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Breaking Down Donald Trump’s Net Worth

Last updated on January 30, 2020 by
Donald Trump

Donald Trump is the 45th President of the United States. He is a businessman and real estate mogul and was previously well known for his reality show, The Apprentice. Trump has a net worth of $3.1 billion, making him one of the richest American politicians in history and the first American president to be a billionaire.

Donald Trump early life

Trump has faced significant controversy due to his tumultuous presidency. Once he took office, many people were skeptical about the fact that he still owned several businesses and felt this would be a conflict of interest considering his new role as president. His political policies, racially insensitive comments, sex scandals and frequent Twitter rants have disturbed much of the American public. However, he still has supporters who are willing to overlook his mishaps. Trump is currently facing possible impeachment due to his illicit political actions and less-than-stellar positions while in leadership.

Early Life

Donald Trump was born June 14, 1946 at the Jamaican Hospital in Queens, New York City. His father was Fred Trump, a real estate developer born in the Bronx – his parents were immigrants from Germany. Trump’s mother was Mary Anne MacLeod Trump, a socialite and housewife who was born in Scotland. Young Donald grew up in Queens, in the Jamaica Estates neighborhood. He attended the Kew-Forest school from kindergarten until seventh grade.

When Trump was 13, he was enrolled in the New York Military Academy, which was a private boarding school. He became skilled in sports during his time at the school. In 1964, he enrolled at Fordham University. Two years later, Trump transferred to Wharton School of the University of Pennsylvania. During his time at Wharton, he worked at Elizabeth Trump & Son, his family’s business. Trump graduated from Wharton in 1968 with a bachelor’s in economics. According to profiles about Trump published in the New York Times in 1973 and 1976, it was falsely reported that Trump graduated first in his class. However, he never even made honor roll while he was a student at Wharton.

During this time in college, Trump had four student draft deferments. In 1966, he was considered fit for military service based on his medical examination. In July 1968, a local draft board deemed him eligible to serve. In October of that year, Trump was medically deferred and classified 1-Y, which meant he was not qualified for duty unless he was called to serve in a national emergency. In 2015, Trump stated that the medical deferment was due to a bone spur in one of his feet. However, he couldn’t remember which foot was affected. According to his presidential campaign, the spurs were in both of Trump’s heel. This was a minor medical issue that was likely temporary. In 1972, Trump was reclassified as 4-F. This permanently disqualified him from serving in the military.

Lifestyle and Health

Trump claims that he doesn’t drink alcohol. He states that he abstains from alcohol because his brother Fred Trump, Jr. was an alcoholic and passed away due to his addiction. Trump also says he never smoked marijuana or cigarettes.

However, Trump does enjoy fast food. He has stated that he prefers to sleep for three or four hours each night. He says that golfing is his “primary form of exercise” even though he doesn’t usually walk the golf course. Trump says that exercise is a waste of energy and believes the human body is “like a battery, with a finite amount of energy.”

In 2015, Harold Bornstein, who was Trump’s personal physician since 1980, wrote in a letter that Trump would “be the healthiest individual ever elected to the presidency.” In May 2018, Bornstein stated that Trump actually dictated what was written in the letter and Trump’s representative took his medical records in 2017.

In January 2018, White House physician Ronny Jackson stated that Trump was in great health and his cardiac assessment didn’t indicate any heart issues. However, his cholesterol and weight were higher than the healthy range for his age. A number of outside cardiologists stated that Trump’s LDL cholesterol level in 2018 was 143, and this was not an indication of good health. In February 2019, after getting another exam, White House physician Sean Conley said Trump was in “very good health overall” but was clinically obese. Trump had a 2019 coronary CT calcium scan and the score revealed that he does have coronary artery disease. This is common for white men in Trump’s age range.

Donald Trump wealth

Wealth

Trump was listed on the first Forbes list of wealthy individuals in 1982. He made the list due to having a share of his family’s wealth, which meant his net worth was listed at $200 million. Trump took several financial losses in the 1980s and this caused him to be dropped from the Forbes list between 1990 and 1995.

In Forbes’ 2019 billionaires ranking, the publication estimated that Trump’s net worth was $3.1 billion, which ranked him at 259th in the U.S. and 715th in the world. This ranking made him one of the richest American politicians in history and the first American president to be a billionaire.

In the three years since Trump announced that he was running for president in 2015, Forbes estimated that his net worth went down 31% and his ranking on the billionaire list fell 138 spots. When Trump filed mandatory financial disclosure forms with the Federal Electronics Commission (FEC) in July 2015. Trump claimed that his net worth was $10 billion. However, the FEC can’t validate this estimate since they only show each of Trump’s largest buildings being worth more than $50 million, which yields total assets of over $1.4 billion and a debt of over $265 million. In a deposition in 2007, Trump stated “my net worth fluctuates, and it goes up and down with markets and with attitudes and with feelings, even my own feelings.”

In April 2018, journalist Jonathan Greenberg reported that Trump used a fake name “John Barron” and called him in 1984 to falsely convey that he owned “in excess of ninety percent” of the Trump family business. Trump did this in an effort to receive a higher ranking on the Forbes 400 list of wealthy Americans. Greenberg also wrote in his article that Forbes significantly overestimated Trump’s net worth and inaccurately included him on the Forbes 400 rankings in 1982, 1983 and 1984.

Trump has often stated that he started his career with “a small loan of one million dollars” from his father. Trump states that he had to pay the loan back with interest. In October 2018, an article in the New York Times stated that Trump was a millionaire by the time he was 8 years old. The article also stated that Trump borrowed at least $60 million from his father but didn’t pay him back. The New York Times also asserts that Trump received $413 million (adjusted for inflation) from his father’s business empire over the span of his life. According to the New York Times report, Trump and members of his family have committed tax fraud. However, a lawyer for Trump denies this. The New York tax department states it is “vigorously pursuing all appropriate avenues of investigation” to look into this matter. According to analyses by the Washington Post and The Economist, Trump’s investments didn’t perform well in the stock market. In October 2018, Forbes estimated that the value of Trump’s personal brand licensing business had gone down by 88% to $3 million since 2015.

Running For President

In June 2015, Trump announced that he would run for the U.S. presidency. He made the announcement at the Trump Tower In Manhattan, NY. During the speech, Trump discussed political issues such as illegal immigration, the national debt, offshoring U.S. jobs and Islamic terrorism. Trump used all of these issues as persuasion points during his campaign. Trump also introduced the slogan “Make America Great Again” during his presidential campaign announcement.

Trump stated that since he was rich, he wouldn’t give in to pressure from campaign donors. He stated that he’d be funding his own presidential campaign. However, according to the Atlantic, “Trump’s claims of self-funding have always been dubious at best and actively misleading at worst.”

During the primaries, Trump was one of seventeen candidates for the Republican nomination in 2016. This was the largest presidential field in the history of American politics. Initially, political analysts didn’t take Trump’s campaign seriously. However, he rapidly rose to the top of opinion polls.

Trump received the most votes on Super Tuesday and remained at the front of the election through the primaries. By March 2016, it was clear that Trump was in position to win the Republican nomination. He experienced a landslide win in Indiana in May 2016. This prompted, Ted Cruz and John Kasich drop out of the presidential race. Renice Priebus, the Republican National Committee (RNC) chairman declared Trump the presumptive Republican nominee.

After he became the presumptive Republican nominee, Trump began to focus on the general election. He started campaigning against Hillary Clinton, who was the presumptive Democratic nominee.

Clinton had an established lead over Trump according to the national polls through the majority of 2016. In July of that year, Clinton’s lead began to narrow in national polling averages after the FBI reopened an investigation pertaining to her email controversy.

In July 2016, Trump announced that he’d selected Indiana governor Mike Pence as his running mate. Four days after the announcement, Trump and Pence were officially nominated by the Republican Party at the Republican National Convention.

Domestic Policies

Trump’s proposed policies on immigration were points of contention during his presidential campaign. He promised to build a wall on the U.S.-Mexico border to keep illegal immigrants out of the United States.

Trump also claimed the Mexico would pay for the wall. Trump also stated that he would deport all immigrants who were living in the United States illegally. He was also critical concerning birthright citizenship and claimed that people who held this status were “anchor babies.” Trump said that the deportation would focus on individuals who overstay their visas, criminals and immigrants who were a threat to national security. As president, Trump has frequently referred to illegal immigration as an “invasion” and have associated immigrants with the gang MS-13. However, research has proven that undocumented immigrants have a lower crime rate than individuals who were born in the U.S.

Trump also vowed several times that he would repeal and replace the Patient Protection and Affordable Care Act, also known as Obamacare. After Trump took office, he tried to convince Congress to get rid of this healthcare plan. A few months later, the House of Representatives voted to repeal Obamacare.

However, after several months of effort, the Senate wasn’t able to pass a repeal bill. Trump has stated that he wants to “let Obamacare fail.” The Trump administration has cut enrollment in this healthcare plan in half and significantly reduced funding for advertising to discourage enrollment. The 2017 tax bill effective repealed the Affordable Care Act’s individual health insurance mandate in 2019.

Donald Trump family

Personal Life

Trump’s father, Fred, was born in the Bronx in 1905. Trump started working in the real estate business with his mother when he was 15. The family company, E. Trump and Son, was founded in 1923. The business was known in Queens and Brooklyn, and the family built and sold thousands of barracks, apartments and single-family homes. Even though Trump’s father has German heritage, Fred claimed that he was Swedish after part of society started to view Germans negatively after World War II. Fred Trump maintained this claim until the 1990s. Trump’s mother, Mary Anne, was born in Scotland.

Fred and Mary got married in 1936 and raised their family in Queens. Donald Trump has three older siblings, Maryanne, Fred Jr and Elizabeth, and a younger brother named Robert.

Trump married Czech model Ivana Zelníčková in 1977. They have three children together: Donald Jr., Ivanka and Eric, as well as ten grandchildren. 1988, Ivana became a naturalized U.S. citizen. In 1992, the couple divorced due to Trump’s affair with Marla Maples, an actress.

Maples and Trump tied the knot in 1993 and they have one daughter, Tiffany, who was also born in 1993. The couple got a divorce in 1999 and Tiffany was raised by her mother in California.

Trump married Melania Knauss in 2005. The couple have one son, Barron, born in 2006. This was also the year Melania gained U.S. citizenship.

Donald Trump’s Net Worth

As of 2020, Donald Trump’s net worth is $3.1 billion.