Around $640 million or more was owed to various banks (Deutsche Bank, Professional Bank, Amboy Bank, and Investors Savings Bank) and trust organizations (Ladder Capital, Chevy Chase Trust Holdings, and the Bryn Mawr Trust Company). [45][50], In July 2015, federal election regulators released new details of Trump's self-reported wealth and financial holdings when he became a Republican presidential candidate, reporting that his assets are worth above $1.4 billion, which includes at least $70 million in stocks, and a debt of at least $265 million. Trump, who announced his candidacy in 2015 with a net worth of $4.5 billion, left office in January with about $2.5 billion, according to Forbes' estimates per . [2][3], When Trump has spoken of the money he received from his father, he typically downplays the actual amount. July 1989: Trump's net worth estimated to be $1.5 billion --and increase of $500 million in 10 months. In 2016, Trump was worth $3.7 billion, according to Forbes. Donald Trump was born on July 14th 1946 in Queens, New York. Trump wasn't just poorer than he said he was. [49], Discrepancies in the estimates of various organizations are due in part to the uncertainty of appraised property values, as well as Trump's own assessment of the value of his personal brand. Donald Trump's The Art of the Deal (1987) similarly states that Fred Trump was the son of an immigrant from Sweden and born in New Jersey. In 2012, Trump's real estate partner refinanced Trump Tower for almost $1 billion. [16] As of December 2020, he owes about $330 million to Deutsche Bank, due in 2023 and 2024. But what, exactly, is Trump’s net worth? As of 2020, auditors are still considering the matter. [26], After losing the November 2020 election, Trump formed a political action committee (PAC) called "Save America". [11][8] Upon Fred Trump's death in 1999, his will divided $20 million after taxes among his surviving children. The net worth of Donald Trump is not publicly known. [56][57][58], Trump reported a yearly income of $362 million for 2014[59] and $611 million from January 2015 to May 2016. Due largely to income received from the show, he paid a combined $70.1 million in federal taxes in 2005, 2006, and 2007. [54] Other outstanding Trump mortgages and debts are pegged to current market interest rates. [21], Following the storming of the Capitol on January 6, 2021, Trump suddenly lost a number of platforms and relationships including Twitter, Facebook, Stripe, Shopify, and a PGA Championship that was to be held at one of his golf courses. [19][20], After Trump lost the 2020 election, Deutsche Bank senior banker Rosemary Vrablic announced on December 22, 2020 that she was resigning from the bank effective December 31. Trump was listed on the initial Forbes List of wealthy individuals in 1982 as having a share of his family's estimated $200 million net worth. [39] Forbes believed his claim of $9 billion was "a whopper", figuring it was actually $4.1 billion. Secretary of State Mike Pompeo had an estimated net worth of $266,510 in 2016 , … "[34][35], After several years on the Forbes List, Trump's financial losses in the 1980s caused him to be dropped from 1990 to 1995, and reportedly obliged him to borrow from his siblings' trusts in 1993;[11] in 2005, The New York Times referred to Trump's "verbal billions" in a skeptical article about Trump's self-reported wealth. [61], A July 2015 campaign press release, issued one month after Trump announced his presidential run, said the FEC did not design its reports to accommodate "a man of Mr. Trump's massive wealth"[52] and that his net worth is "in excess of [10 billion dollars]". as of 2/20/21. (In 2018, this was 766th in the world, 248th in the U.S. [2] Drawing upon more than 100,000 pages of tax returns and financial records from Fred Trump's businesses and interviews with former advisers and employees, the Times found 295 distinct streams of revenue that Fred Trump created over five decades in order to channel his wealth to his son. This monthly income was multiplied by 12 which give an annual income over 2015 of $461,250,000.] We found less than $10,000 over 7 years", "Trump Foundation lacks the certification required for charities that solicit money", "Judge orders Trump to pay $2 million for misusing his charitable foundation", "Trump Must Pay $2 Million in Settlement of Suit Over Foundation", "Trump's Longtime Banker at Deutsche Bank Resigns", "Donald Trump's money faucet is getting turned off", "Deutsche Bank won't do any more business with Trump", "New York City Will End Contracts With Trump Over Capitol Riot", "SCOOP: Real-estate juggernaut Cushman & Wakefield cuts ties with Trump, refusing to handle leasing at 2 major Trump buildings in New York City", "Members are quitting 'sad' Mar-a-Lago after Trump loses", Trump's Save America PAC starts 2021 with more than $31M, filings show, Trump Raised $250 Million Since Election To Challenge Outcome—Here’s Where Most Of The Money Will Actually Go, "Trump Raised $76 Million For Himself, But Spent Nothing On Election Challenges Or Georgia", "Trump stockpiles millions in donations as he faces a second impeachment trial", "$2.8 Million In Trump Reelection Donations Went To The Trump Organization: Report", "Big companies pause their political contributions", "Trump lied to me about his wealth to get onto the Forbes 400. Portions of the new income came from Mr. Trump’s sale of the Miss Universe franchise, as well as increased revenues from his golf courses and a reduction in some investment account holdings. [62], But in September 2020, the New York Times noted that "he is personally responsible for loans and other debts totaling $421 million, with most of it coming due within four years" and no obvious way to repay them. The reasons for her resignation were unknown, but the New York Times provided context: In 2011, Vrablic had taken Trump as a client and loaned him $300 million, although this was controversial within the bank, especially as Trump had defaulted on a large loan they'd given him just three years earlier. He prefers to have a reputation as a self-made man. [1] Trump’s wealth arises from a variety of sources, including gifts, loans, and inheritance from his father, from trust funds, from suspected fraudulent arrangements, fundraising as well as from business deals and investments. Trump never released his tax returns. [37] Although Trump did not run as a candidate in the 2012 elections, his "professionally prepared" 2012 financial disclosure was published in his book, which claimed a $7 billion net worth. According to a 2019 study in the journal Political Behavior, many voters who perceived Trump as a keen businessman and the right choice for the presidency changed their opinions when told that he inherited a lot of his money from his father. He paid no taxes in 2008. [73], On November 4, 2019, the 2nd U.S. [23] New York City revoked its contracts with the Trump Organization, which include ice skating rinks and a carousel at Central Park and the Trump Golf Links at the Ferry Point golf course in the Bronx, for which it had been paying Trump $17 million per year. [11] Trump has also acknowledged that past exaggerated estimates of his wealth have been "good for financing". Besides pay, the president gets free transportation in the presidential limousine, Marine One and Air Force One and, of course, free housing in the White House. NYT May 2016: The financial disclosure form from Mr. Trump that was made public on Wednesday by the Federal Election Commission made it impossible to calculate his specific net worth or to verify his claim that he is worth more than $10 billion. Trump has testified that "my net worth fluctuates, and it goes up and down with markets and with attitudes and with feelings—even my own feelings". [68][69][70], On May 20, 2019, President Trump lost an unrelated lawsuit in which he sought to stop his accounting firm, Mazars USA, from complying with a subpoena from the House Oversight Committee for various financial records. Forbes estimates it at $2.5 billion as of 28 September 2020. [11] At the time, three individuals with direct knowledge of Trump's finances told reporter Timothy L. O'Brien that Trump's actual net worth was between $150 and $250 million, though Trump then publicly claimed a net worth of $5 to $6 billion. Forbes June 2013: $63 million Forbes May 2012: $63 million Forbes May 2011: $60 million Salary 2010: $50 million according to Forbes Note: the VIP Salary Check is based on a 5 days working week and 2 weeks holiday per year. [Because our salary check uses annual incomes as comparison we divided his 16-month income by 16 - which is $38,437,500 per month. [41] In June 2015, Business Insider published Trump's June 2014 financial statement, noting that $3.3 billion of that total is represented by "Real Estate Licensing Deals, Brand and Branded Developments", described by Business Insider as "basically [implying] that Trump values his character at $3.3 billion". [24] The real estate firm Cushman & Wakefield said it would no longer handle leasing for the Trump Tower or 40 Wall Street. Furthermore, it had never been properly certified in New York and did not submit to the annual audit that would have been required. Nearly a decade’s worth of former President Donald Trump’s tax documents have been turned over to a New York prosecutor ’s office, multiple outlets reported Thursday. Before entering politics, he was a businessman and television personality. Former Forbes reporter Jonathan Greenberg said in 2018 that during the 1980s Trump had deceived him about his actual net worth and his share of the family assets in order to appear on the list. [29] Trump may use this money for his legal defense for his second impeachment trial, or he can donate it to other political candidates. Trump has been a major figure in both domestic and international real estate since the late 1960s and continues to build and diversify his business […] "[5][6] These amounts are indeed small fractions of the entire amount he received from his father. But the form contained wide ranges for asset values and incomes that made it impossible to calculate a very wealthy candidate’s net worth or income with precision. [67] Forbes has said that although Trump "shares a lot of information with us that helps us get to the figures we publish", he "consistently pushes for a higher net worth—especially when it comes to the value of his personal brand". [41], On May 10, 2019, House Ways and Means Committee chairman Richard Neal subpoenaed the Treasury Department and the IRS for six years of Trump's tax returns. [10], In 1993, when Trump took two loans totaling $30 million from his siblings, their anticipated shares of Fred's estate amounted to $3.5 million each. In addition, Trump owes over $50 million to Chicago Unit Acquisition LLC, a company he owns, which would indicate that this company is worth over $50 million; however Trump has not disclosed any value for this company on his financial disclosure report. Former President Donald Trump's net worth has been hovering around $2.5 billion since last year, according to Forbes' estimate, down from an estimated … [52] Mortgages on those three properties were separately reported as $100 million, $160 million, and $125 million in 2013. Here's what we do know", "Donald Trump: The $7 billion dollar man", "The Problem With Donald Trump's One-Page Summary on His Wealth", "Donald Trump will declare $9 billion in assets as he reveals 2016 plans", "Trump Exaggerating His Net Worth (By 100%) In Presidential Bid", "Donald Trump's self-described net worth is $8.7 billion – here's the breakdown", "As Trump Files FEC Disclosure, He Raises Claimed Net Worth To $10 Billion; Forbes Disagrees", "Trump's businesses were already in a 'billion-dollar hole' before the Capitol riot fallout", "Trump Is Richer in Property and Deeper in Debt in New Valuation", "The World's Billionaires – No. Trump’s Net Worth Drops $600 Million In A Year To $2.5 Billion