Donald Trump is a politician, real estate developer, author, and television personality from the United States. Donald Trump has a net worth of $2 billion as of this writing. Before he was elected President of the United States, Donald was best known as the proprietor of The Trump Organization, a real estate and licensing giant.
The Trump Organization has residential and commercial properties worldwide, including golf courses in the United States, Scotland, and Ireland. Since 2000, he has also earned hundreds of millions of dollars licensing his name for a variety of items and global real estate development projects.
Donald Trump defeated Hillary Clinton in November 2016 to become the 45th President of the United States. Joe Biden defeated Donald Trump in his reelection bid in November 2020.
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Donald John Trump was born on June 14, 1946. His father, Fred Trump, was a billionaire low-income real estate magnate. Fred Trump and Elizabeth Trump, Donald’s grandmother, began their careers in home construction and sales. The company, founded in 1927 as Elizabeth Trump & Son, constructs vast tracts of single-family houses in Queens. The corporation now owns and manages over 27,000 rental units on the East Coast, largely in New York City’s surrounding boroughs.
Donald attended the Kew-Forest School in Forest Hills for a short time, but at the age of 13, he was moved to the New York Military Academy. In 1968, he graduated from Fordham University and The Wharton School of Finance at the University of Pennsylvania with a bachelor’s degree in economics.
After completing college, Donald returned to New York and began working for his father’s business, which would later become known as The Trump Organization. In the 1970s, Trump amassed a fortune through the ownership and rental of middle- and lower-class housing in New York City’s neighboring boroughs, such as Brooklyn, Staten Island, and Queens.
As a result of shares in his father’s company that were placed aside for each kid at different ages, Donald Trump was officially a millionaire on paper at the age of eight, in 1954.
In 1976, Fred Trump established $1 million trusts for each of his five children and three of his great-grandchildren. That is equivalent to almost $5 million in current dollars. The trusts paid annual dividends from rental income and property sales proceeds obtained by Elizabeth Trump & Son.
In 1982, Donald and Fred were included on the inaugural Forbes 400 list of the wealthiest Americans with a combined net worth of $200 million, which is equivalent to over $500 million today. By the time he passed away in 1999, each Trump sibling had earned around $413 million in inheritance and profits from Fred Trump after adjusting for inflation.
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Individual Real Estate Investments
Before becoming president and moving to The White House, Donald’s primary residence was a 30,000-square-foot triplex penthouse atop his namesake tower on Fifth Avenue in New York City. The apartment is lavishly adorned with gold, marble, and diamonds, and the ceiling features Italian frescos. This condominium is worth a minimum of $100 million. Perhaps between $150 and $200 million due to the opulent furnishings and notoriety.
Not far from Trump Tower, Donald has multiple properties in the Trump Park Avenue building, which overlooks Central Park.
Additionally, he owns the 213-acre Seven Springs home in Westchester County, New York. In 1995, he purchased this home for $7,5 million. He famously permitted the Libyan dictator Moammar Gadhafi to remain in a big Bedouin-style tent on the site while he was in town for the United Nations General Assembly.
During his presidency, Trump has referred to Mar-a-Lago, a 17-acre Florida house he purchased in the 1980s for $10 million, as “The Winter White House.” As we will now demonstrate, he technically purchased the property through two transactions totaling $10 million.
NBC provided a bargain that was almost too good to be true when Donald and Mark Burnett joined together to develop “The Apprentice.” Donald’s Apprentice contract entitles him to fifty percent of the show’s income. In 2005, his greatest year, he made little about $48 million. Between 2000 and 2018, Donald earned $197,3 million on NBC’s The Apprentice.
He subsequently leveraged his newfound celebrity from “The Apprentice” into sponsorship and licensing deals totaling an additional $230 million.
As President, Donald was entitled to a $400,000 annual salary. While in office, he donated all but one dollar of his annual income to charity. As a former president, he will receive a pension of $211 000 per year. Ex-Presidents also earn up to $1 million per year in reimbursements for travel expenditures, Secret Service for life, $150,000 for staff expenses, and reimbursement for office space. Bill Clinton’s annual reimbursement for office space costs US taxpayers over $500,000 annually.
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Relationships and Children
Donald married Ivana Zelnickova (later Ivana Trump) in 1977. They had three children together: Donald Jr., Ivanka, and Eric. In 1993, he married his well-known mistress, Marla Maples, who gave birth to his daughter, Tiffany. They split up in 1999. Trump wed supermodel Melania Knauss in 2004, and she gave birth to his fifth child, William Barron Trump, in 2006.
Trump has historically refused to provide his tax returns, making it extremely impossible to determine his income, as tax filings do not include a person’s net worth.
Former President Donald Trump submitted his annual financial disclosure papers to the U.S. Office of Government Ethics, as required of all presidents.
However, based on his federal financial declarations, it is nearly difficult to establish Trump’s net worth. The most recent disclosure, which was for the year 2020 and was issued in January of 2021, included extraordinarily broad ranges for property prices.
Many of his homes, for instance, were valued at “above $50 million.” This is exacerbated by the fact that these estimates are self-reported, unaudited, and inconsistent with the amounts supplied by the Trump Organization to state and municipal tax authorities.