As president of the United States, Donald Trump was likely the wealthiest individual ever to inhabit the White House. But his actual net worth remains a matter of debate. In 2015, Trump claimed in a press release that he was worth more than $10 billion. In June 2024, the Bloomberg Billionaires Index put Trump’s net worth at $7.7 billion, up by $4.6 billion since the year prior, making him one of the 500 richest people in the world. Forbes magazine, however, which has been tracking Trump's wealth for decades, estimates it at $6.7 billion as of June 2024. Here is what we know about the former president's wealth and how he made it.
Key Takeaways
- Donald Trump is the founder of the Trump Organization, a private entity that doesn't have to report its financial condition in as much detail as a public company would.
- As president, and more recently as a presidential candidate, he is required to submit a financial disclosure document each year, although the numbers are self-reported and don't necessarily provide an accurate estimate of his net worth.
- Bloomberg estimates his current net worth at $7.7 billion, Forbes at $6.7 billion.
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Estimating Donald Trump's Wealth
Since 1976, Donald Trump has grown his inherited wealth through real estate development and other enterprises under the umbrella of the Trump Organization. Because it is a private entity, the Trump Organization is not required to publish financial statements in the same manner or with the same level of detail as a publicly traded company.
A large portion of Trump’s wealth also comes from his shares in social media company, Trump Media and Technology Group, which owns social media platform, Truth Social. Trump owns 114.75 million shares of Trump Media and Technology, and an additional 36 million earnout shares according to an SEC filing from April 2024. The earnout shares added about $1.2 billion to Trump’s net worth, according to Bloomberg. His stake in Trump Media is worth about $5.6 billion, according to Forbes.
Shares of Trump Media ($DJT) fell after the former president was found guilty by a New York jury on 34 felony counts of falsifying business records. The value of Trump’s shares dropped $316 million as a result of the share price dropping, according to Forbes.
As a presidential candidate and later as president, Donald Trump famously refused to make public his tax returns, which would show his annual income, its sources, and any taxes he paid or owed. Although the New York Times published abbreviated information from some of his tax returns in September 2020, the disclosure failed to provide details about his actual net worth.
During his term as president Trump was required to submit an annual financial disclosure to the federal government. More recently, as a candidate for his party's 2024 presidential nomination, he faces a similar requirement. As of June 10 2024, Trump has not submitted his 2024 financial disclosure to the Federal Election Commission (FEC). In May 2024, the FEC gave Trump an extension until July 1, 2024 to file his most recent financial disclosure.
While government financial disclosures list the person's assets and investments, they can do so using estimates and broad value ranges. For example, when Trump filed his most recent financial disclosure with the Federal Election Commission on April 14, 2023, he valued his Mar-A-Lago Club LLC at "over $50,000,000" and the Trump Media & Technology Group Corp., the company behind the social media platform Truth Social, at "$5,000,001 to $25,000,000."
According to a breakdown by Forbes, Trump's wealth, as of May 2024, consisted of:
- Trump Media and Technology Group: $5.6 billion
- Real Estate: $1.1 billion
- Golf Clubs and Resorts: $810 million
- Cash and other assets: $510 million
- Legal Liabilities: -$540 million
According to his 2023 disclosure form, his cash and personal assets are spread among hundreds of stocks, bonds, mutual funds, and other investments.
It's worth noting, however, that the numbers in Trump's financial disclosure forms are self-reported and in February 2022, his longtime accounting firm, Mazars USA, announced that it could no longer stand behind the financial statements it prepared for the Trump Organization between 2011 and 2020.
Trump Faces Charges of Inflating His Net Worth
In September 2022, New York State Attorney General Letitia James filed a lawsuit accusing Trump, three of his children, and other senior executives of the Trump Organization of inflating his net worth by billions of dollars in order to borrow money from banks on more favorable terms. A statement that James's office issued at the time maintained that, "From 2011-2021, Mr. Trump and the Trump Organization knowingly and intentionally created more than 200 false and misleading valuations of assets on his annual Statements of Financial Condition to defraud financial institutions."
Trump denied the allegations, replying on Truth Social that, "THE THING I HAVE IS A GREAT CASE BASED ON PHENOMENAL NUMBERS THAT SHOW A NET WORTH BILLIONS OF DOLLARS MORE THAN SHE VICIOUSLY & FALSELY CLAIMED, VERY LITTLE DEBT, BIG CASH, A POWERFUL DISCLAIMER CLAUSE, PAID OFF LOANS, NO DEFAULTS, 'HAPPY' BANKS, GREAT ASSETS."
In a subsequent court filing, in September 2023, James maintained that Trump had exaggerated his net worth by $1.9 billion to $3.6 billion per year during the period between 2011 and 2021, compared to the numbers reported in his financial statements.On Sept. 26, 2023, the judge in the case ruled, in a summary judgment, in favor of the prosecution.
On May 30, 2024, Trump was convicted on 34 felony charges for falsifying business records—the first former U.S. president to ever be convicted of a crime.
How Is Net Worth Calculated?
Net worth is the value of all assets minus any liabilities, such as loans or other debts.
Does Donald Trump Own Any Crypto?
According to Forbes magazine, Trump's assets as of September 2023 included $3 million in cryptocurrency.
What Prominent Real Estate Properties in New York City Has Donald Trump Owned?
At various times, Donald Trump has owned, either fully or partially, a number of landmark properties, including the Plaza Hotel, the St. Moritz Hotel (now the Ritz Carlton on Central Park South), and the land under the Empire State Building. He remains in possession of his flagship property, Trump Tower on Fifth Avenue.
How Many Times Has Donald Trump Declared Bankruptcy?
Donald Trump has never filed for personal bankruptcy. However, businesses of his have filed for Chapter 11 bankruptcy a total of six times to date. They include two Atlantic City casinos, in 1991 and 1992, and New York City's Plaza Hotel, also in 1992.
The Bottom Line
Donald Trump's net worth has long been a matter of controversy, and he has often been accused of exaggerating it, either for financial purposes or simply to burnish his image as a successful businessman. Because his businesses are privately held, and his required financial disclosures simply estimates, it's likely that no one will ever know precisely what his net worth is.
