Donald Trump Net Worth: Former US President and Republican Party candidate Donald Trump was attacked during an election rally in Pennsylvania, USA. During the rally, a bullet fired at Donald Trump grazed his ear. Trump was successful in saving his life by bending down. At present, Trump is out of any danger. Trump was the richest person to live in the White House as US President.
However, it is difficult to get accurate information about Trump’s total assets. Because he has always been exaggerating his wealth. A large part of Trump’s wealth comes from his shares in the social media company, Trump Media and Technology Group. In April 2024, Trump owns 114.75 million shares of Trump Media and Technology and an additional 36 million earnout shares. According to Bloomberg, the total value of Trump’s earnout shares will be around $1.2 billion. Trump has increased his inherited wealth through real estate and other businesses with the Trump Organization since 1976. Because it is a private entity, the Trump Organization is not required to release financial statements. Therefore, it is difficult to calculate his total assets.
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What is Trump’s net worth?
Forbes estimates that Trump’s total wealth is $2.6 billion by mid-March 2024. According to this, real estate developer Trump is ranked 1,290th in Forbes magazine’s list of the world’s richest people. Forbes estimated his wealth at $3 billion in 2022, while in 2016 his wealth was estimated at $4.6 billion.
What is the source of Trump’s wealth?
Trump’s wealth comes largely from real estate, ranging from residential buildings in New York City to golf courses and hotels around the world. According to Bloomberg, among his biggest assets are an office building in Manhattan and his $500 million stake in 1290 Avenue of the Americas. Bloomberg said Trump also has $600 million in liquid assets, while his Trump National Doral Miami golf resort is worth about $300 million.
Why did Trump’s net worth decline?
Some of Trump’s real estate holdings have suffered due to the COVID pandemic. Demand for Trump’s office buildings has weakened as the number of people working from home during COVID has continued to rise. According to Forbes, the value of his office buildings has declined by $170 million. Additionally, Trump’s stake in Truth Social contributed to his fall from the Forbes 400 list. The social media platform was launched as a conservative-leaning alternative to Facebook and other social platforms, and the company once predicted it would have 40 million users.
Truth Social did not flourish
But at the end of 2023, Forbes estimated that Truth Social had signed up only 6.5 million users. This is just one percent of the users on X (formerly known as Twitter). Due to Truth Social’s growth challenges, Forbes cut the value of the parent company from $730 million to $100 million in 2022.
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…but it can happen
The business could still prove highly lucrative for the former president, as securities regulators have approved a long-planned merger between Truth Social’s parent company, Trump Media & Technology Group, and its funding partner. Trump is in line to receive about 79 million shares in the new business formed by the merger. Based on the current stock price of its funding partner, that stake could be worth as much as $4 billion.
will the account be emptied
Trump has faced several costly legal setbacks in the past few days, which could empty his bank account. According to Forbes’ assessment, Trump is under financial pressure because the former president’s wealth has declined. Trump is no longer rich enough to be included in the Forbes 400, an annual ranking of America’s richest individuals. However, the magazine estimates that he remains a billionaire with a net worth of $2.6 billion by February 2024.
Tags: Donald Trump, President Donald Trump, United States (US), United States of America
FIRST PUBLISHED : July 14, 2024, 18:19 IST