The public has no certain numbers for Donald Trump’s current net worth. If one believes his boasting on the matter when he was on his presidential campaign, he should have something around $10 billion. However, that is unbelievable because a number of respected publications such as Time refuted that claim when it came out, suggesting that Trump’s net worth was much likelier to be somewhere around $3 and $4 billion. Recently, Forbes produced a new estimate of $3.1 billion, which if true, is a significant fall of $400 million since Trump took up the position of President of the United States. Moreover, Bloomberg believes that Trump is continuing to take losses, so much so that it produced a new estimate of $2.8 billion in May of 2018.
How Did Donald Trump Reach His Current Net Worth?
One of the reasons that Trump has managed to reach the highest political office in the United States is the perception that he is an outstanding businessman. However, there are a lot of people out there who are more than a little bit skeptical about that particular claim. This can be seen in how a number of publications have released reports that Trump would be richer than he is if he had just invested his inheritance from his father in a stock market index portfolio, which would be in spite of the huge losses between 2000 and 2002 as well as in 2008. In other words, these reports are saying that Trump’s business skills have not rendered him more successful than the market, thus undermining the claim that Trump is an outstanding businessman.
This is further supported by the fact that Trump has seen a number of his businesses go bankrupt over the course of his business career. For instance, there was the Trump Taj Mahal in 1991, which was close to $3 billion in debt within a single year of its initial opening. Due to Trump having $900 million in personal liabilities, he came out of the process having lost not just half of his ownership stake in the casino but also both his yacht and his airline. Likewise, there was Trump Castle in 1992, which took serious losses because of competition from the Trump Taj Mahal. Other examples include but are not limited to the Trump Plaza and Hotel in Atlantic City, the Plaza Hotel in New York City, and Trump Entertainment Resorts.
With that said, while Trump’s status as an outstanding businessman is rather questionable, there can be no doubt about the fact that he is good at playing the role of an outstanding businessman. For proof, look no further than the numerous businesses that have used his personal brand to sell their products and services. Certainly, some of them have been huge failures, but a number of them have managed to prove more successful than they should have been. On top of this, Trump’s reputation for being an outstanding businessman received a huge boost from his involvement with The Apprentice, which proved to be a huge earner for him as well.
Since taking office, some of Trump’s businesses have been struggling, which is why publications have been estimating significant losses since that time. In part, this is because of a struggling real estate market in some places. However, it should be noted that there has been enormous dissatisfaction with Trump’s politics, so much so that a lot of consumers have been moved to take action. Sometimes, this has seen said individuals refusing to use products and services that are associated with Trump. Other times, this has seen said individuals organizing political protests against Trump-associated businesses, which has convinced some of them to remove his name from their properties for the sake of branding.
It remains to be seen what will happen from this point forward. However, it seems improbable that Trump’s popularity with both US and non-US residents will see significant upswings in the future barring some kind of unexpected occurrence that can’t be predicted at the moment. As a result, it seems possible that Trump’s net worth will continue to fall as his businesses take losses. Unfortunately, there is a lack of publicly-available information to work with, meaning that at the end of the day, there are still many uncertainties in the whole thing.