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The net worth of former president Donald Trump is not publicly known. Forbes has estimated his wealth for decades [2] and estimates it at $3.7 billion as of early September 2024, [3] with Trump making much higher claims. He received gifts, loans, and inheritance from his father, who was a real-estate developer and businessman.
Oct 2, 2018 · But an investigation by The New York Times shows that by age 3, Donald Trump was earning $200,000 a year in today’s dollars from his father’s empire. He was a millionaire by age 8.
Mar 25, 2024 · In short: Donald Trump has said he has almost $US500 million in cash on hand, but has also told a court he cannot cover a $US454 million bond.
- $1 Million A Year
- $9 Million
- Early '80s: $260,000 A Year
- $15.5 Million
- $3.35 Million
Mr. Trump claims he only received a $1 million loan from his father. But his father had already made him a millionaire when he was just 8, through trusts and partnerships, according to the Times. When Mr. Trump was just 17, Fred gave him part ownership of a 52-unit apartment building. Soon after Mr. Trump graduated from the University of Pennsylvan...
After a series of deals that helped all of the children, Mr. Trump had emerged as the heir apparent for the family business, and Fred started cutting deals that benefited him alone. The two formed a partnership to build a New Jersey high-rise — with the help of a nearly interest-free $7.8 million government loan — and Mr. Trump received most of the...
By 1976, Mr. Trump was claiming in the press that he was personally worth more than $200 million, and by the '80s he was recognized as one of the richest men in America. But the Times reports that through all of that time, he was still on his dad's payroll and heavily dependent on his empire. In the early '80s, after entering his 30s, Mr. Trump sti...
Mr. Trump by this time owed at least $11 million in loan debt to his father, and would have had to pay millions in taxes if he canceled the debt, according to the Times. So Fred bought a 7.5 percent stake in one of Mr. Trump's condominium buildings in the Upper East Side, totaling $15.5 million. Four years later, Fred sold this stake, apparently to...
Fred came to his son's rescue again after Mr. Trump overspent on renovations for his Trump's Castle casino in Atlantic City, leaving him unable to fund a $18.4 million bond payment. Fred dispatched one of his bookkeepers to purchase $3.35 million worth of casino chips and then leave without placing a bet. Under New Jersey gaming laws, this counted ...
- jason.silverstein@paramount.com
- CBS News
- Supervising Politics Producer, Social Media
Oct 3, 2018 · President Trump has often claimed that he turned a $1 million loan from his father into a $10 billion empire. But a Times investigation found that Mr. Trump received today’s equivalent of at...
Oct 3, 2023 · By 2016, Forbes had downgraded Trump's wealth to $3.7 billion and Bloomberg put his net worth at an even $3 billion. In 2022, Trump released an angry statement that pointed back to the net...
Oct 2, 2018 · But an investigation by The New York Times has revealed that Donald Trump received the equivalent today of at least $413 million from his father’s real estate empire.
