From business mogul to president-elect, see how Donald Trump made billions.
On June 14, Trump celebrated his 70th birthday and, just a few months later, was elected president. Here’s a look at Trump’s businesses, presidential campaign, lavish lifestyle, family and net worth.
Donald Trump Net Worth: $4.5 Billion
Forbes puts Trump’s net worth at $4.5 billion. He is No. 324 on the worldwide list of billionaires and No. 113 in the United States. Early in his campaign, the Republican president-elect said he was worth in excess of $10 billion, and he reiterated that claim on May 17 when he submitted an updated financial disclosure to the Federal Election Commission.
Born into a wealthy family, Trump inherited about $40 million from his late father, real estate developer Fred Trump, reported Celebrity Net Worth, which tracks celebrity earnings. In 1971, Donald became head of what would later be known as The Trump Organization.
Donald Trump’s earnings and title have since helped him develop over 500 companies. The business mogul has his stake in casinos, skyscrapers, television shows, golf courses, books, merchandise and more.
Donald Trump’s Businesses
The only thing bigger than Trump’s personality is his business acumen. In the 1970s, he landed a deal with Hyatt, the city of New York and the unprofitable Commodore Hotel beside the Grand Central Station, earning the right to renovate and rebrand the ailing hotel into the Grand Hyatt. That hotel became an instant success, making Trump one of the best-known real estate developers in the area.In 1984, Trump completed construction on the 68-story Trump Tower, the home of The Trump Organization. That building includes a 60-foot waterfall and, on opening day, had five levels of retail stores and restaurants known as a New York staple.
Trump has owned a slew of successful businesses and properties, among them Trump Place, a housing development project with 5,700 apartments across 18 buildings. The Trump International Hotel & Tower Chicago has a hotel, condos and numerous restaurants and shops. Wollman Rink, a Central Park staple that sees more than 5 million visitors each year, is also owned by Trump.
Donald Trump’s Failed Businesses
While Trump has major business wins to his name, so does he have losses.In 1988, Trump spent $365 million on a fleet of Boeing 727s, plus landing facilities in Washington, D.C., New York City and Boston. He also bought the right to paint his name on a plane. Unfortunately, his attempt to build a luxury flying experience under the Trump Shuttle name failed — and the company was decommissioned.
In 1990, the banks that backed his investments provided him with a $65 million bailout in new loans and credit, reported Time. That bailout failed, leaving Trump nearly $4 billion in debt nine months later. That same year, his famous Taj Mahal casino in Atlanta City, N.J., filed for bankruptcy.
Trump Hotels & Casino Resorts went bankrupt in 2004. In 2009, the same company — now called Trump Entertainment Resorts — filed for bankruptcy again.
One of Trump’s highest-profile business failures is Trump University. The unaccredited online college was launched in 2005 and closed down in 2010. Three Trump University lawsuits plague the Republican nominee’s campaign. Those lawsuits allege Trump University was a scam that cost students tens of thousands of dollars.
Donald Trump Campaign Costs
The Washington Post called Donald Trump’s self-funded bid for the Oval Office history’s most cost-effective run for presidency. Unfortunately, Trump’s time at the podium has cost him a far bit more money than he might have expected. After a number of controversial and racially-charged remarks, NBC and Macy’s fired Trump, and Univision distanced itself from him.The media-savvy Trump, however, is believed to have received $2 billion in free airtime by mid-June, according to an analysis of FEC spending data conducted by The Hill. One FCC report shows he spent just $33.4 million through February 2016. Hillary Clinton spent $129 million during the same period.
Donald Trump’s Lifestyle
Trump and wife Melania Trump live in a three-floor penthouse in Trump Tower in New York City. The luxuries they enjoy include an indoor fountain and a door encrusted with diamonds and gold.Among his other properties is the private club Mar-a-Lago, which sits on 17 acres of valuable South Florida land. He bought the estate — which boasts 58 bedrooms, 33 bathrooms, 12 fireplaces and three bomb shelters — for the bargain price of $10 million in 1985. Today, it is a luxury club worth as much as $300 million.
He shuttles between campaign stops in his $100 million Boeing 757 adorned with gold seat belts. His fleet of luxury vehicles include a Rolls Royce, an electric blue 1997 Lamborghini Diablo and a Mercedes-Benz SLR McLaren.
Donald Trump’s Wife and Family
Trump is married to former supermodel Melania, his third wife and the mother of his youngest son, Barron Trump. Donald Trump Jr., Eric and Ivanka were born to his first wife, Ivana Trump. Tiffany was born to his second wife, Marla Maples.At 70, the real estate baron celebrates this year as the Republican president-elect of 2016. One of the richest men in the world, Trump is a celebrity billionaire who continues to stir controversy, make money and entertain — and now, lead the U.S.
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