Donald Trump’s net wealth was $4.5 billion when he ran for president in 2016. During his presidency, the figure rapidly decreased, eventually falling to $2.1 billion in 2020. In his first year out of office, 2021, his net worth increased slightly to $2.4 billion.
According to brand new Forbes figures, Former President Donald Trump’s net worth has risen to $3 billion, more than 14 months after leaving office and while still running for president in 2020.
What is the source of Trump’s wealth? It was the introduction of Truth Social, a social media platform positioned as a conservative alternative to Twitter, according to Forbes.
“Dan Alexander of Forbes wrote: ” “Donald Trump, the master of rebranding, now goes by the moniker of “tech entrepreneur.” It’s a stretch for the 75-year-old, who refuses to use email and instead prefers to scribble notes in marker. But he’s not afraid to try things he’s never done before, and this gig should be substantially more lucrative than the presidency. In fact, it has already added $430 million to his net wealth.”
What’s remarkable about that fact is that Truth Social is struggling on practically every metric. According to Reuters, two top executives recently resigned, and the program’s downloads on the Apple app store have plummeted dramatically.
Investors don’t seem to care about any of this. The fact that Digital World Acquisition Corp., the special purpose acquisition firm set to take Truth Social public, is currently under investigation by the Securities and Exchange Commission does not help matters. As of Monday’s market close, shares of the stock had risen from $10 to more than $56.
Trump claimed to be worth $8.7 billion in a “Summary of Net Worth as of June 30, 2014” released when he began his presidential bid in 2015. Trump remarked at his campaign announcement that year, “I’m incredibly rich.” “My overall net worth is $8.73 billion dollars. That’s not anything I’m doing to brag about. That’s what I’m doing to demonstrate that this is the kind of thinking our country requires.”
A month after that initial evaluation, Trump’s campaign issued a statement claiming that his net worth had already increased significantly.
The announcement claimed that “real estate values in New York City, San Francisco, Miami, and many other areas where he owns property have gone up significantly throughout this period of time.” “His debt is a relatively modest percentage of his net worth, and the interest rates are extremely low. Mr. Trump’s net worth is above TEN BILLION DOLLARS as of this date.”
According to Forbes, Trump’s actual net worth in 2015 was $4.1 billion.
Trump also spent most of his administration criticising how expensive it was to be president.
“I said to one of my friends, a very wealthy guy, ‘You know, I’ll bet you it cost me $2 or $3 billion and it’s worth every penny of it,'” Trump stated in an interview with Fox News in 2018. “I don’t need the money, but it’s well worth it because of what I’m doing for the country.”
Trump’s exact wealth is impossible to determine, in large part because he refused to reveal any of his tax returns during his presidential campaign or throughout his four years in office.
Trump’s exact wealth is impossible to determine, in large part because he refused to reveal any of his tax returns during his presidential campaign or throughout his four years in office.
Trump’s latest financial successes have come at an advantageous time. Trump was personally liable for $421 million in loans, in 2020. Trump refinanced his Trump Tower mortgage with a $100 million loan last month.
