Trump’s main source of income is his parent company Truth Social.
Photo: EFE – WIll Oliver
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According to the magazine ForbesRepublican presidential candidate Donald Trump‘s net worth is $4.3 billion. The majority ($2.2 billion as of Aug. 30, the day they set values for the Forbes 400 list) comes from its parent company Truth Social, which went public in March.
The surprising thing is that, “in less than four years, he has grown and completely transformed a fortune that he built for 40 years,” the media detailed.
In 2021 Trump lost the election against Joe Biden and had to face “an empire in trouble.” Its commercial properties were virtually empty, its hotel business was losing tens of millions and its licensing projects were at a standstill.
But one afternoon, Trump received Wes Moss and Andy Litinsky, former contestants on “The Apprentice,” an American competition in which a group of businessmen compete for $250,000 for their businesses.
“The trainees presented something that piqued the teacher’s interest: a Trump-branded media and technology company, with a social media app like Twitter, a streaming service like Disney+, and a web hosting platform like Amazon. The most attractive part of the proposal? Trump would get 90% of the capital and, according to someone involved in the deal, he would not have to invest anything up front,” the magazine said.
At the beginning of 2021, Forbes estimated that Trump had a net worth of $2.4 billion, of which $1.4 billion was tied to traditional commercial properties. This year, Trumo “returns to the Forbes 400 with an estimated net worth of $4.3 billion from the social media business.”
Trump Tower in New York is another of the candidate’s main assets, along with three houses in Florida and the Trump International Hotel in Las Vegas has an estimated value of US$1.1 billion. In addition, he has another US$810 million from his six golf courses in the United States, the three in Europe, his Mar-a-Lago club and his resort in Miami.
The presidency appears to have boosted Trump’s profits at his major ventures, helping lift his operating income to an estimated $218 million last year, 58% higher than what he averaged while in the White House, according to an analysis. that Forbes made to tax returns, financial disclosures, bond filings, credit reports and internal records.
What is Trump really selling?
What is Trump really selling? the magazine asked.
The answer: himself.
“He’s done it for decades, when he was 30-something and living lavishly in Trump Tower, when he was 40-something and spending lavishly in Atlantic City, when he was 50-something and dominating a boardroom on television, when he was 60-something years old and was entering politics and, now, when he was 70-something years old and seeking revenge. Despite the ups and downs, there is something that remains constant: he gains the trust of people who don’t analyze him too closely and then gets paid,” the outlet commented.
When Trump fails, he doesn’t give up: he simply finds a new speech and often a new audience. “In politics, he has developed a huge following, the most dedicated of whom are more loyal than any of his previous clients and enthusiastically buy everything the former president offers, at almost any price he is willing to sell.”
Even for the attack he suffered, he received profits
After the attack on Saturday, July 13 in Pennsylvania, some investors close to the former president said that the attack strengthened his chances of winning the Presidency in the elections on November 5. But it also brought dividends for his corporations and companies close to the politician.
Trump Media & Technology Group racked up more than 32% gains on the New York Stock Exchange to $40.58, while Bitcoin, the cryptocurrency that has been applauded by Trump, neared 6% gains at the close on July 15 .
What debts does Donald Trump have?
Trump owes US$566 million due to the legal problems that affected the former president. In February, a judge ordered him to pay US$354.9 million and banned him from doing business in New York for three years.
His two children must also pay US$4 million each and, similarly, were disqualified from doing business in the state for two years.
Although that does not prevent the Republican candidate from still being considered a billionaire in the United States. According to Forbes, Trump is one of the 400 richest people in the world.
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