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Thursday, July 25, 2019

What is Donald Trump Net Worth 2019?

What is Donald Trump Net Worth 2019?



The first billionaire president of the United States is Donald Trump in January 2017. He owns half-dozen buildings in and around midtown Manhattan in New York City. Trump has golf courses in his name and also a winery. Not only that his name is licensed to various companies worldwide.

"Donald Trump Net Worth 2019 is $3.5B as per Forbes.com". He is 45th President of the United States.

If somebody asked what is net worth of President-elect Donald J. Trump in the presidential elections, he has said that his net worth is around $10 billion. But, if estimates are to be believed, Donald Trump's net worth is close to $3.5 billion. Trump net worth is tied to his massive real estate empire that includes international hotels and golf courses, various Trump brand spin-offs and other assets.

Trump released his Personal Financial Disclosure (PFD) forms with the Federal Election Commission (FEC) in May 2016. Trump said “I filed my PFD, which I am proud to say is the largest in the history of the FEC," 

The PFD revealed Trump had:

At least $1.4 billion in assets, which includes 40 Wall St, the Trump Tower, golf course resorts in Florida, NY, NJ and Scotland and an aircraft, all which are valued at over $50 million. 
Over $300 million in income from the golf courses and resorts.
Over $100 million in rental income and sales from his property.
At least $25 million in Blackrock's Obsidian fund.
Liabilities, which include debt of $50 million or more on each of the following; the Trump Tower, 40 Wall Street, Trump National Doral, Trump International Hotel and Trump Old Post Office.

No matter if Donald Trump's net worth is $3 billion or $10 billion, it can be said that he is a billionaire. No doubt, it can be said that Trump net worth 2019 makes him the richest US President ever. John F. Kennedy was also richest President but Trump is way more richest. Trump campaigned for his presidency on his wealthiness. "I'm really rich. I'll show you in a second. I'm not saying that in a bragging way," Trump said when announcing his Presidential bid in 2015. 

Trump manages his fortune via a number of businesses that collectively form the Trump Organization. Before he took office of the President, Trump placed his holdings in a revocable trust that’s for his exclusive benefit and is being seen by his two adult sons and longtime Trump Organization bookkeeper Allen Weisselberg. 

As per the president’s financial disclosure, The value of the Trump International Hotel in Washington rose 1% to $41 million. Trump Tower, is now worth $445 million, 27% more than last year. Inspite of falling capitalization rates, it had higher net operating income in 2018 than the previous year and is on one of New York’s most valuable strips of land.  The value of 40 Wall St., Trump’s office tower in Manhattan’s financial district, increased by 13% to $480 million.

Trump’s luxury residential building at 502 Park Ave., is now worth $140 million, down 13% from a year earlier.

Trump also owns a 60 room Westchester summer home, which is known to many as Seven Springs.
Trump’s Mar-a-Lago property, which the President has since dubbed the “Winter White House”, was purchased by Trump for under $10 million in 1985 according to Town and Country. The 118 room estate actually has close ties to the United States government. 

Trump owes his lenders at least $550 million, as per his disclosures, property records and commercial mortgage data. The president owes about $300 million for loans from Frankfurt-based Deutsche Bank AG related to his Washington hotel, a Chicago tower and Florida golf resort Doral, the financial disclosures and property records show. Another loan, for $11 million, is from Coral Gables, Florida-based Professional Bank with a 4.5% interest rate and it matures in 2048.

Trump’s net worth could be higher than estimated if he owns assets or has got payments that aren’t publicly known, or if he sells properties at values above market averages. 

Tump has said in an interview with CBS before he was made President, he is not taking the presidential salary. He said, “I think I have to by law take $1, so I’ll take $1 a year. But it’s a—I don’t even know what it is...No, I’m not gonna take the salary. I’m not taking it.”

Presidents of the United States are paid monthly and are paid $400,000 per year. He is also given an expense allowance of $50,000 per annum to “assist in defraying expenses relating to or resulting from the discharge of his official duties”. The expense allowance goes back to the Treasury if a President doesn’t use it.

The President is also given a “$100,000 nontaxable travel account” and “$19,000 for entertainment”, as well as $100k to redecorate the White House as per his or her liking. He also gets free health care and, a home at the White House. After their Presidential term is finished, he/she continues to earn $199,700 per year for their lifetime.

Trump also has a small aircraft fleet, that includes a custom $100 million Boeing 757 (nicknamed “Trump Force One”) and estimated $5-7 million Sikorsky S-76 helicopter - both have been customised. His private jet includes 24 karat gold plated fixtures including seatbelts and even a sink, two bedrooms, gold silk covered walls and a Rolls Royce-powered engine. The jet carries 43 passengers and was remodelled by Eric Roth, an interior designer specialising in aircrafts.

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