triplex penthouse atop his Trump tower of the same name on New York’s Fifth Avenue. The apartment is famous for gold, marble and diamonds with Italian frescoes on the ceiling. This condo is worth at least $ 100 million. Perhaps more than $ 150-200 million, thanks to accessories and luxury notoriety.
Not far from Trump Tower, Donald owns several units in a building called Trump Park Avenue, overlooking Central Park.
He also owns a 213-acre property called Seven Springs, located in Westchester County, New York. He bought this property in 1995 for $ 7.5 million. He allowed Libyan dictator Moammar Gadhafi to remain on the property in a large Bedouin-style tent when he was in the city for the United Nations General Assembly.
In the 1980s, Trump paid $ 10 million for a 17-acre Florida property called Mar-a-Lago, which he called the “Winter White House” during his time as President. Technically, he acquired the property in two transactions, totaling $ 10 million, as we will explain below.
Mar-a-Lago: Mar-a-Lago was built between 1924 and 1927 by the cereal heiress Marjorie Merriweather Post. She spent $ 7 million in 1920s dollars on the construction of the mansion. This is the same as $ 101 million in dollars adjusted for today’s inflation. After his death in 1973, Post donated the 17-acre property to the United States government, hoping it would be used as a Winter White House. The federal government soon realized that the cost of maintaining this property was enormous and decided to decline the gift. The Post Foundation tried to sell the property in 1981 for $ 20 million, the same as $ 56 million in today’s dollars. The daughters of the posts did not maintain the property and it quickly deteriorated.
By that time, Trump tried unsuccessfully to buy a number of properties nearby. After meeting Mar-a-Lago through friends, he offered the Post Foundation $ 15 million, but they declined.
Trump began buying land between Mar-a-Lago and the ocean for $ 2 million from Jack Massey, a former KFC owner, and announced his intention to build a large mansion on the plot. If he followed that plan, the views of the ocean from Mar-a-Lago would have been completely obstructed and, as such, all remaining interest in the sale would die. Trump ended up buying Mar-a-Lago successfully for $ 7 million in 1985. He went on to renew the state at a cost of many millions of dollars. He added a 6,000 m2 ballroom, a pool by the sea and five clay tennis courts.
After facing severe financial problems in the wake of a divorce and a dizzying decline in New York property values in the 1990s, Trump was forced to make a deal with his creditors bankers that he would subdivide property into private homes, which he would sell to raise funds. When Palm Beach residents heard of this plan, they were furious and pressured the city council to reject this concept. As a consolation, he decided to turn the property into a private club.
Today, the 126-room, 62,500-square-foot mansion is a member-only club with hotel amenities, including rooms and a spa. If it were put up for sale in a medium market, it would raise at least $ 160 – 200 million.
summary: Donald Trump’s net worth is $ 3.1 billion to date. He is a real estate developer, author and politician who was elected President of the United States in November 2016.