Trump assets, is he really a billionaire? How he got rich
Trump assets, how much is it? The outgoing US President has always been known for his wealth, even if a recent investigation by the “New York Times” raised some doubts about the real financial situation of the Tycoon. Trump's assets seem to have suffered from the last few years of the presidency. His finances seem to have thinned, they no longer seem to be what they once were, also thanks to the Coronavirus that hit his investments.
Trump assets, is he really a billionaire? How he got rich
Donald Trump, born in 1946, certainly cannot be called a man who came out of nowhere: his father was in fact a wealthy American entrepreneur. However, both have focused on two different points of the same sector, as explained by "Money": Trump jr. he built luxury properties, while his father has always focused on building houses in more popular areas. A graduate in Economics and Finance from the Wharton School of Business, Trump began investing in the real estate world with the family business: Elizabeth Trump and Son.
A company that rented houses and apartments in Brooklyn, Queens and Staten Island. The turning point when his father involved the young Trump in one of his projects: the Swifton Village in Cincinnati, which thanks to his ability was sold for 6.7 billion dollars. In 1971 Trump decided to break away from his father and invest in the richest area of New York: attractive Manhattan. And the blow succeeded: "An example applies to everyone: the transformation of the now failed Commodore Hotel into the Grand Hyatt Hotel. A project thanks to which he managed to have 40 years of tax deductions from the tax authorities of New York, for having revived a building now on the verge of demolition ", he always writes" Money ". Trump's wealth is also to be found in the TV program "The Apprentice", which allowed the manager to transform his name into a brand. But let's get to the substantial heritage.
"He is a multi-billionaire, with assets of 2.5 billion dollars, according to our calculations"
Is Trump really that rich? The answer comes from “Forbes”: “He is a multi-billionaire, with assets of 2.5 billion dollars, according to our calculations. His portfolio, which includes commercial buildings, golf course properties, and branding businesses, is worth about $ 3.66 billion without debt. The president has a fair amount of debt, which amounts to about $ 1.13 billion, not enough to drag his net worth under $ 1 billion. " Anyone wishing to know more can read the long article (here) published in the well-known US economy magazine.
