Donald Trump, current President of the United States is also one of the wealthiest men in America. He is the current owner and former president of the family owned enterprise- The Trump Organization. It serves as the umbrella body for a series of five hundred businesses and investments around the globe. According to Forbes, in January 2017 Donald Trump became the first billionaire president in U.S. history, with a net worth of 3.5 billion. He is now the 544th richest person in the world. This is quite a difference compared to last year, when his net worth was $4.5 billion and he was on Forbes list of the 400 wealthiest people in America. Of course, if Trump had released his long overdue tax returns, it would be a lot easier to calculate his wealth and to decide if he really puts his money where his mouth is. For now, we are simply left to trust the judgment of the many different financial analysts who have taken a keen interest in the issue.
According to the New Yorker, the disclosure was examined by Peter Grant and Brody Mullins of the Wall Street Journal. The two professionals estimated that Trump’s businesses produced revenue 160 million dollars before tax. Ironically, last year Trump’s campaign stated that his income in 2014 (before tax) was $362 million. This is more than double the amount estimated by the Wall Street Journal. Bloomberg also weighed in on the big debate and estimated Trump’s net worth at less than five billion dollars. This suggests that Trump’s close knit team exaggerated his wealth quite a bit- by at least one hundred percent.
The financial Post was also trying to determine exactly what his net worth really was. In a press release in May 2016, Trump said his net worth had risen to an undetermined figure,” in excess of 10 billion”. During his campaigning in 2015, he said his net worth 8.7 billion US dollars, which would mean that there was a 1.3 billion dollar increase in a year.
Evidently, no one (probably not even Trump himself) has a specific idea of how much the newly elected president actually makes. Upon closer inspection of his businesses, we do know however, know that he is a brilliant man.
In 1971, he took over his grandmother’s real estate business – Elizabeth Trump Son. Now known as the Trump Organization, the billion dollar enterprise has played a significant role in the business industry. Soon after gaining control of the business, Trump branched off into the hospitality industry, brokerage, construction and investments in sales and marketing. Trump has dipped into just about every sector in the world, from small scale retailing to film making in the entertainment industry. The organization’s headquarters are at the Trump Tower in Manhattan, which also houses condominiums, stores, offices and apartments. The golf lover also owns seventeen golf courses across the United States and Dubai. The Trump Organization had estimated revenue of 9.6 billion US dollars in 2016.
Though there are many unanswered questions about Trump’s financial earnings, his many businesses and investments prove that he must be wealthy to some extent. Whether America’s president makes ten billion or not, is still up for debate.