Donald Trump’s net worth is once again in the news after his inauguration as the US president, which was attended by the richest people in the world. Some of the biggest names included Elon Musk, Jeff Bezos, Mark Zuckerberg and Bernard Arnault.
Ever since Trump was re-elected as US president, his net worth has constantly fluctuated, mostly in his favour. According to Forbes, Trump’s net worth shot up by more than $865 million on 13 January, after Trump Media recorded its strongest trading day in over two months. Forbes now places Donald Trump’s net worth at $6.7 billion.
On the eve of his second presidency, he launched a meme coin called $Trump, which now accounts for 89% of his net worth, Axios reports. According to the American news website, Trump’s crypto holdings were a staggering $58 billion on 19 January.
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First lady Melania Trump also debuted a rival meme coin, called $Melania. The Guardian reported that shortly after its launch, Trump’s meme coin saw a sharp dip of more than 50%, before making a steady recovery. At one point, $Melania’s market capitalisation was $13 billion.
Trump’s fortune cements his status among America’s richest people. We take a deeper dive into his net worth, and what impacts the valuations of what he owns.
What makes up the majority of Donald Trump's net worth?
By far, the lion's share of Trump's net worth comes from Trump Media & Technology Group Corp (NASDAQ: DJT), the parent company of his social network, Truth Social. The company went public via a merger with the special purpose acquisition company (SPAC) Digital World Acquisition Company in March 2024.
According to Forbes, Trump has a stake of roughly 57% in the company, totalling 114.75 million shares. In December, he transferred his shares to the Donald J. Trump Revocable Trust, controlled by his son Donald Trump Jr. Donald Trump is the lone beneficiary of the trust.
2024 was a volatile year for the company that went public in March, with Trump Media's share price witnessing both highs and lows. After an initial surge in the market value, the stock hit a low of $11.75 in September, according to CBS News. In October, Trump Media’s share price went up by 119%, with multiple trading sessions where the stock rose by over 15%. It reached as high as $54.68, its highest level since 5 June.
Despite a roller coaster year for Trump Media shares, Forbes estimates that Trump’s stake in the company has propelled his net worth to $7 billion – nearly thrice what it was at the start of 2023.
Trump's other assets
Forbes reports that Trump’s portfolio of assets was worth around $6.1 billion on 23 December. Besides his billions in Trump Media stock, the second-largest chunk of Trump's net worth comes from real estate, spanning residential buildings, clubs and resorts.
This includes his $500 million stake in 1290 Avenue of the Americas, an office building in New York, and Trump National Doral Miami Golf Resort worth $300 million, according to Bloomberg. He also owns a 30% stake in a three-building complex at 555 California Street and 17 condos at his Trump Park Avenue property.
Among Trump's other properties are Trump Tower, worth about $1.7 billion, Trump International Hotel Las Vegas, worth about $135 million, and four homes in Florida which are worth around $95 million.
He also owns the penthouse at Trump Tower, a leasehold at 40 Wall Street until 2059, Trump Winery, and Trump Parc and Parc East, which consists of condos, a garage, and some retail. Other holdings include Trump World Tower, Trump Plaza, Trump International Hotel & Tower in Chicago, Trump Palace, and two homes next to one of his golf clubs in Virginia.
Trump owns the Mar-a-Lago and Trump National Doral Miami resorts, worth $325 million and $273 million, respectively, as well as 10 golf clubs in six states and three golf properties in Europe.
During his previous term in the White House, Forbes reported that Trump made more than any other president, bringing in around $2.4 billion in revenue and $550 million in income from 2017 to 2020.
Finally, other assets held by Trump include a 1991 Boeing 757, loans made to his children, and a licensing and management business.
And what lies in the debit column, detracting from Trump's net worth? Forbes estimated his legal liabilities at more than $570 million.
How much have Trump's legal problems cost?
Despite his legal problems or perhaps because of them, Trump apparently has more liquidity now than he did at any time compared to his first stint at the White House. He cashed out his hotel in Washington, D.C. and refinanced a building in San Francisco, receiving $162 million from that transaction.
However, Trump still doesn't have enough liquid assets to cover the legal judgments against him. He owes over $560 million in legal judgments in connection with two court battles in New York, although it could be years before these liabilities are resolved because he has vowed to fight those judgments.
In February 2024, Justice Arthur Engoron ruled that Trump will need to pay $355 million plus interest to New York for misrepresenting the value of some of his properties, reported The Atlantic. He is also banned from serving as a company director or taking loans from banks in the state for three years.
In May, The Independent reported that he owed lawyers an amount in the seven-figure range — about $1.1 million based on filings with the Federal Election Commission by Trump's political action committee (PAC), Save America.
How much Trump himself will shell out on legal fees remains to be seen, given that the Save America PAC has been footing the bill for much of that total.
How Donald Trump's net worth has fluctuated over time
Forbes estimated Donald Trump's net worth at around $200 million back in 1982, rising to $1.7 billion by 1989. However, his net worth plunged in the 1990s, and he fell off the Forbes 400 list for the first half of the decade. In 1996, he was worth about $450 million. From there, Trump's net worth gradually rose over time, and by 2007, it was $3 billion before tumbling again in 2009, at the end of the Great Recession (December 2007 to June 2009).
In 2009, Trump began building his billions again, reaching $4.5 billion in 2015. Trump's net worth began to decline again in 2016, falling to $3.7 billion before bottoming out during the pandemic at $2.5 billion in 2020 and 2021, likely in part because of closures that shuttered his clubs and resorts.
In 2022, Trump's net worth was $3.2 billion but dropped again, to $2.6 billion, in 2023. This year's increase is solely due to his $5.6 billion stake in Trump Media.
Trump Media only generated $4 million in revenue for 2023 and is operating at a loss. Moreover, the company's balance sheet shows minimal assets.
Similar to meme stocks or cryptocurrencies, Trump Media's valuation appears inflated by Trump's fanbase. Even with generous valuation methods, such a stock would usually be valued in the tens of millions, not hundreds of millions, let alone billions. If this holds true, Trump may be wealthy now, but if the hype around DJT stock ends, Trump is worth closer to half of the current estimates.
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