You all know him. Donald Trump. Ruthless entrepreneur, billionaire, and now the 45th President of the United States. Donald Trump’s net worth is not known, yet estimated to be about $3 billion. Despite it often being listed as low as $2 billion and as high as $15 billion, the exact figure is not known.
Donald Trump has seen it all in business, it isn’t fair to say he inherited his wealth because his father, Fred Trump was only worth about $100 million and it was Donald who grew the family’s net worth into the billions of dollars. It took decades and Trump knows hard times, too. He has been declared bankrupt twice. In 1991 and 2004. Both times he returned richer than ever.
Since his main business is in real estate development, we shouldn’t be surprised that he owns several luxury properties in the US and around the world. His New York City penthouse sitting on the top of one of his skyscrapers, The Trump Tower, has doors decorated with gold and diamonds. Another of his famous luxury homes is Mar-a-Lago estate in Palm Beach, Florida. He bought it in 1985 for just $10 million. Which is incredible considering it cost $7 million to build in 1927 which is the equivalent to $103 million in 2020. Forget what you may have heard people say about him not being very wealthy: Donald Trump is extremely rich.
Trump also owns suburban mansion in Bedford, New York. As well as dozens more luxury properties alone. It is the cornerstone of his “Trump” brand which was globally known even before he reached the presidency. In fact it was so well known that at a certain point in his career, Donald Trump decided to liquidate most of his properties, invest the profits into the stock market and sell the branding rights of having “Trump” on your building. In fact he took part in many licensing deals even today you can buy the right to brand your building as a Trump property, provided it lives up to the Trump expectation of luxury.
We could talk forever about Donald’s expensive houses and other possessions. But how did earn his amazing wealth? Trump was born into a family of real estate developer and millionaire, Fred Trump, but likes to highlight that he didn’t receive any financial backing from his father and promotes himself as a completely self-made man. The truth is a lot murkier however as it is clear that he received connections, tutoring and some funds in the early days from his family.