Donald Trump has consistently been one of the media’s biggest talking points since taking office.
No stranger to the limelight, the multi-billionaire-businessman-turned-US-president was never short of controversy prior to his newly-found global position of power, particularly when it comes to making his opinions known. One topic he has frequently spoken about is money and personal wealth. We take a look at how ‘The Donald’ made his fortunes before embarking on the Whitehouse.
It is widely-known that Donald Trump inherited his father’s fortunes and business. Estimated at $200m in 1971, Fred Trump’s construction and real estate company was handed over to his son who was quick to rebrand Elizabeth Trump & Son Co. to The Trump Organization. He has since gone on to grow the company into a multi-billion Forbes 400 powerhouse.
Personal inheritance handed down from his father is estimated at $20m, the sum paid to each of Fred Trump’s children.
Real Estate and Investment
The Trump Organization owns many plush resorts, hotels, residential properties and golf courses. These include the Trump Tower in New York, the Trump World Tower in Manhattan, the gold-plated Trump Hotel Las Vegas, a Palm Beach estate in Florida and 16 golf courses around the world including Trump Turnberry in Scotland. Bloomberg Magazine valued the portfolio at $2.9bn in 2016, someway short of Trump’s own estimation of $10bn.
There have been setbacks along the way with four files for bankruptcy involving various Trump properties, including most recently in 2009 at the height of the global recession. Due to the sheer value of Trump’s individual businesses and consequent loan repayments built up along the way, his properties have managed to survive through favourable bailout negotiations with banks and lenders.
The Trump name is synonymous with luxury and commands big bucks – this has been pivotal in the growth of his personal fortune. Surprising to some, much of the Trump portfolio isn’t actually owned by The Trump Organization. Property developers using the name license branding rights and pay regular royalty fees which have been valued at £253m – again, someway short of Trump’s own estimation of $3.3bn.
Books, TV and Speaking
Outside of real estate, Trump has published best-selling books (“The Art of the Deal” in 1987) and shot to personal fame through appearances on American network television, starring in WWE Wrestlemania and more-recognisably as host of The Apprentice. It is estimated Trump has made $214m over ten years of Apprentice series, becoming a household name in the process.
With his fame and firmly-established celebrity persona, Trump also makes considerable sums of money through guest speaker appearances, charging up to $450,000 per presentation.
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