- Donald Trump, who’s worth an estimated $US2.1 billion, is the first billionaire in history to serve as president of the United States.
- The president’s fortune has taken a roughly $US1 billion hit due to the coronavirus pandemic’s impact on industries like hospitality and commercial real estate.
- From his New York real estate to his golf clubs around the world, he rakes in millions of dollars annually.
- Trump has spent his fortune on things like a fleet of private aircraft and real estate in New York City, Palm Beach, and the Caribbean.
- Visit Business Insider’s homepage for more stories.
Donald Trump is the first billionaire president in US history. Per Forbes, he’s worth an estimated $US2.1 billion.
That’s a $US1 billion drop since before the coronavirus pandemic, which has devastated industries Trump does business in, such as hospitality and commercial real estate.
He donates his $US400,000 presidential salary to various governmental entities, but Trump still rakes in millions of dollars annually from his businesses. From emblazoning a private helicopter in 24-karat gold to a 100-cabin yacht dubbed “Trump Princess,” here’s how the real-estate titan spends his fortune.
Per Forbes, Donald Trump is worth an estimated $US2.1 billion.
As recently as March, Trump was worth an estimated $US3.1 billion, but his fortune took a $US1 billion hit due to the coronavirus pandemic.
The president’s wealth is centered around his commercial real estate holdings, which were worth an estimated $US1.9 billion before the coronavirus and after deducting debt, per Forbes. By the end of March 2020, their valuation was down to $US1.2 billion.
The Trump Organisation did not immediately respond to Business Insider’s request for comment on Trump’s net worth.
During his presidential campaign, Trump claimed he had a net worth of $US10 billion —three times as much as it really was.
While running for the presidency, Trump emptied out $US66 million from his own pockets to fund his campaign, according to campaign finance disclosures examined by Reuters.
Still, he’s made history as the first billionaire to serve as President of the United States.
Between January 2016 though the spring of 2017, Trump raked in between about $US597 million and $US668 million, according to a public financial disclosure report.
Now as president, Trump receives a yearly salary of $US400,000, which he has so far donated to the Department of Education, the Department of Interior, and the Department of Health and Human Services.
So far, Trump has donated his salary instead of keeping it, as he promised during his presidential campaign.
In 2017, he donated the first three months of his salary to the National Park Service. Since then, he’s given his quarterly salary to the Department of Education, the Department of Agriculture, and other government entities.
Trump gave his fourth-quarter 2019 salary, or $US100,000, to the Department of Health and Human Services to help combat the coronavirus, the White House Press Secretary announced in March.
But Trump’s presidential salary is a drop in the bucket compared to the rest of his income.
Revenue from his New York City real estate alone accounts for more than $US1 billion of his net worth, per Forbes.
Sales from Central Park Carousel admission and ice skating rink operations combined add up to more than $US13 million in annual revenue.
And $US170 million of his total net worth is generated from the Trump brand and licensing alone.
Hundreds of millions of dollars more are generated from golf clubs and real estate outside of New York City.
Trump’s Mar-a-Lago club in Palm Beach, for example, is valued at $US160 million.
It became even more exclusive after Trump became president. You now need to shell out $US200,000 for initiation fees to join, up from $US100,000 from before the election.
The 20-acre estate is often called “the Winter White House.”
It has 128 rooms and spans the entire width of the island Palm Beach is located on, stretching from the Atlantic Ocean to the Intercoastal Waterway.
The perks afforded to you at the resort include a 27-hole golf club, a luxury spa, tennis courts, and two acres of private beach.
In 2011, Trump doled out $US6.2 million for a winery and vineyard in Charlottesville, Virginia.
He later sold the property, now known as Trump Vineyard Estates, to his eldest son, Eric.
The winery, located in the hills outside of Charlottesville, Virginia, includes a hotel and serves as a wedding venue.
As far as his cash and personal assets go, they account for roughly $US160 million of his net worth, per Forbes.
That includes his massive personal aircraft fleet, which he used to travel during his election campaign.
Source: The New York Times
Trump reportedly bought a Boeing 727 in 2010 from late Microsoft cofounder Paul Allen for $US100 million.
Trump also owns a Cessna, a jet known for its low operating costs and high performance.
It was reportedly worth $US15.3 million bought new and $US3.2 million secondhand in 2016.
The other aircraft in Trump’s fleet include three Sikorsky S-76’s, helicopters known for their ease-of-use.
Previously owned Sikorsky S-76’s usually sell for $US5 million to $US7 million.
With the S-76 he purchased in 2014, Trump had the whole interior gutted and redone with 24-karat gold-plated hardware, from the seat belts and handles to his family crest emblazoned on the side of the aircraft.
All of the gold embossment cost Trump an estimated $US750,000.
Trump has also shelled out for multiple luxury cars. Over the years, he has reportedly owned a vintage Rolls-Royce Silver Cloud …
Source: The Washington Post
… a Rolls-Royce Phantom, which starts at $US500,000 …
… a Ferrari …
… a Mercedes-Benz 3600, and a Maybach.
He also reportedly bought First Lady Melania Trump a $US455,000 SLR McLaren.
Trump spent $US30 million for a 100-cabin yacht in the 1980s and called it “Trump Princess.”
Trump has a penchant for suits made by Italian brand Brioni, a clothing line found in the closets of many a powerful CEO and celebrity.
The luxurious suits sell for anywhere between $US5,250 and $US6,900.
During his tenure on the reality show “The Apprentice,” Brioni supplied Trump with suits to wear on air, but while campaigning, he started paying for them himself.
Trump’s assets also include a number of personal residences.
His three homes near Mar-a-Lago in Palm Beach, Florida, are valued at $US25 million.
They’re technically valued at $US36 million, meaning Trump has an estimated $US11 million worth of debt on them, according to Forbes.
In January 2019, Trump sold his home in Beverly Hills, California, for $US13.5 million.
He bought the five-bedroom, Tudor-style home in 2007 for $US7 million, per the Los Angeles Times.
And Trump’s St. Martin island abode in the West Indies is valued at $US13 million.
The beachfront estate, which Trump bought in 2013 for an undisclosed price, has nine bedrooms, 12 full bathrooms, a heated pool, a fitness centre, a tennis court, and an outdoor bar.
Over on the East Coast, Trump’s Seven Springs private estate in Bedford, New York, is valued at $US24 million.
He bought it in 1996 for a reported $US7.5 million.
The mansion, which is located about 45 miles north of New York City, sits on 213 acres and reportedly boasts an indoor pool encased in marble, 60 rooms, 12 baths, two servant wings, and a bowling alley.
And then there’s the Trump Tower penthouse in the heart of Manhattan, which is valued at $US54 million.
The penthouse, which is reportedly adorned in 24-karat gold and marble, was valued as high as $US100 million in 2016.
Trump also pays for his children’s schooling.
Barron’s tuition at New York’s Columbia Grammar and Preparatory School was $US40,000 a year.
When Trump’s election brought his family and Barron to Washington DC, Barron transferred to St. Andrew’s Episcopal School in Maryland, where tuition is also about $US40,000 a year.
He also reportedly paid Tiffany’s way through college and grad school. She just graduated from Georgetown Law School, which costs upwards of $US58,000 a year.
She enrolled in 2017 and graduated in May 2020.
His divorce from first wife Ivana cost Trump a pretty penny.
In addition to the initial $US10 million from the divorce settlement, she received the 45-room mansion in Greenwich, Connecticut that the couple had shared, an apartment in Trump Plaza, $US300,000 a year in child support, and annual alimony of $US350,000.
While there’s some speculation as to exactly how much Trump has donated to philanthropic causes, he did donate $US1 million of his own money to Hurricane Harvey relief in 2017.
And in 2009, he and Melania donated between $US5,000 and $US9,999 to the Police Athletic League of New York City.
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