Nairobi News

NewsWhat's Hot

The true net worth of President Donald Trump

By PETER ODUOR January 19th, 2017 3 min read

Donald Trump is wealthy. He owns a lot of properties. He has several business interests. He is even rejecting the $400,000 (Sh41 million) a year that American Presidents are entitled to as salary. Instead, he will be taking $1 (Sh103) a year since the law requires that he does so.

He must be having lots of money. Just one problem; Trump is known to exaggerate his true net worth. He is a big talker, and a smooth one at that.

So what exactly is his worth?

$3.7 billion (Sh381 billion) as of September 2016. That’s a cording to Forbes magazine. The one publication that has had a relationship with Trump for the past 35 years, during which he moved up and down their 400 richest people in the world rankings. One year before this, he was $800 million (Sh82 billion) million richer.

Trump actually once boasted that if he wanted $2 billion (Sh206 billion), he’d call his office and there would be cheques on his desk in ten minutes.

During the campaign period, however, he refused to reveal his tax information making many people believe that he may  actually not be worth what he says he is worth.

Here is a look at some of Trump’s major investments:

40 Wall Street – in New York

Currently valued at $501 million (Sh51 billion) , this 71-storey office and retail investment has been in the hands of Trump for years. Its construction began in 1929 with the aim of making it the world’s tallest building. Trump bought it at an auction for less than $10 million (Sh1 billion) in 1995.

1290 Avenue of the Americas – in New York City

Office and retail that Trump owns 30 percent stake in. The 45-storey building with Chinese investors for partners is worth (his 30 percent stake) $409 million to Donald Trump.

Trump Tower – in New York

An office and retail building that opened in 1983 and is valued at $471 million (Sh48 billion). Trump lives in this Tower and retreated here after a hard day on the campaign trail. He has indicated that he might prefer it to moving to the White House. He lives in the three-storey penthouse.

Niketown – in New York City

Worth about $400 million (Sh 41 billion), Trump owns the ground lease (not the land) to this 57th Street investment till 2079.

Other real estate investments under Trump Include: Trump Parc East, Trump Park Avenue, Spring Creek Towers, Trump Plaza, Trump International Hotel and Tower, Trump World Tower, 555 California Street. The buildings are valued at tens and hundreds of million dollars each.

Other Trump investments include golf courses like the ones he has in Scotland and Ireland. He owns 100 per cent stake in them, complete with a seaside golf resort. He owns 10 golf courses in 6 US states. In these too, he has 100 percent ownership, with every accessory that comes with the courses.

Trump owns four planes: 2 Sikorsky helicopters, 1 Boeing 757 and a Cessna Citation x. All 100 per cent owned. The net value of these is about $ 35 million (Sh 3.6 billion).

His personal residences are about three or so. Two in Palm Beach valued at $14.5 million (Sh 1.4 billion) , one in Beverley Hills valued at $9 million (Sh 927 million) and the three-storey Trump Tower penthouse that is valued at $ 90 million (Sh 9.2 billion).

Besides being in real estate and the hotel industry, Trump is known to have interest in the entertainment industry, running the very popular Celebrity Apprentice and owning Miss USA and Miss Universe for 19 years.

He leases out the Trump name as a brand for other real estate developers at a fee. He is also involved in gambling and casino business. In 2016, Forbes named him number 324 in the world’s wealthiest people list and number 113 in the US.

Most of these business deals have landed Trump in court. In the last 30 years, Trump has been involved in 4, 095 lawsuits, both as defendant and as plaintiff.