Gop Senator Blasts Mcconnell For ‘treasonous’ Scrutiny Of Party’s Candidates
Earlier this week, Donald Trump sent The New York Times an email. In it, he claimed that he was very rich — pointing to a “June 30, 2014 Statement of Financial Condition” that said he was worth $5.8 billion in the year before he started running for president.
“Real estate values in New York City, San Francisco, Miami and many other places where he owns property have gone up considerably during this period of time. His debt is a very small percentage of value, and at very low interest rates. As of this date, Mr. Trump’s net worth is in excess of TEN BILLION DOLLARS.”actually
MUST WATCH
“In the 1990s, Mr. Trump nearly ruined himself by personally guaranteeing hundreds of millions of dollars in loans, and he has since said that he regretted doing so. But he has taken the same step again, his tax records show. He appears to be responsible for loans totaling $421 million, most of which is coming due within four years.”
Forbes Lists Trump As Having A Current Net Worth Of $25 Billion In 2011 Trump Was Listed As Having A Net Worth Of $29 Billion Which Is $400 Million More Than He Is Worth Now And Adjusted For Inflation That $29 Billion Would Be Worth More Than $35 Billion In Current Dollars Over $1 Billion More Than Forbes Says Hes Worth Now
If you want to see how Donald Trump has talked a much better financial game than he played, all you need to do is examine the numbers behind his fall from the Forbes ranking of the 400 richest Americans.
Trump this week was dropped from the Forbes 400 list for the first time in 25 years. According to Forbes, Trump is worth $2.5 billion, the same as last year, when he ranked 339th on the list. While many other players have added substantially to their wealth, Forbes says Trumps wealth has stayed stagnant.
This just confirms what any number of journalists, including me, have written for years: Trump, who inherited lots of money from his father, really isnt a very good businessman.
Its well known, especially among those of us who worked at Forbes, where I was a senior editor from 1984 to 1988, that being on the Rich List was hugely important to Trump. He used to endless lobby and occasionally bully the staffers who assembled the list, trying to get them to move his net worth number up. You can find details of Trumps maneuvers in this Washington Post column by former Forbes staffer Jonathan Greenberg.
Trump probably hasnt been a successful businessman for at least a decade. And before that, he presided over six Chapter 11 bankruptcies, mostly in the casinos that he bought in New Jersey.
Alice Crites contributed research to this report.
Donald Trump Net Worth: $25 Billion
When he was sworn into his presidency, he was the oldest person to be sworn in he was 70 years, 220 days old on Jan. 20, 2017. Trump beat out a number of contenders to become the Republican nominee for the 2016 presidential election. He went on to defeat Democratic nominee Hillary Clinton. His term ended on Jan. 20, when President Joe Biden began his term as the 46th president.
Trump was born into a wealthy family and inherited about $40 million from his late father, real estate developer Fred Trump. In 1971, Donald Trump became head of what would later be known as The Trump Organization.
Trumps earnings and title have since helped him develop more than 500 companies. The business mogul has his stake in luxury golf courses, skyscrapers, television shows, casinos, books, merchandise and more.
See: Trumps 14 Most Questionable Campaign Expenses
Also Check: Is Trump Speaking On Tv Tonight
Trumps 2024 Presidential Run Plans
In February 2022, The Washington Post reported that Trump hinted at running for president again. In June, NBC News reported that Trump was bored and leaning toward running again, with his advisors split on whether he should declare his candidacy around July 4 or after the midterm elections in November.
Trump spokesman Taylor Budowich told NBC News via text message that many voters are interested in a Trump candidacy.
America was strong, prosperous and greatly respected under President Trump, and thats why he continues to have unprecedented strength through his endorsement record and the demand for his leadership has never been higher, Budowich said.
More From GOBankingRates
Gifts Loans And Other Wealth From His Father
According to a The New York Times report in 2018, Trump received at least $413 million from his father’s business empire. Drawing upon more than 100,000 pages of tax returns and financial records from Fred Trump‘s businesses and interviews with former advisers and employees, the Times found 295 distinct streams of revenue that Fred Trump created over five decades in order to channel his wealth to his son.
When Trump has spoken of the money he received from his father, he typically downplays the actual amount. He prefers to have a reputation as a self-made man. For example, in a 2007 sworn deposition, he acknowledged borrowing $9.6 million from his father’s estate, and on the presidential campaign trail in 2015, he acknowledged borrowing $1 million from his father as a young adult. He described both of these amounts as “small” and emphasized that he repaid both loans “with interest.” These amounts are indeed small fractions of the entire amount he received from his father. The facts may affect his public image. According to a 2019 study in the journal Political Behavior, many voters who perceived Trump as a keen businessman and the right choice for the presidency changed their opinions when told that he inherited a lot of his money from his father.
You May Like: What Social Programs Has Trump Cut
Promotion Of Conspiracy Theories
Before and throughout his presidency, Trump has promoted numerous conspiracy theories, including Obama birtherism, the Clinton Body Count theory, QAnon, the Global warming hoax theory, Trump Tower wiretapping allegations, a John F. Kennedy assassination conspiracy theory involving Rafael Cruz, linking talk show host Joe Scarborough to the death of a staffer, alleged foul-play in the death of Justice Antonin Scalia, alleged Ukrainian interference in U.S. elections, and that Osama bin Laden was alive and Obama and Biden had members of Navy SEAL Team 6 killed. In at least two instances, Trump clarified to press that he also believed the conspiracy theory in question.
During and since the 2020 presidential election, Trump has promoted various conspiracy theories for his defeat including dead people voting, voting machines changing or deleting Trump votes, fraudulent mail-in voting, throwing out Trump votes, and “finding” suitcases full of Biden votes.
Personal Real Estate Holdings
Prior to becoming President and moving to The White House, Donald’s longtime primary residence was a 30,000 square-foot triplex penthouse at the top of his eponymous Trump Tower on Fifth Avenue in New York City. The apartment is famously covered in gold, marble and diamonds with Italian frescos on the ceiling. This condo is worth at least $100 million. Perhaps more like $150-200 million thanks to the luxurious fixtures and notoriety.
Not far away from Trump Tower, Donald owns several units in a building called Trump Park Avenue, overlooking Central Park.
He also owns a 213-acre estate called Seven Springs located in Westchester County, New York. He bought this property in 1995 for $7.5 million. He famously once allowed Libyan dictator Moammar Gadhafi to stay on the property in a large Bedouin-style tent when he was in town for the United Nations General Assembly.
In the 1980s, Trump paid $10 million for a 17-acre estate in Florida called Mar-a-Lago which he has referred to as “The Winter White House” during his time as President. Technically he acquired the property over two transactions totaling $10 million, as we’ll explain in a moment.
You May Like: What Is The J In Donald J Trump
House Subpoenas And Court Rulings
On May 10, 2019, House Ways and Means Committee chairman Richard Neal subpoenaed the Treasury Department and the IRS for six years of Trump’s tax returns. Seven days later, Treasury Secretary Steve Mnuchin refused to comply with the subpoenas.
On May 20, 2019, President Trump lost an unrelated lawsuit in which he sought to stop his accounting firm, Mazars USA, from complying with a subpoena from the House Oversight Committee for various financial records. The ruling against Trump was issued by Judge Amit Mehta of the U.S. District Court for the District of Columbia, who also denied the president a stay of the ruling pending any future appeal.
On November 4, 2019, the 2nd U.S. Circuit Court of Appeals in New York upheld the lower court ruling. On December 10, 2019, the 2nd U.S. Circuit Court of Appeals in New York issued a ruling which again found that the lower court had acted properly in upholding the congressional subpoenas for Trump’s financial records, but this time also ordered for Deutsche Bank and Capital One to cooperate in releasing the financial records as well.
On July 9, 2020, the U.S. Supreme Court ruled 72 that Trump cannot continue to keep his financial records secret, but ruled they should instead be given to the Manhattan DA rather than the House of Representatives. The Supreme Court denied a request for a stay on February 22, 2021, and the Manhattan DA received the financial records that same day.
Donald Trumps Wife And Family
Donald Trump has been married three times. He was with his first wife, Ivana, from 1977 to 1992. The couple had three children together: Donald Jr., Ivanka and Eric. The three eldest Trump children along with Ivankas husband, real estate investor and developer Jared Kushner were highly involved in their fathers presidency.
Trump married Marla Maples in December 1993, two months after Maples gave birth to their daughter, Tiffany. The couple divorced in 1999.
Trump has been married to his current wife and former first lady, Melania Trump, who has an estimated net worth of $50 million, since 2005. Melania is the mother of Trumps youngest son, Barron, who was born in March 2006.
Recommended Reading: Where Is Trump’s Next Rally
Donald Trump Just Lost $700 Million How Much Is He Worth
As of March 2021, the Bloomberg Billionaires Index estimates former President Donald Trumps net worth to be $2.33 billion. Trumps net worth dropped by about $700 million in his last year of presidency.
Find: Trump Faces Trouble with the Crown Jewels of His Real Estate Empire
Forbes reported that Trump was worth $3.7 billion when he first took office in 2016. That plummeted to $3.1 billion his first year in office, and then declined to $2.5 billion in 2020. He lost an additional $700 million following the Capitol Hill riots and his impeachment, when several organizations stopped doing business with Trump or any of his properties.
The 2020 dip in Trumps overall net worth was largely due to the coronavirus and the impact it has had on industries in which he holds his biggest assets. Values for office buildings and hotels have plummeted. His properties in Washington, D.C. and Chicago appear to be underwater, while Doral, his golf resort in Miami, has lost 80% of its value in a year, Forbes reported.
Additionally, the Capitol Hill riots resulted in Trumps golf course losing the right to host the PGA championship tour in 2022, which will undoubtedly lead to lost marketing opportunities and reduced profits for the course. In the days following the riots, Shopify closed Trumps online stores.
Find: Trump Ex-Lawyer Sued by Dominion for $1.3 Billion How 14 Corporate Lawsuits Turned Out
What Is Donald Trump’s Net Worth
Donald Trump is an American politician, real-estate developer, author and television personality. As of this writing, Donald Trump has a net worth of $2 billion. Before becoming President of the United States, Donald was known primarily for being the owner of The Trump Organization, a real estate and licensing conglomerate. The Trump Organization owns commercial and residential properties around the globe, notably golf courses in the United States, Scotland and Ireland. He has also earned hundreds of millions of dollars since 2000 licensing his name for a myriad of products and real estate development projects around the world.
In November 2016, Donald Trump defeated Hillary Clinton to become the 45th President of The United States. In November 2020, Donald was defeated in his reelection campaign by Joe Biden.
Don’t Miss: How Many Times Did Donald Trump Go Bankrupt
Trumps Own Social Media Platform
After the ban from Twitter, Donald Trump had announced in October 2021 that he was creating his own social media platform, Truth Social, through the Trump Media and Technology Group, which uses his rapidly appreciating Palm Beach club, Mar-a-Lago, as its address. The app became available in February 2022, as per Forbes.
Trump now reportedly has 835,000 followers on it, i.e. less than 1% of his previous total on Twitter. He has posted only once: Get Ready. Your favourite President will see you soon!
Also Read: US Seizes Russian Billionaire Vekselbergs $99 Million Superyacht In Spain
He’s Been Targeted For His Hunting Safaris
Donald Trump Jr. has repeatedly been taken to task for his controversial safaris, including one South China Morning Post dispatch about a 2019 sojourn in Mongolia where he bagged a few argali sheep, an endangered species. Package prices for such a trip to Mongolia offered by hunting expedition service providers like Ameri-cana run anywhere from $70,000 to $95,000, although in Don Jr.’s case, there’s the additional government security cost, too.
Equally controversial was a TMZ scoop about Don Jr.’s 2012 trip to Zimbabwe with brother Eric, where they hunted and brought down such big game as a civet cat, crocodile, elephant, kudu, civet cat, and waterbuck. Don Jr. was unrepentant about the safari, ruefully tweeting “I HUNT & EAT game.” The Trump brothers booked the trip through a company called Hunting Legends which doesn’t publicly disclose their package prices. However, another provider, Nyamazana Safaris, offers 21-day hunting packages for $35,700, plus trophy fees that vary according to game. Elephants top that list at $12,000.
Activist site One Green Planet reported that Don Jr. has also pursued game across this continent, from hunting moose in the Yukon to grizzlies in Alaska. According to Book Your Trip, such a moose package can be expensive at $33,000 while a grizzly venture could go as high as $15,000. Undoubtedly, Don Jr. can afford big-game hunting, demonstrating that the corporate executive has a killer instinct for other things outside the safari circuit.
Also Check: What Is Trump’s Email Address
Donald Trump Is Getting Richer Again
Analysis by Chris Cillizza, CNN Editor-at-large
More than 14 months after leaving office — and while still contesting the 2020 election — former President Donald Trump has seen his net worth soar to $3 billion, according to brand new numbers from Forbes.
“Donald Trump, master of reinvention, has a new title: tech entrepreneur. It’s a stretch for the 75-year-old, who doesn’t even use email, preferring instead to scrawl notes in marker. But he doesn’t mind jumping into ventures in which he has little previous experienceand this gig should prove far more lucrative than the presidency. In fact, it has already boosted his net worth by $430 million.”
Approval Ratings And Scholar Surveys
Trump was the only president to never reach a 50% approval rating in the Gallup poll dating to 1938. The approval ratings showed a record partisan gap: 88 percent among Republicans, 7 percent among Democrats. Until September 2020, the ratings were unusually stable, reaching a high of 49 percent and a low of 35 percent. Trump finished his term with a record-low approval rating of between 29 percent and 34 percent and a record-low average of 41 percent throughout his presidency.
In Gallup’s annual poll asking Americans to name the man they admire the most, Trump placed second to Obama in 2017 and 2018, tied with Obama for most admired man in 2019, and was named most admired in 2020. Since Gallup started conducting the poll in 1948, Trump is the first elected president not to be named most admired in his first year in office.
Read Also: Why Do People Like Trump
Donald Trump Jr Hooked Up With Kimberly Guilfoyle
In 2018, barely three months after wife Vanessa Trump filed for divorce, Donald Trump Jr. didn’t waste any time in finding another romantic partner. The Washington Post broke the news that Don Jr. had hooked up with former Fox News personality Kimberly Guilfoyle. This time, the connection was more than an O’Day fling and it wasn’t long before media wags started calling the two a power couple in Washington, D.C. “I’ve managed to maintain a very low bar with Kimberly,” said Don Jr. about his main squeeze on a . “I don’t want her to get too big an ego, or accustomed to kindness. I want to keep her tough.”
And likely frugal, since the two aren’t notorious for revealing any lavish gifts with which they shower each other. When asked if he sent a lot on Guilfoyle for their first Christmas together, Don Jr. replied to E! “Yes, I have, but it’s a secret. I’ve spent a lot of time and obviously a lot of money.”
We can make one recent exception however. In April, the couple spent $9.7 million on a Florida mansion, less than a half-hour drive from former resident Trump’s posh Mar-A-Lago digs after selling their Bridgehampton home for $8.14 million. According to People, their new residence boasts 11,300 square feet with six bedrooms and 11 bathrooms.
