During the heated political campaigns, Donald Trump once commented that he is worth around $10 billion. However, no one knows his true net worth. Trump went against conventional tradition when he failed to release his highly controversial tax return. Many wondered what he could possibly be hiding. Some people even speculated that his business enterprises were evading tax. After a section of his 2005 tax returns was leaked, it was revealed that he had written off about $103 million in pure losses. However, it didn’t provide details of Trump’s income sources. But it’s no secret, Donald trump is a very rich individual
His source of wealth
Most of Donald Trump assets are under the umbrella of The Trump Organization, a company which Donald inherited from his dad. This company owns residential towers, plush resorts, golf courses and real estates all over the United States and abroad. Some of Donald Trump assets include the Trump World Tower located in Manhattan, the Trump Tower, the Palm Beach estate that is situated in Florida and a whopping 16 golf courses located all over the globe. The Trump Turnberry golf course located in Scotland is one of his most historical investments. The course has hosted numerous PGA events and is on the verge of getting expanded.
Donald Trump’s leaked tax returns also revealed that the president had been taking massive bank loans, leaving him in tremendous debt. His total debt in 2015 was $350 million. However, it rocketed to $630 million by 2016. After Forbes analyzed Donald Trump assets, they estimated him to have a net worth of around $3.7 billion. The magazine also unearthed that 18 of his assets had decreased in value, dropping his wealth to around $800 million. In one heated national debate between Trump and Hillary Clinton, the president promised that he’d release his tax returns if his opposing candidate, Hillary, would release the emails that she’d deleted.
Other income sources
It is estimated that Donald Trump makes a $400,000 salary as president, with an additional $50,000 set aside for his expenses. He also earns money through speaking engagement fees, along with a number of presidential perks which include travel and entertainment budgets. Clearly, Donald Trump assets aren’t the only thing keeping him on his feet – he has multiple sources of income which will most likely leave him a tad richer. His family members also own a number of successful businesses. Ivanka Trump, for instance, has her own successful fashion and clothing brand.
It’s worth noting that Trump didn’t get his wealth the “good old-fashioned way” as he boasts frequently. His dad, Frederick Trump Sr., was a real estate developer who started his own company years ago. He built his real estate and construction company from the ground up, passing it on to Donald after his graduation from the Wharton School of Business. By 1970, Donald Trump’s dad had amassed a fortune estimated to be $200 million dollars. Clearly, Donald Trump assets were mostly thanks to his dad.