Sunday, June 16

Donald Trump Set to Potentially Become the Wealthiest President-Elect; Bloomberg Confirms His Wealth Climbs by $500 Million to $3.1 Billion

Donald Trump might just beat his own record as the richest president ever. Bloomberg did some digging and found that Trump’s bank account has been on the up and up since he left the White House. Plus, his debts are at an all-time low.

According to Bloomberg’s Billionaire Index, Trump’s fortune is now sitting at a cool $3.1 billion, which is $500 million more than what he had in 2021. That’s even higher than the $3 billion they estimated back in 2016.

But hold on, there’s a twist to this story. While Trump was in the presidential hot seat, it seems he took a bit of an economic hit. In 2020, his fortune dropped to $2.5 billion, according to Bloomberg.

Now, why the sudden boost in cash? Well, it turns out Trump’s businesses are doing pretty darn well, despite a not-so-great real estate market. Moving to Florida after leaving the White House was a smart move, as it helped beef up the finances of places like Mar-a-Lago in Palm Beach and the Doral resort in Miami. And his golf courses have seen their revenues shoot up by more than 50% since 2019.

Oh, and Trump also sold his Washington hotel and paid off some loans, which means he’s now swimming in cash and not so tied up in debt. His son, Eric Trump, who’s the executive vice president of the Trump Organization, couldn’t be happier. He says they’ve never been in a better financial spot.

Now, here’s the kicker: Trump’s own estimate of his wealth is even more optimistic. He said in his 2021 financial disclosure for a lawsuit that he’s worth a whopping $4.5 billion. But that’s a drop from the $5.8 billion he claimed back in 2016. So, it seems like he sacrificed a good chunk of his personal fortune during his time as president.

Oh, and in the legal battle between New York State and Trump, their valuation of his wealth is way off. New York said he’s worth $2.6 billion in 2021, with a super low estimate of $27.6 million for Mar-a-Lago. But Bloomberg thinks that same property is worth a hefty $240 million. Go figure!