As of March 2024, former US President Donald Trump is a billionaire by net worth. But exactly how much wealth does he own? And does he, as some media reports claim, exaggerate his wealth?
On 26 March 2024, Bloomberg published a report saying that Trump witnessed a remarkable rise in his fortune, which has helped him secure a place among the 500 richest people on the Bloomberg Billionaires Index.
According to the report, Donald Trump effectively tripled his net worth, thanks primarily to his social media company, Trump Media & Technology Group, which owns the social media platform, Truth Social.
The news came at a time when Trump was given a reprieve by a state appeals court in a New York fraud lawsuit. Initially, Trump was to pay over USD 500 million as bond in the lawsuit, but the court reduced the amount to USD 175 million. Trump said he would pay the amount in bond, equivalent securities or cash.
Meanwhile, Trump clinched the Republican presidential nomination on 12 March 2024. The formal acceptance of the nomination is set for July, meaning that Trump will then officially become the Republican contender in the US Presidential race against probable Democratic face and current US President Joe Biden.
The Republican leader had on 15 November 2022 announced that he would contest the US presidential elections in 2024. Reacting to it, Biden wrote on Twitter (now X) that Trump “failed the United States.”
Since then, Trump’s detractors turned the lens to his brand of confrontational politics, his universally criticised actions during his presidency, and his vast fortune, which continues to face legal problems.
Personally, Trump is facing a series of major investigations. Among the most crucial is a Department of Justice probe into the alleged improper handling of top secret government documents after he left the White House. In a raid on his beachside property at Mar-a-Lago, Florida, in August 2022, authorities found 11,000 documents. He is accused of storing classified material, including US nuclear plans, in his bathroom and ballroom.
In June 2023, he was charged with 37 felony counts in connection to the files and, thus, became the first person in US presidential history to face indictment a second time. Trump appeared before a magistrate judge in Florida on 13 June 2023 and pleaded not guilty to all charges. The case is on and is expected to go on trial in May 2024.
In a different decision, which also underlined the deeply polarised nature of US politics, the Colorado Supreme Court on 19 December 2023 removed Trump from the State’s 2024 ballot on the grounds that he isn’t an eligible presidential candidate because of the 14th Amendment’s “insurrectionist ban.” The decision led to a major controversy as supporters of Trump claimed election interference by the Democratic party and its supporting institutions.
The Supreme Court of the United States (SCOTUS) overturned Colorado’s decision in early March 2024, restoring Trump’s name to the Colorado ballot.
Though Trump is seemingly in the driver’s seat of the Republican party, his troubles are far from over. According to a 24 March 2024 report by Rolling Stone, Joe Biden and his inner circle “have been drawing up meticulous plans and creating a large legal network focused on wargaming a close election finish, in which the former president and Republican Party launch a scorched-earth, Big Lie–fueled crusade.” Effectively, as the report underlined, Biden is building a “superstructure” to prevent Trump from “stealing the election.”
With the former US president consistently hogging the limelight, we take a look at his net worth, and how he spends his millions.
The 26 March 2024 Bloomberg report revealed that Trump has a net worth of USD 6.4 billion. The figure marks an increase of over USD 4 billion to Trump’s net worth, which previously was only around USD 2 billion.
The report said that the chief reason behind the massive rise in his net worth is because his social media company Trump Media & Technology Group wrapped up a 29-month-long merger process with Digital World Acquisition Corp. (DWAC), whose shares closed at USD 49.95 on 25 March 2024, up about 185 per cent since the start of the year. Trump’s 58 per cent stake in the company was valued at USD 3.9 billion at the time.
His new net worth has helped Trump enter the 500-name Bloomberg Billionaire Index. As of 27 March 2024, Trump is the 377th richest person in the world, with a real-time net worth of USD 7.16 billion. Chinese investor Zhang Lei was placed 500th with a net worth of USD 5.77 billion.
LVMH CEO Bernard Arnault, Amazon founder Jeff Bezos and Tesla CEO Elon Musk occupied the top three places in that order. Bloomberg L.P. owner Michael Bloomberg, the former mayor of New York City and 2020 Democratic party presidential candidate, who has a net worth of over USD 106 billion according to Forbes, is not on the list due to the editorial policy of the media entity which does not cover itself.
Besides Bloomberg, an estimate of Donald Trump’s net worth comes from Forbes. In September 2022, Forbes calculated the expensive things that the Republican leader possesses, their actual real estate values, and the debt they carry to peg Donald Trump’s actual net worth to USD 3.2 billion.
But by April 2023, Donald Trump’s net worth toppled to USD 2.5 billion. This was, as Forbes reported, because of the failure of his business Truth Social.
Nevertheless, before the merger of Trump Media, the largest share of his wealth pie comprised his real estate, including luxury hotels, in New York City. The total value of these properties was estimated at USD 880 million. Combined with his USD 290 million worth of real estate outside New York City and his USD 740 million worth of golf clubs and resorts, the biggest chunk of Trump’s property empire is composed of land and buildings.
Donald Trump’s net worth in 2024 also includes his brand businesses. He also reportedly has cash and personal assets worth USD 550 million.
However, several of his properties are at the centre of a lawsuit brought by New York’s Attorney General Letitia James in September 2022. Trump has been accused by James, who is also a Democratic Party member, of committing financial fraud. This is the case in which Trump was required to post USD 500 million as bond before the amount was reduced.
According to reports, the Attorney General filed a USD 250-million civil lawsuit to prevent former President Trump and his children — Donald Jr., Eric and Ivanka Trump — from running companies, buying or selling properties, or taking loans for five years in the State of New York.
Trump’s tax returns are also under scrutiny. The House Ways and Means Committee wants to get their hands on Trump’s federal income tax returns from the IRS — a move approved by a lower court but temporarily blocked by the US Supreme Court.
According to Forbes, Trump owns a 30-percent stake in office and retail in the 43-storey building. Its net value is USD 348 million. Coupled with the debt of USD 950 million, the total value of Trump’s ownership rises to USD 2.1 billion.
Designed by Emery Roth & Son, the building was constructed in 1964. Moed de Armas & Shannon restored it in 2013.
The building, which has an all-white marble-enclosed lobby, is located at the centre of the Manhattan borough in New York City between the 51st and 52nd Street, occupying an entire block. Central Park and the rest of the city’s skyline are visible from the upper levels of the building.
According to Forbes, Trump has no control over the building and it is overseen by Vornado Realty Trust CEO Steven Roth, who was on Trump’s economic advisory council for his 2016 presidential campaign.
The Trump Organization — the real estate company that oversees all the assets of the Trump family — has its headquarters in the Trump Tower, which is the most famous of all of Donald Trump’s properties and the one that is most closely identified with the former US President. It was, after all, the first building in Trump’s portfolio to be named after him.
The Trump Tower was designed in 1983 by the illustrious architect Der Scutt and opened in 1985. It is today one of New York City’s most recognisable landmarks. Rising 68 floors over Fifth Avenue in Manhattan, it was once the tallest glass structure in the borough.
The building has 263 residences besides shopping spaces. Trump is himself a resident in the building. His Trump Tower penthouse, measuring around 1,022 square metres, is worth USD 51 million. He also owns the office and retail spaces whose total value has been estimated at USD 207 million, including a USD-107-million debt.
One of its other most famous residents is footballer Cristiano Ronaldo. Among the few active billionaire athletes in the world, the Portugal and Manchester United forward has a luxury condominium in the building.
Among the most famous tenants at Trump Tower is Gucci, whose flagship store is located at a corner of the building on the ground floor of Fifth Avenue.
Views of Central Park, Midtown Manhattan and Downtown Manhattan are visible from the upper levels. Tenants, residents and guests can use Trump Grill, Trump Café and Trump Bar here. Along the building’s eastern wall is a 60-foot waterfall.
Constructed in the 1920s, the building was formerly known as Hotel Delmonico. It is located in Manhattan’s Upper East Side at the corner of Park Avenue and 59th Street.
There are over 120 luxury condominiums in the building. Its interiors are done with marble finishes, polished hardwoods and Italian fixtures.
Trump owns 17 condominiums and a part of the retail on Trump Park Avenue. As per Forbes, the total value comes to USD 115 million and has no debt. Trump also sold a penthouse in the building for USD 15.9 million in 2015.
The building is located next to Trump Tower and is known for housing some of the world’s most famous brands. According to Forbes, Trump pressured a man named Leonard Kandell to grant a 100-year lease on 6 East 57th Street when he was constructing Trump Tower. The lease expires in 2079.
The eight-storey building spans 6,038-square-metre and was once famous for having Nike as its tenant. The athletic lifestyle brand, particularly known for its shoes, arrived at 6th East 57th Street in 1995 and remained there until 2018.
Tiffany & Co. (pictured) is currently the most famous tenant at the site. The luxury jeweller opened The Tiffany Flagship Next Door in 2020, after acquiring the space occupied by Nike on a sublease. The plan was to remain at the site for a temporary period of around two years until its relocation to 727 Fifth Avenue. However, as of November 2022, the store was still at 6th East 57th Street.
According to Forbes, the leasehold on retail that Trump owns has a net value of USD 133 million.
Trump Parc and Trump Parc East (pictured) are two adjoining buildings which were bought by Donald Trump in 1981. Trump owns 12 condos, the garage and part of the retail portion of the property. Forbes estimates their net value to be USD 44 million.
The neo-classical Art déco Trump Parc building is the larger of the two. It was originally built as the Barbizon Plaza Hotel before World War II and is located directly across the street from Central Park. The building’s 38 storeys house 340 luxury residences.
The Trump Parc East, on the other hand, was built as a pre-World War II luxury residential complex. Today, it has 75 luxury residences where high-beam ceilings, herringbone wood floors, and wood-burning fireplaces continue to evoke the time gone by. There are only between two and five residences on any of the 14 storeys of the building, which is located across the street from Central Park.
During his presidency, Trump sold three condos in Trump Parc East for USD 7.5 million. Forbes says that all three buyers were anonymous shell companies.
The Trump World Tower is a prime residential building adjacent to the United Nations Headquarters.
The building stands out in the New York City skyline with its distinctive black appearance due to the colour of its curtain wall façade. A porte-cochère entryway leads to a two-story marble lobby.
Built in 2001, the 70-floor building was advertised as the world’s tallest residential building until the 21st Century Tower in Dubai overtook the title two years later.
The building was awarded the “Best Residential Project in the World” by the International Real Estate Federation (FIABCI) in 2003.
Trumps owns the commercial section, the garage and part of the residential property worth a net value of USD 30 million.
Trump’s USD 880 million net worth from his New York properties includes the USD 10 million net value of the leasehold on retail, a garage and a portion of residential he has at Trump Plaza. Forbes reports that the Trump campaign paid rent for occupying a section.
The Trump Plaza connected to Donald Trump is located near Third Avenue in New York City. It is close to what is known as the Museum Mile, which is the avenue on which some of the world’s most famous museums, including Metropolitan Museum of Art, are located.
Built in 1984, the building has 38 floors with 170 units. Midtown Manhattan, Lower Manhattan and the East River are visible from the building, whose apartments have balconies and units have large windows and high ceilings.
The 52-storey building is located at the corner of Central Park West and Central Park South next to Columbus Circle. Trump owns the retail, a garage and part of the residential section of the property, amounting to a net value of USD 6 million. This excludes a debt of USD 6 million, bringing the total value to USD 12 million.
The building was originally General Electric’s Gulf & Western Building before Trump had it converted into a mix-used hotel and residential in the 1990s. A private entrance on Central Park West leads to the residences which occupy floors starting from 23rd through 52nd.
A pyramid with a spire at the top makes 40 Wall Street one of the most distinguishable landmarks of New York City. The pyramid was originally covered with lead-coated copper and now has a turquoise colour.
Constructed in 1930, the 72-storey structure once had the distinction of being the tallest building in the world. The building was originally named Manhattan Company Building; it is located in the city’s financial district, a stone’s throw away from the New York Stock Exchange (NYSE).
Ferdinand Marcos, the former dictator of the Philippines, owned the building in the 1980s. Following a troubled period of acquisitions, it eventually landed in the hands of Donald Trump in 1995, who invested over USD 200 million in restorations. The New York City Landmarks Preservation Committee designated the building as a landmark in 1998.
Trump’s leasehold on the property, which is also known as Trump Building, will expire in 2059. The net value of his investment as per Forbes is USD 81 million. Combined with the debt of 130 million, the total value of the property comes to USD 211 million.
Seven Springs is the name of a palatial mansion in Bedford in the State of New York. The mansion is located on a property that is around 1 square kilometre in area and straddles the towns of Bedford, Armonk and Chappaqua in Westchester County.
Trump bought the property in 1996 for USD 7.5 million. The entire Seven Springs property was valued at USD 56.5 million as of December 2015. However, according to the Associated Press, local government assessors said that the estate was worth only USD 20 million.
As per Forbes, Seven Springs is worth USD 30 million, including a debt of USD 6 million, as of September 2022. This means that its net worth comes down to USD 24 million.
The mansion itself measures 4,645 square metres in area. It was originally built by Federal Reserve chairman and the first World Bank President Eugene Meyer in 1919. Meyer was also the publisher of The Washington Post and the father of the illustrious Katharine Graham who led the publication to its glory.
Forbes reported in 2014 that the house has 60 rooms, 15 bedrooms, three pools — including an Italian white marble indoor pool — and two servant wings. At the time, there was also a barn with stables and a bowling alley. The massive property also had a hiking trail.
The mansion is one of Trump’s properties that is under the civil inquiry initiated by James. It is also subject to a criminal investigation initiated by Manhattan District Attorney Cyrus Vance Jr.
Besides the mansion, the property also has a 1919 mansion named Nonesuch. The Tudor-style home was constructed by Heinz Ketchup founder H.J. Heinz.
Located in San Francisco, California, the building is one of Trump’s few real estate properties outside of New York. Trump owns 30 percent of the three-building complex, amounting to a net value of USD 231 million.
Trump and his partner, Vornado Realty Trust, made USD 600 million when JPMorgan Chase & Co. agreed to loan USD 1.2 billion against a mortgage of USD 533 million on the property. Forbes estimates that it contributes a net value of USD 231 million to Trump’s net worth.
The tower is 52 storeys tall and was originally built in 1969. It was formerly known as Bank of America Tower. It has been one of the most popular filming locations in the city. The iconic opening scene of Dirty Harry (1971) was shot on its roof and Towering Inferno (1974) featured its exterior entrance and lobby.
“It’s one of the greatest signs of all time,” Trump described the building in 2011, as per Los Angeles Times.
“We got it built, it’s doing great and we’re very proud of it,” he added while addressing Republican supporters.
The 64-storey building is located on Las Vegas Boulevard and is particularly known for its 24-karat-gold-infused glass, which gives the building its distinctive golden appearance. It was conceived in 2008 as a high-end hotel-condominium development but without a casino.
As per Los Angeles Times, the construction of the building did not help Trump despite his claim of success.
Trump, as per Forbes, owns 50 percent of the hotel and condos in the building. The net value of this comes to USD 61 million without debt.
The building was very active during the Trump presidency, as he reportedly sold dozens of his units while in office.
The 92-storey building in Chicago rises about Michigan Avenue and the River Chicago overlooking Lake Chicago. Completed in 2008, the glass building became the tallest residential building in the world until Burj Khalifa overtook it.
There are 339 five-star guest rooms and hotel condominiums across 11 floors from the 17th to the 27th. There are more residential condos, including five-bedroom penthouses, starting from the 29th floor to the 89th. The building has a 22.8-metre indoor pool and a spa measuring 2,136 square metres. Prominent restaurants are also located in the building.
Trump owns retail spaces, part of the residential and parking at the Chicago property. Going by Forbes’ estimates, it is his only property with a negative net value of USD 30 million. Its net operating income dropped from USD 17 million to USD 2 million in three years from 2015 to 2018, as per Washington Post. And now it has a massive debt of USD 95 million.
Other than the buildings, Trump also owns a winery in Charlottesville, Virginia, whose net value is USD 30 million. The ideally located vineyard is Virginia’s largest and is located on the foothills of the Blue Ridge Mountains along the Monticello Wine Trail.
A 2,415-square-metre Georgian-style mansion named Albemarle Estate is located on the property. Like many of Trump’s properties, the place can be booked for a stay.
The net value of the winery is estimated at USD 30 million.
Trump owns multiple extravagant homes and plots outside of the State of New York. Among these is a house in Terres Basses on the French island of Saint Martin. Known as Château des Palmiers (pictured), the beachfront house was bought in 2013 by Trump for an undisclosed sum.
It has a villa with six bedrooms on the ocean side, overlooking the white sandy beach of Plum Bay. There is another villa with four bedrooms towards the garden side of the château. The full-service private resort has a tennis court, spa and other luxury amenities.
Trump aimed to sell the property in 2017 for USD 28 million, but lack of interest led to its price getting lowered to USD 16.9 million. It remains on the market. Forbes has valued it at an even lower price of USD 11 million, with no debt.
The former American president also owns three houses in Palm Beach, Florida, US. He bought one of these properties in 2018 while he was in office. It is a mansion worth USD 19 million across Mar-a-Lago. The net value of the properties comes to USD 69 million, excluding debt of around USD 10 million.
Trump also owns two homes in Virginia next to one of his golf clubs. These homes are valued at USD 2 million, according to Forbes.
He also holds residential plots worth USD 55 million, without debt, at Rancho Palos, Verses, California.
One of Trump’s largest holdings is composed of golf clubs and resorts. As per Forbes, Trump owns 10 golf courses in six US states. The total net value of these properties comes to USD 226 million. None has any debt on them.
Trump’s fascination with golf doesn’t end within the American borders. He also has two golf resorts in Scotland and another in Ireland. As per the Trump Organization, the properties suffered a loss of around USD 100 million. Forbes estimates that the debt-free properties have a net value of USD 87 million.
The USD 42 million Trump National Doral Miami resort (pictured) is another property that contributes to his net worth. Trump refinanced a debt of USD 125 million into the property in May 2022 to cover losses due to the pandemic. This has brought the total value to USD 167 million.
The Federal Bureau of Investigation (FBI) raided Mar-a-Lago — Spanish for “sea-to-lake” — in August 2022. Confirming the raid on his “beautiful home,” Trump said in a statement that “this unannounced raid on my home was not necessary or appropriate.”
Trump is known to have a special association with his Mar-a-Lago estate in Palm Beach. He called the property his “winter White House” and spent many days at the resort while he was president.
On many occasions, he took major decisions — such as a military strike on a Syrian airfield — and hosted world leaders such as Chinese President Xi Jinping at the resort. After he eventually left office in January 2021, Trump set up a base at Mar-a-Lago.
It was not a surprise, therefore, that Trump announced his 2024 re-election bid from Mar-a-Lago.
Spread in an area of 80,937 square metres, the property was originally constructed in the mid-1920s as the private residence of businesswoman Marjorie Merriweather Post. The estate’s Hispano-Moresque-style main building has 126 rooms. It is hurricane-resistant and is anchored on a coral reef with concrete and steel.
The US Department of the Interior designated the property as “The Mar-a-Lago National Historic Site” in 1969.
Between 1973 and 1981, the property was under the control of the US government as per Post’s will. After it was reverted to private ownership, Trump bought it for USD 10 million in 1985 from the Post Foundation and used it as his private residence till 1995 when he established The Mar-a-Lago Club on the property. Today, it has the Mar-a-Lago Spa, two retail outlets, a tennis pro shop and several other facilities.
As per Forbes, the property has no debt and is worth USD 325 million.
A 2020 Forbes report revealed that Donald Trump owned five aircraft — a Boeing 757 (pictured), a Cessna Citation X and three Sikorsky S-76 helicopters.
He had put up one of his Sikorsky S-76 choppers, specifically the one bearing the number N76DT, on sale in November 2020. The distinctive red-white-black colour rotorcraft famously made appearances in his hit show The Apprentice (2004–2017) and was reportedly seen during his presidential campaigns.
Business Insider reported that the word “TRUMP” emblazoned on the helicopter’s rear fuselage was removed when it was put up for sale in 2020. It is not clear whether the helicopter has been sold, but Forbes says that Trump has only one helicopter among his three aircraft as of September 2022.
The Trump Cessna Citation is a small private aircraft which can fly at a speed of Mach 0.92. It can seat up to nine passengers. The Boeing 757 is hailed as the “crown jewel” on the Trump website. The large private jet has a range of around 4,800 kilometres and is powered by two Rolls-Royce engines. The aircraft has 24-karat gold-plated accents, two guestrooms, a private theatre, and dining and conference areas, among its heightened luxurious features.
Forbes estimates that the net value of the two fixed-wing private aircraft and one helicopter comes to around USD 15 million.
Apart from his businesses, properties and investments, Trump also has cash or liquid assets worth USD 375 million. Forbes reports that part of the money came from his refinancing of a San Francisco building for USD 162. He reportedly made around USD 135 million after the Trump Organization sold the Trump International Hotel in Washington, D.C., in 2022 for USD 375 million.
Trump sells his name as a licence and has made enormous sums over the years till before he entered the presidential race. His divisive presidency led to a deterioration of the brand name and many licences reportedly dropped his name from their properties.
The business is now worth USD 54 million.
One of the biggest chunks of Donald Trump’s net worth comes from TMTG, which he founded in 2021 after leaving office. As per Forbes, TMTG’s value is around USD 730 million.
As per the 22-page company overview available on its official site, part of TMTG’s “vision” is to “fight back” against Big Tech companies such as Facebook and Twitter who have “used their unilateral power to silence opposing voices in America.”
It also lists Truth Social, a social media app that Donald Trump launched in February 2022 and has championed ever since he was blocked by major social media giants due to his controversial rhetoric and narratives that have been labelled as false by mainstream fact-checkers.
(Main image: Alon Skuy/AFP; Featured image: The Mar-a-Lago Club)
Manas Sen Gupta writes at the intersection of tech, entertainment and history. His works have appeared in publications such as The Statesman, Myanmar Matters, Hindustan Times and News18/ETV. In his spare ..Read More
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