What’s Trump worth?
President Trump’s net worth was a contentious point of debate on his run to the White House. If you ask him, he’s worth around $10 billion – he’s gone as far as to state that his brand alone is worth more than $3 billion.
How true is that? The fact that Trump refused, and still refuses, to release his tax returns have some questioning if he’s actually as rich as he says he is.
Perhaps the most in-depth look at Trump’s finance was conducted by Forbes – the media company is known for going above and beyond when it comes to compiling the list of the world’s richest men. Indeed, they have teams of researchers who try to infer net worth from publically available sources. These investigators conduct interviews with associates, scour through thousands of public records, account for values of shakes held, and also factor in debt. They are incredibly thorough.
Forbes estimates that Trump is worth around $3.5 billion. Here’s how the whole portfolio shakes out.
New York City Real Estate ($1.7 billion)
Half of Trump’s overall net worth is made up of his NYC assets. Most of Trump’s wealth is concentrated in just three buildings: Niketown on East 57th St, 40 Wall Street and 1290 Avenue of the Americas. His stake in these three behemoths together are worth around $1.1 billion.
Trump’s most famous property, Trump Tower, a 68 story tower near Central Park is worth around $386 million but he hold $100 million in debt on that property. A weak real estate market means that this property has lost $85 million in value since the election.
Non-New York Real Estate ($630 million)
In 1994, Trump faced foreclosure on a number of high-rise residential buildings on Manhattan’s West Side. He struck a deal that basically swapped these high-rises for two buildings: 1290 Sixth Avenue and 555 California Street in San Francisco.
Today, Trump’s 30% stake in the building is worth approximately $320 million, meaning 555 California Street is worth more than the rest of the 5 buildings in this part of his portfolio put together.
Golf Courses & Clubs ($620 million)
Trump owns 4 gold clubs/resorts, totalling $620 million in value. This includes Mar-a-Lago in Palm Beach, which has dubbed the Winter White House.
Cash & Personal Assets ($270 million)
Trump’s personal assets consists of Trump Tower Penthouse, several residences, two private planes (including a Boeing 757), three helicopters, and a hefty chunk of cash and other marketable securities.
His current cash pile of $130 million might take a while to recover after spending $66 million on the election and a further $25 million to settle a lawsuit over allegations that Trump University cheated millions of dollars from its students.
Source: Mother Jones
There you have it – the definitive breakdown of Trump’s sources of wealth.
It’s clear he is a rich man whose net worth has always been a bit of a magic trick – you never know if what you’re seeing is for real.
It’s not as low as some have said ($150 million) and definitely not as high as he likes to claim ($10 billion), but while the president is known for exaggerating claims about his net worth, according to him, his “net worth fluctuates, and it goes up and down with markets and with attitudes and with feelings.”