How much is Donald Trump worth?
|Net Worth:||$3 Billion|
|Date of Birth:||June 14, 1946|
|Country:||United States of America|
Before he became President, legendary business mogul Donald Trump may be best known in pop culture for his peculiar coif or signature phrase, “You’re fired,” but his astonishingly long and successful career has made this real estate magnate an international financial icon.
Who Is The Donald
You all know him. Donald Trump. Ruthless entrepreneur, billionaire, and now the 45th President of the United States. Donald Trump’s net worth is not known, yet estimated to be about $3 billion as of 2020. Despite it often being listed as low as $2 billion and as high as $15 billion, the exact figure is not known.
Donald Trump has seen it all in business, it isn’t fair to say he inherited his wealth because his father, Fred Trump was only worth about $100 million and it was Donald who grew the family’s net worth into the billions of dollars. It took decades and Trump knows hard times, too. He has been declared bankrupt twice. In 1991 and 2004. Both times he returned richer than ever.
A Stern Upbringing
Donald John Trump was born on June 14, 1946. The Brooklyn and Queens, New York-raised boy was sent to Military School as a young teen after his parents became worried about his confrontations with other boys. He excelled in school and went on to attend Fordham University and the University of Pennsylvania’s prestigious Wharton School of Business. After he earned his diploma, Trump didn’t have to do too much networking to land a job at his father’s thriving real estate company.
Building Rome In A Day
Trump had an impressive vision for his father’s company, The Trump Organization, and by the time he reached his mid-20s he was making multi-million dollar investments in Manhattan. His highest profile achievements included the purchase and development of the Jacob Javitz Center and turning the bankrupt Commodore Hotel into the Grand Hyatt. In 1980, Trump moved some of his focus to Atlantic City and by 1990 his name adorned the facades of three major casinos, along with numerous skyscrapers and condo towers in Manhattan.
Trump continued to buy buildings worldwide, appearing unstoppable, but the recession of 1989 led to non-stop bankruptcy and personal debt woes in the ’90s and early ’00s. After restructuring debt, filing for Chapter 11 protection and reducing his ownership from 56 to 27 percent, Trump renamed his company Trump Entertainment Resorts Holdings in 2005. The company purchased several more high-profile properties and enjoyed varying amounts of success before filing for Chapter 11 a third time in 2009. Though his casinos are failing, Trump continues to personally thrive and, in 2007, Forbes valued his fortune at an impressive $3 billion.
A Well Rounded Empire
A real estate empire wasn’t enough to satisfy Trump and by 1990 he had appeared as himself on The Jeffersons, The All New Mickey Mouse Club and Saturday Night Live. Now a growing national personality nicknamed “The Donald,” Trump continued to make self-promotional appearances playing himself in sitcoms and films through the ’90s, even when his real estate business was in shambles. In 2003, he launched his highly successful NBC reality show, The Apprentice, which has launched spin-offs and Trump’s trademarked catchphrase, “You’re fired.” His success on the show has led to a seven-figure salary and a star on the Hollywood Walk of Fame.
Trump has also served as the public face of the Miss Universe Organization, producing the Miss Universe,Miss USA and Miss Teen USA pageants. His involvement in Miss USA led to a very public feud with Rosie O’Donnell in 2007 when O’Donnell condemned Trump for allowing troubled winner Tara Connor to keep her crown after she violated pageant guidelines by abusing drugs and alcohol. Trump fought back by slamming O’Donnell on several TV shows and threatening to sue.
Trump Family Dynasty
Trump has been just as restless with women as he’s been in his career. He married Ivana Zelničkova in 1997, and after having his first three children with the Russian beauty, the couple divorced in 1992. He remarried Marla Maples in 1993, had one more daughter, but their romance similarly fizzled in 1999. After taking a five-year hiatus from marriage, Trump proposed to the young Slavic beauty Melania Knauss in 2004. The couple welcomed a son together in 2006, not long before Trump’s first son, Donald Jr., started producing grandchildren. The couple is still going strong, which some have speculated is due to Knauss’ wherewithal to know not try to compete with the Trump brand.
But we may be seeing a different side of ‘The Donald’ soon—outside of the boardroom and championing for a seat in a different office. In October of 2010, rumors began to spread of a 2012 Presidential run, and the staunch Republican Trump has done little to put them to bed.
How Rich Is Donald Trump, Really?
Since his main business is in real estate development, we shouldn’t be surprised that he owns several luxury properties in the US and around the world. His New York City penthouse sitting on the top of one of his skyscrapers, The Trump Tower, has doors decorated with gold and diamonds. Another of his famous luxury homes is Mar-a-Lago estate in Palm Beach, Florida. He bought it in 1985 for just $10 million. Which is incredible considering it cost $7 million to build in 1927 which is the equivalent to $103 million in 2020. Forget what you may have heard people say about him not being very wealthy: Donald Trump is extremely rich. Even since he’s been president he has sold over $100 million dollars of property.
Trump also owns suburban mansion in Bedford, New York. As well as dozens more luxury properties alone. It is the cornerstone of his “Trump” brand which was globally known even before he reached the presidency. In fact it was so well known that at a certain point in his career, Donald Trump decided to liquidate most of his properties, invest the profits into the stock market and sell the branding rights of having “Trump” on your building. In fact he took part in many licensing deals even today you can buy the right to brand your building as a Trump property, provided it lives up to the Trump expectation of luxury.
We could talk forever about Donald’s expensive houses and other possessions. But how did earn his amazing wealth? Trump was born into a family of real estate developer and millionaire, Fred Trump, but likes to highlight that he didn’t receive any financial backing from his father and promotes himself as a completely self-made man. The truth is a lot murkier however as it is clear that he received connections, tutoring and some funds in the early days from his family.
Defining Quote “I’ve made some really good deals on the golf course that I don’t think I would have made otherwise.”