President Donald Trump has always been known as the successful entrepreneur and billionaire, but does his net worth make him the richest US president ever? Over the years, he has built his fortunes by investing in real estate and then appearing in the highly successful reality TV series “The Apprentice.”
The net worth of the President is a highly debated issue, and the question even came up during the election. However, there isn’t a conclusive figure that can be relied upon to confirm just how much wealth he has. The average of three best estimates of his wealth put the figure to be somewhere around $3.5 billion, Investopedia reported.
A glimpse of Trump’s wealth is given in the Personal Finance Disclosure, which he made to the Federal Election Commission (FEC) in 2016. According to the documents, he has around $1.4 billion in fixed assets that are mainly in real estate.
Trump’s properties include the building on 40 Wall Street, the famous Trump Tower, and the golf course resorts in New York, New Jersey, Florida, and Scotland. He also owns a private jet, which is a massive 757.
Around $1.5 billion of Trump’s net worth is in real estate investments in New York, Forbes reported. His real estate investments in other cities amount to $600 million. His golf courses and clubs are worth $590, and his brand business amount to $80 million.
As far as his income is concerned, Trump gets around $300 million from his resorts and another $100 million in rental income and profits from sale of properties. According to his 2005 tax returns, he and his wife paid $36.6 million in federal taxes, which works out to around 24% of his effective tax rate.
While disclosing his financial details, Trump pointed out that his filings were the largest in the history of the FEC. The President has become poorer by around a billion dollars since his election, reportedly because of the softening of the New York City real estate market.
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