How rich is former President Donald Trump at the age of 76?

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Donald Trump held many titles in his first 75 years: father of five, grandfather of 10, husband (three times), billionaire, developer, reality TV host, President of the United States and President impeached (twice). As he turns 76 on June 14, Trump is undoubtedly aiming for more titles, possibly even the 2024 presidential candidate.

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Trump lost about half of his net worth during his tenure as president as several organizations stopped doing business with Trump or any of his properties. Forbes listed him with a net worth of $4.5 billion in 2016 and $2.1 billion in 2020.

Trump’s net worth had rebounded to $3 million, with about $430 million of those assets coming from investments in the Trump Media and Technology Group, the parent company of his new venture – Truth Social – in June 2022, a reported Forbes. Trump announced the formation of the platform in October 2021 and launched it in February 2022. As of June 10, Trump has 3.2 million followers on Truth Social, Variety reported.

In June, Trump had moved up a few steps on the scale of Forbes’ billionaires list, ranking 1,012 globally, up from 1,299 in April 2021.

Donald Trump’s beginnings in business

At the time of his inauguration, Donald Trump was the oldest person to be sworn into the office of President of the United States. He was 70 years and 220 days old on January 20, 2017. (That title now belongs to President Joe Biden, who was 78 when he was sworn in). Trump defeated a number of candidates to become the Republican candidate for the 2016 presidential election. He then defeated Democratic candidate Hillary Clinton. His tenure ended Jan. 20, when Biden began his term as the 46th president.

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Trump was born into a wealthy family and inherited about $40 million from his late father, real estate developer Fred Trump. In 1971, Donald Trump became the head of what would later be known as The Trump Organization.

Trump’s earnings and legacy have helped him grow more than 500 businesses. The business mogul has held stakes in luxury golf courses, skyscrapers, TV shows, casinos, books, merchandise and, now, social media. These efforts helped him reach the estimated $3 billion that landed him on the Forbes Billionaires list for 2022.

Donald Trump’s business successes

In 1980, Trump struck a deal with Hyatt, the City of New York, and the unprofitable Commodore Hotel next to Grand Central Station, securing the right to renovate and rename the ailing hotel as the Grand Hyatt. The property became an instant hit, making Trump one of the area’s best-known property developers.

In 1984, Trump completed construction of the 68-story Trump Tower, which serves as the headquarters of the Trump Organization to this day. The building features a 60-foot waterfall, and on opening day had five levels of retail stores and restaurants.

Trump has owned a host of successful businesses and properties, including Trump Place, a luxury residential community spanning 92 acres. The Trump International Hotel & Tower Chicago has a hotel, condos, and many restaurants and shops. The success of Wollman Rink, a Central Park staple, is arguably attributed to Trump.

However, following the storming of the US Capitol, New York City announced it was severing business ties with Trump. On January 13, 2021, Mayor Bill de Blasio said the city would end three contracts with The Trump Organization that would cease operations of a carousel in Manhattan’s Central Park, two skating rinks, and a golf course in the Bronx.

Also in January 2021, the PGA of America stripped Trump’s golf course in Bedminister, New Jersey of the honor of hosting the 2022 PGA Championship. In Europe, golf organizers said Trump’s club to Turnberry, Scotland would not be in contention to host the Open Championship “for the foreseeable future”.

Donald Trump’s Bankrupt Companies

Donald Trump has big business wins under his belt, but he’s also suffered big losses.

In 1988, Trump spent $365 million on a fleet of Boeing 727s, plus landing facilities in Boston, New York and Washington, D.C. He also bought the rights to paint his name on an airplane. His attempt to create a luxury flight experience under the name Trump Shuttle failed, however, and the company was decommissioned.

In 1990, the banks that backed Trump’s investments provided him with a $65 million bailout in the form of new loans and credits. Trump’s famous Taj Mahal casino in Atlantic City, New Jersey, went bankrupt in 1991, and Trump Hotels & Casino Resorts went bankrupt in 2004. In 2009, the same company — now called Trump Entertainment Resorts — again filed its balance sheet.

Trump University is one of Trump’s most high-profile business failures. The unaccredited online college was launched in 2005 and shut down in 2010. Three Trump University lawsuits plagued his 2016 presidential campaign, alleging Trump University was a scam that cost students tens of thousands of dollars. dollars. Trump settled the lawsuits for $25 million, although he admitted no wrongdoing.

Donald Trump’s wife and family

Donald Trump has been married three times. He was with his first wife, Ivana, from 1977 to 1992. The couple had three children together: Donald Jr., Ivanka and Eric. Trump’s three oldest children — along with Ivanka’s husband, real estate investor and developer Jared Kushner — have been heavily involved in their father’s presidency.

Trump married Marla Maples in December 1993, two months after Maples gave birth to their daughter, Tiffany. The couple divorced in 1999.

Trump has been married to his current wife and former first lady, Melania Trump, who has an estimated net worth of $50 million, since 2005. Melania is the mother of Trump’s youngest son, Barron, who was born in March 2006.

Donald Trump’s lifestyle

Before moving to the White House, Donald, Melania and Barron Trump lived in a three-story penthouse in Trump Tower in Manhattan, where they enjoyed an indoor fountain and a diamond and gold encrusted door, according to a Business Insider report.

In October 2019, he filed paperwork to officially move his permanent residence to Florida, which Forbes says could have been due to more favorable tax and financial laws in the state.

Among the properties Trump owns is Mar-a-Lago in Palm Beach, where he spent 25 of his first 100 days in office and currently resides with Melania and Barron. The luxury club is worth $300 million, according to Forbes, and sits on 17 acres of prized South Florida land. Trump bought the estate – which has 58 bedrooms, 33 bathrooms, 12 fireplaces and three bomb shelters – for a whopping $10 million in 1985.

Before gaining access to Air Force One, Trump shuttled between campaign stops in his $100 million Boeing 757 adorned with gold seatbelts. The fleet of luxury vehicles Trump owned at one point included a Rolls Royce, an electric blue 1997 Lamborghini Diablo and a Mercedes-Benz SLR McLaren.

It’s unclear what’s in Mar-a-Lago’s garage now, but Trump doesn’t need much more than a golf cart to get around the estate. According to Reader’s Digest, former presidents are only allowed to drive on private property and not on public roads. Instead, they are driven by Secret Service agents who have been “trained in evasive driving maneuvers”, according to the report.

Trump’s 2024 presidential race plans

In February 2022, The Washington Post reported that Trump had hinted at a new run for president. In June, NBC News reported that Trump was “bored” and leaning toward running again, with his advisers split on whether to declare his candidacy around July 4 or after the midterm elections in November.

Trump spokesman Taylor Budowich told NBC News via text that many voters were interested in a Trump candidacy.

“America was strong, prosperous and highly respected under President Trump, and that is why he continues to have unprecedented strength through his endorsement record and the demand for his leadership has never been higher. “Budowich said.

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Jami Farkas contributed reporting for this article.

This article originally appeared on GOBankingRates.com: How wealthy is former President Donald Trump at age 76?

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