Following the ongoing debate about Donald Trump’s net worth, there have been lots of speculations regarding his status as a billionaire. While he has chosen to keep his tax returns under wraps, it has given rise to incessant media scrutiny on his chain of businesses.
The Trump family is highly revered for their prominence, particularly in the areas of real estate investment, politics, business, and entertainments. Donald Trump has not only made giant strides through his stints as a real estate mogul but also as a politician. He made history as the first billionaire to serve as the President of the United States. Join us as we take you through Donald Trump’s journey to riches below. Also, find out his current net worth and how much it has increased or decreased.
How Did Donald Trump Make His Money?
The 45th President of the United States has been dubbed a business magnate and real estate guru. This is so because he has made strides through his chain of businesses scattered in different parts of the United States. He got his knack for doing business from his father Fred Trump, who was a successful real estate developer in New York City.
His father used his inheritance to form a company called Elizabeth Trump & Son many years ago. Donald, who later became the chairman and president of the company, later renamed it the Trump Organization; a name it bears to date. He left his role as the president of the establishment after assuming office as the president of the United States.
In the early stages of his career as a developer, Donald Trump’s first big project was the Commodore Hotel which he partnered with the Hyatt Organization to procure at an undisclosed price in 1976. With his negotiating skills, Trump was able to get a 40-year tax-exempt for the hotel from New York City. However, he later sold his stake in the hotel to the Hyatt organization for $142 million in 1996.
Afterward, he continued to invest and develop other buildings in New York City including the Plaza Hotel and the former Bank of Manhattan building, among others. He further erected the 58-floor Trump Tower on Fifth Avenue; a project which was completed in 1983.
Another area that has greatly impacted Donald Trump net worth is his proceeds from his brand value and licensing. Through his organization, Donald began to license the Trump name to other companies, thereby accelerating its prominence internationally. In recent times, many Trump brands pay licensing fees to use the name, even though they are not owned by the Trump Organization. Some of these companies include Trump Fine Foods, the Trump Ocean Club, and many others.
He further cemented his reputation through his outstanding performance as the host of the TV show, The Apprentice, where his undiluted remarks and public firing of potential employees made him A fan favorite.
Additionally, Donald Trump has equally made a whole lot through his ‘fight like hell’ negotiating attitude. Even as President, he continues to maintain his portfolio of hotels, golf courses, and real estate, amid criticisms.
What’s Donald Trump’s Net Worth In 2019?
Donald Trump is no doubt one of the most successful real estate moguls in the United States of America. He has built an empire through his different stints in real estate, brand value, and other business endeavors. According to Forbes, Donald Trump’s net worth is estimated to be $3.1 billion in 2019.
In summary, Trump makes over $170 million of his total net worth from the Trump brand and licensing alone, while he rakes in hundreds of millions from golf clubs and real estate outside of New York City. More so, he has many other private properties in different parts of the US. Amongst them is his exclusive private Mar-a-Lago club in Palm Beach which is valued at $160 million.
Additionally, he has a slew of exotic cars in his collection which includes a Mercedes-Benz 3600, Ferrari, Rolls-Royce Phantom, Rolls-Royce Silver Cloud, and many others. He also has a jet, a Boeing 727 aircraft, and a 100-cabin yacht, among others.
How Much Has His Wealth Increased or Decreased?
Prior to his presidential race in 2016, Donald Trump’s net worth was estimated at $4.5 billion by Forbes. However, since his presidency, there has been a decrease of over $400 million in his wealth. Interestingly, with his current net worth of $3.1 billion, Trump reportedly moved up 51 spots in Forbes annual ranking of billionaires.
Meanwhile, the real estate mogul has blatantly refused to divulge information with regards to his tax returns which would show details of his income from his business interests. Apparently, his name has gone down in history as the first billionaire to become the president of the United States.