Love him or hate him, Donald Trump is one of the most famous people in the world. Long before he became the 45º United States President Trump has been on the news for years; no, decades.
In addition to politics, the President of the United States is best known as a real estate tycoon, TV star and entrepreneur in various sectors. Between 1996 and 2015, he was the owner of the Miss USA and Miss Universe beauty contests, co-authored several book titles, such as “The Art of the Deal”, owns or owns several skyscrapers, casinos and hotels in all over the world, and he was the producer and host of The Apprentice; just to name a few of your ventures.
Donald Trump has accumulated a substantial fortune. The current occupant of 1600 Pennsylvania Avenue is currently estimated to have a net worth of $ 3.1 billion.
He is the first billionaire to serve as the United States commander-in-chief.
Donald Trump: The Facts
|Net worth:||$ 3.1 billion|
|Dn:||June 14, 1946|
|Country of origin:||United States of America|
|Source of wealth:||Real Estate|
Trump’s early years
Donald John Trump, son of Mary Anne MacLeod and Frederick Trump, was born in 1946 in Queens, New York. His father was a New York real estate tycoon, so Trump has been used to having money since he was born. Some may say that he was born with a silver spoon in his mouth.
Trump graduated from the New York Military Academy, a private boarding school where he was enrolled when his parents found out he was traveling to Manhattan without permission. He later attended Fordham University for two years and then the University of Pennsylvania’s Wharton School, from which he graduated in 1968 with a degree in economics. While attending college, he also worked at Elizabeth Trump & Son, his family’s real estate company.
Trump Net Worth
In 1982, Donald Trump appeared the first time Forbes List, who listed the richest people in the world. He was added to the list because he owned a portion of his family’s $ 200 million fortune.
However, he did not remain on the list, as he suffered several financial losses in the 1980s and, as a result, Forbes did not include him as one of the richest people in the world between 1990 and 1995. It was reported that his losses led him to borrow money against his brothers’ trust relationships.
He was later added back to Forbes List, as he pursued several commercial ventures that supposedly allowed him to restore his wealth. In 2015, it was estimated that he had a net worth of $ 7.6 billion; however, in 2017, its net worth was estimated at approximately $ 3.1 billion, making it 248º richest person in the United States that year.
Trump coverage in Manhattan
Why did your net worth decline? According to Forbes, there are three main factors that have affected its wealth. These factors include:
- Changes in economic sanctions that negatively impacted the real estate and retail sectors, which made them less profitable.
- Details disclosed about the current president’s net worth that contradict what he may actually be worth; for example, while campaigning in 2015, he claimed it was worth $ 10 billion, but Forbes found that it was actually worth $ 7.6 billion. In addition, the amount he owes investors, creditors and employees is not known and has probably affected his wealth.
- His political position and position on many important issues that affect the world, such as his views on climate change.
According to Forbes financial experts, Donald Trump’s net worth continues to decline, despite the fact that he tried to guarantee and increase his earnings while serving as president (something he shouldn’t do).
For example, he continues to receive donations for his re-election campaign, and that money was used to finance his business. When asked about the Trump wealth report, the Trump Organization did not respond; however, his son Eric declared that his father sacrificed a lot when he left the Trump Organization to enter politics and said the president has had nothing to do with his business since taking office.
The White House was also late with its response to the Forbes report and refuted the information.
It can also be assumed that the investigations surrounding Trump have also affected his wealth. In addition, his association with several scandals probably affected his financial situation.
How Trump earned his money
Regarding his financial situation, Donald Trump started off on the right foot, thanks to his father, Fred Trump. Fred was a real estate tycoon who built and sold houses to soldiers and their families when they returned from World War II. In fact, Trump’s first business dealings were with his father’s real estate company. He took over the operations of Elizabeth Trump & Son in 1971, who later renamed the Trump Organization.
Trump initially dealt primarily with real estate investments, including apartment buildings, condominium associations and housing supported by the Federal Housing Administration (FHA). However, in 1980, he expanded his business when he joined Harrah’s Casino Resorts’ parent company, Holiday Inn, Corp., to develop a complex of casinos and hotels in Atlantic City.
The casino, Harrah’s at Trump Plaza, was valued at $ 250 million. Eventually, Donald bought his partners and updated the Atlantic City casino name to Trump Plaza Hotel and Casino.
The success of this property led him to buy another property, also in Atlantic City. He spent $ 320 million on the second property, which he bought from Hilton Hotels. When he failed to obtain a gambling license, he renamed the Trump Castle property as it could not be used as a casino.
Trump Plaza in Atlantic City
In 1988, Trump made another mega property purchase; the Plaza Hotel in Manhattan. The property cost about $ 400 million and he invested $ 50 million in renovations.
The Plaza Hotel in New York
Despite the declines in the 1990s, when he almost went bankrupt, Donald Trump managed to build a profitable real estate business, in addition to several other commercial ventures.
Today, its wealth is supported by a variety of sources, including:
- Revenue from the properties he owns in New York City, which make up an estimated $ 1.5 billion of his wealth.
- Ticket sales for the Carousel Central Par and ice skating rink, which total more than $ 13 million in revenue.
- The Trump brand and licensing represents approximately $ 170 million of its net worth.
- Other properties he owns outside of Manhattan, including golf and country clubs around the world, including Scotland, which are estimated to bring in hundreds of millions of dollars.
- Mar-a-Lago, Palm Beach’s private club, worth about $ 160 million.
- Your money and personal assets, which are supposed to represent $ 320 million of your wealth. These assets include a private fleet of aircraft, luxury vehicles, yachts and their various private homes, including their coverage at Trump Tower (valued at $ 57 million) and their three properties near Mar-a-Lago (valued at $ 36 million).
Weddings, Divorces and Rumors
Donald Trump’s business, equity and political positions are not the only things that have caught his attention over the years. He was also involved in high-level relationships, including three marriages (two of which ended in divorce) and several alleged cases.
Donald’s first wife as Ivana, whom he married in 1977. She is the mother of his first three children, Donald Jr, Ivanka and Eric. For just over a decade, the couple got married and she helped him in business; she oversaw the renovation and remodeling of The Plaza Hotel, for example. However, the marriage started to fall apart when Ivana’s rumors started circulating about her affair with Marla Maples, a model. Donald and Ivana were discovered in 1991.
The rumor in the case turned out to be true, and in 1993, Trump and Marla Maples got married. The wedding took place shortly after the birth of daughter Tiffany. Of course, this marriage didn’t last long either. The couple divorced in 1997. During several interviews, Maples said she never really wanted to marry Trump, but she did so because she was young and listened foolishly to his promises. She said he was “ego-driven” and “self-obsessed”. She also claims that it was her daughter Tiffany who gave her the courage to leave him, as her priority was to be a mother and she was no longer willing to tolerate Trump’s behavior. She also cited her different lifestyles and views on life, in general, as a reason for the unsuccessful marriage.
Trump did not divorce Maples for long before meeting his current wife, Melania (then Knauss), another model. The pair started dating in 1998 and in 2005 they were married. In 2006, Melania gave birth to Barron, the couple’s only child.
Melania Trump now serves as the first lady of the United States; however, while the couple remains married, there have been several allegations made against Trump regarding matters.
In September 2005, for example, a conversation he had with Billy Bush, the host of Access Hollywood, was taped.
During that conversation, Trump boasted that he had the power to “grab” women “by p-y” because he was famous. The recording was released by the Washington Post just before the 2016 presidential election, and Trump apologized for what he said, attributing it to the “locker room” conversation.
Then there is the supposed case he had with Stormy Daniels, an adult movie star, that would have occurred in July 2006, just four months after his now wife gave birth to her son. Michael Cohen, Trump’s personal lawyer, paid Daniels $ 130,000 just before the 2016 elections to prevent the case from becoming public. Cohen has since admitted that he made it easier for Daniels to pay the money when he pleaded guilty to a total of eight federal crimes, which also included illegal campaign contributions.
Trump & Stormy Daniels
Karen McDougal, a Playboy model, is another case that Trump is rumored to have. This case is supposed to have started before the Daniels case in June 2006. American Media, owned by the National Enquirer and closely linked to Donald Trump, acquired the exclusive rights to McDougal’s story, which, like New Yorker pointed out, it appears to have been a way to prevent his story from becoming public, as no information about that story has been released.
Several other women also came forward, saying they were sexually assaulted by Donald Trump. For example, in 2016, Natasha Staynoff, a People report, claimed that Trump held her against a wall and pushed her tongue down her throat in 2005, when she was visiting Mar-a-Lago to interview him and his pregnant wife, Melania.
In addition, several women who competed in the Miss Universe and Miss USA contests (both belonging to Trump) said he chased and assaulted them. The women claimed that he “inspected” them and grabbed them without their permission.
Summer Zervos, who participated in The Apprentice, also claimed that Trump assaulted her in 2007, claiming that he kissed her aggressively, grabbed her breasts and shoved her genitals at her while they were at a meeting at The Beverly Hills Hotel.
Trump denied any allegations that were made against him in relation to these cases. However, given the number of stories told, many people believe in the women that Trump allegedly assaulted.
Trump and the future
Although Trump is one of the richest people in America and is still serving in the President of the United States, it is difficult to say what will happen to his fortune.
He will be running for re-election during the next presidential election; however, given the main investigations that are currently being conducted and have not yet been fully disclosed, it will be interesting to see what the future holds for Donald Trump.
One thing is certain: every day another shocking story seems to arise about the 45º President.
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