Chip Somodevilla/Getty Images
It’s no secret that Donald Trump touts himself as a wealthy man; he claimed he was worth $9 billion during his 2016 presidential campaign, per The Guardian. While the 45th U.S. president may not be worth quite that much, he is the first billionaire president, according to Forbes. So what’s his net worth exactly?
Donald Trump got his start working for his father, Fred, who developed low-cost housing in Brooklyn and Queens, according to Washington Post. The New York Times reported that Trump was given a lot of money from his pops over the years — equaling at least $413 million in today’s dollars — which he used to create his own luxury real estate, hotel, and golf course brand of today. And the polarizing reality TV host turned Twitter-loving politician has bought some luxurious items to signal his wealth. In 1989, Boat International ran a story on his 86-meter yacht, originally called Nabila, which he purchased from a Saudi businessman for a breezy $30 million. He also owns his own Boeing aircraft, which he dubbed «Trump Force One.» And those planes are not cheap.
According to Celebrity Net Worth, Trump graciously doesn’t accept his $400,000 yearly presidential salary, instead donating it all to charity. So he must be pretty loaded right? Let’s take a look at Donald Trump’s true net worth.
Donald Trump reportedly inflates his net worth
Chip Somodevilla/Getty Images
Donald Trump is a billionaire, but not by much. According to Celebrity Net Worth, the president is worth $3.1 billion. Much of that is from successful real estate holdings and ventures like Trump Tower, Trump World Tower, his various golf courses, wineries, and more.
But according to Forbes, Trump’s net worth may have dropped a staggering $1 billion to $2.1 billion during the coronavirus pandemic as the hospitality and commercial real estate industries suffered. According to the outlet, real estate companies similar to Trump’s, including Boston Properties and Vornado Realty Trust, plunged an average of 37 percent from March 1, 2020, to March 18, 2020. So it’s safe to say Trump has taken a serious hit. But even prior to COVID-19, Trump was pretty far behind compared to billionaires like Michael Bloomberg, who’s worth over $50 billion, per Forbes.
And you never really know with the divisive president. According to CNN, former Trump lawyer Michael Cohen testified that Trump «inflated his total assets when it served his purposes.» One Forbes employee who ran the «Forbes 400″ for years, which Trump is reportedly obsessed with, said the publication learned to take whatever figure Trump offered as his net worth and «immediately divide it by three and refine it from there.»