According to a lengthy analysis by a correspondent for The National Journal, real estate mogul turned Republican presidential candidate Donald Trump was always going to be a billionaire — whether he worked for it or not.
As reporter S.V. Dáte notes, Trump took over his father Fred’s $US200 million real estate development business in 1974. Date estimates that Trump’s share of the empire (he has three siblings) was $US40 million.
“Had the celebrity businessman and Republican presidential candidate invested his eventual share of his father’s real-estate company into a mutual fund of S&P 500 stocks in 1974, it would be worth nearly $US3 billion today,” writes Date.
Though Trump says his net worth is $US8.7 billion, Forbes puts it at $US4 billion.
In 1988, however, Forbes estimated Trump’s net worth to be $US200 million, an amount which Date says could’ve grown to more than $US8 billion by now had Trump dropped his fortune into an index fund.
Business Insider Emails & Alerts
Site highlights each day to your inbox.