In 1982, Donald Trump landed on the inaugural Forbes list of wealthy individuals due to his stake in his family’s estimated $200 million fortune (equivalent to $606 million in 2022). However, financial setbacks in the 1980s caused him to be excluded from the list between 1990 and 1995. After submitting a required financial disclosure report to the FEC in July 2015, Trump claimed a net worth of approximately $10 billion. FEC records revealed assets of at least $1.4 billion and liabilities of $265 million. Forbes reported a decline of $1.4 billion in his net worth between 2015 and 2018. In their 2021 billionaires ranking, Trump’s net worth was estimated at $2.4 billion, placing him 1,299th in the world.
Journalist Jonathan Greenberg revealed that in 1984, Donald Trump posed as a fictional Trump Organization official named “John Barron” in a call to Greenberg. Under this false identity, Trump exaggerated his ownership stake in his father’s business to bolster his ranking on the Forbes 400 list of wealthy Americans. Greenberg also uncovered that Forbes had significantly overestimated Trump’s wealth and incorrectly included him in their 1982, 1983, and 1984 rankings.
Donald Trump frequently cited starting his career with “a small loan of one million dollars” from his father, which he claimed to have repaid with interest. However, records indicate he was already a millionaire by age eight and received substantial financial support from his father’s company, including loans totaling at least $60 million. Investigations in 2018 revealed alleged tax fraud by Donald Trump and his family, prompting a probe by the New York State Department of Taxation and Finance. Despite Donald Trump’s claims of financial success, his investments often underperformed the market, resulting in a decline in his net worth from $4.5 billion in 2015 to $3.1 billion in 2017.
Contrary to his assertions of business acumen, Donald Trump’s tax returns from 1985 to 1994 revealed staggering net losses totaling $1.17 billion, surpassing those of nearly all other American taxpayers. Donald Trump’s reported losses in 1990 and 1991 exceeded $250 million each year, more than double those of his closest counterparts. By 2020, Donald Trump’s tax records showed continual losses and significant debt, with income mainly derived from his role on The Apprentice and minority-owned businesses, while the losses stemmed largely from majority-owned ventures. He offset much of his income with tax credits for his losses, allowing him to either avoid or reduce annual income tax payments to as low as $750.
Throughout the 2010s, Donald Trump managed his business losses by selling assets and borrowing against them, including mortgaging Trump Tower for $100 million (due in 2022) and liquidating over $200 million in stocks and bonds. He guaranteed $421 million in debt, most of which is due by 2024. As of October 2021, Trump’s debts exceeded $1.3 billion, though much of it was secured by his assets. He owed $640 million to banks and trust organizations, including Bank of China, Deutsche Bank, and UBS, and approximately $450 million to undisclosed creditors. Despite his indebtedness, the value of Trump’s assets surpassed his liabilities. if you want to know more about the net worth of Donald Trump please visit www.senaterace24.com