President-elect Donald Trump, the 47th President of the United States, not only is worth a lot, he also owes a lot.
Estimating Trump’s net worth is as chaotic as following his campaign. There are so many assets and debts associated it takes a bit to untangle.
When he was the 45th President, between 2017 and 2021, Trump was the first billionaire to have ever held the distinction. During that time, Trump’s net worth was estimated by Forbes to be $2.4 billion in 2020, due to his commercial real estate holdings. Bloomberg, in 2019, listed his net worth at around $3 billion.
After his 2020 loss against to Joe Biden, Donald Trump founded a new social media company called Truth Social after being banned on several social media platforms.
Deep Pockets?
Truth Social was created on February 21, 2022, under Trump Media and Technology Group (TMTG). As of October 2024, leading to the elections, TMTG had a market cap of about $10 billion. Today TMTG is worth about $6.2 billion because of speculative factors rather than operational success, Fortune reported.
On the stock market, ticker DJT, Trump’s initials, TMTG has been considered a meme stock that has been volatile. Now as Trump is poised to be President again, his TMTG stock stands at almost $31 on the NASDAQ, a 101 percent annual increase. Prior to the election, Truth Social — along with Trump’s net worth — were on the downslope. On Oct. 31, its shares, trading under the ticker DJT, tumbled nearly 12 percent, marking the second day of sharp declines following a volatile trading session.
This latest drop followed an even steeper 22 percent fall the day before, CNBC reported. Trading in shares of the company, which is majority-owned (57 percent) by the former president, was halted twice during the morning trading hours on Oct. 31 due to volatility. His stake has decreased in value from $5.9 billion to about $3.5 billion, resulting in a $2.4 billion drop in net worth, according to CNN.
Once in office again, he will earn $400,000 a year as the president.
On Election Day there was a 60 percent surge on DJT followed by a 20 percent drop, CNBC reported. As of November 2024, Donald Trump’s net worth is estimated to be around $5.5 billion by Forbes and $6.5 billion by Bloomberg.
Trump‘s property in his Trump Organization includes Trump Towers in New York City’s Columbus Circle worth about $371 million, his Wall Street office building worth $260 million, his Mar-a-Lago in Palm Beach worth between $300 and $350 million, and his Trump National Doral Miami worth $150 million, and 16 golf courses worldwide. Before he sold his Washington, D.C., hotel in 2022, the Trump International Hotel was worth about $375 million, according to the attorney general’s office in New York when it investigated Trump‘s fraudulent claims.
Earlier this year, a report claimed Trump profited from his first presidency by overcharging the Secret Service for accommodations at his hotels. According to the House oversight committee, Secret Service agents were billed up to 300 percent above government rates at Trump’s D.C. hotel, The Guardian reported. The report also alleges that foreign dignitaries paid less than the Secret Service for rooms.
Deep Debt
According to CNN and Forbes, Trump has an estimated debt, as of Oct. 31, of being nearly $2 billion, and the debt is set to grow.
Forbes shows that he owes one loan for his 555 California Street skyscraper in San Francisco of $360 million, and another for his 1290 Avenue of America skyscraper for $285 million.
Then there’s his hefty business litigation. New York Attorney General Letitia James sued Trump, along with his family and the Trump Organization, in 2022 seeking $482 million as part of a broader civil fraud case. The allegations center on claims that Trump significantly inflated his personal net worth and the value of his assets to secure more favorable loans and insurance policies. Trump was found guilty, and while James initially aimed for more than $1 billion in total penalties, Trump was ordered to pay $454 million a figure now up to $482 million with interest.
Trump National Golf Course has a debt of $200 million; Trump Tower is in debt of $100 million from Axos Bank; 40 Wall Street office building in New York owes Ladder Capital $118 million; Trump International Hotels owes $6 million; Mar-a-Largo Club resort is in debt of tune of $30 million; Trump National Doral Miami Hotel owes Axos Bank $135 million; and his Seven Springs Estate in North Castle, New York, owes $5 million.
On top of all of this, Trump owes his the legal fees for the various lawsuits against him, which at one point was as much as $100 million, according to The New York Times. Trump currently owes E. Jean Carroll a total of $88.3 million in damages. This amount includes an $83.3 million judgment for defaming her in 2019 and a prior award of $5 million for damages from a separate case in which Trump was found liable for sexual abuse and defamation regarding statements he made in 2022.
Trump’s debt totals nearly $2 billion, excluding legal fees.
