Flamboyant and outspoken, the wealth of Donald Trump has been estimated at $3 billion. Getting accurate estimates is a bit difficult, as Trump (also known as the Donald) has had a history of making, losing and making money.
Born in 1946 to an affluent family, Trump took part in his father’s business after graduating from college. The focus of his father’s dealing was rental for the middle class. Sensing the potential in commercial real estate, Trump shifted the focus there.
The favorable tax regulations in New York led him to invest in real estate in the area. The wealth of Donald Trump was built this way. Along with money, he also became well known for his outspoken and what some view as brash nature.
Bankruptcy and Turnaround
The economic slump in the late 1980s saw the value of real estate as well as Trump’s other properties fall. He had to file for bankruptcy in 1990. His debt was estimated to be $900 million.
However he reached an agreement with his creditors for debt restructuring. He sold his Trump Shuttle airline and other properties. However he was able to secure money from it and pay off his debts.
Apart from the $900 million personal debts, his businesses owed some $3 billion to various companies. His complex finances is one reason why estimating the wealth of Donald Trump can be difficult.
While Trump was able to pay his debts, his fortunes continued their roller coaster ride. His Trump International Hotel and Tower has sold very well. Meanwhile, the Trump Towers in Atlanta and Tampa have not done as well.
The Trump Tower in Chicago has also not sold out. It was partly financed by Deutsche Bank ($40 million). When Trump couldn’t pay, he was sued. Trump refused to pay and went to court, saying that the 2008 financial downturn was caused by God.
In spite of his changing fortunes, Trump owns large numbers of businesses. These include the Trump Tower, the Trump World Tower and Trump Building at Wall St. in New York. The wealth of Donald Trump extends to various casinos and resorts. Among them are the Trump Taj Mahal, Trump Plaza and Trump Marina. He also has stakes at the Trump Hotel in Las Vegas.
He also owns several golf courses. His International Golf Links is under development in Scotland. He also has the Golf Club in the Caribbean and several more in development in the States.
Other properties are the Miss Universe and Miss Teen USA beauty pageants; the Nike Store at Trump Tower and extensive lands in Palm Beach.
The Donald is also a well known TV personality. He is the host and producer of the Apprentice. He has appeared in movies like Home Alone 2 and TV shows like the Nanny. He has also appeared in WWE (World Wrestling entertainment) shows too. He has also written several best selling books detailing his experience in business.
More than the wealth of Donald Trump, it’s his personality that has captured the public’s imagination. Given his love for media exposure, people can expect to see and hear more from the man they call the Donald.