Where does Donald Trump's money come from? Find out about his main businesses and companies
The Republican presidential candidate built his name as a New York real estate mogul then used that brand name across several other enterprises.
In 2016, Donald Trump first ran for president on the brand name he had built over the years, that of a successful businessman. Over decades his Trump Organization accumulated numerous real estate holdings and managed a variety of products bearing the family name, while attempting to hide the corruption that lay behind it from enough people.
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Trump senior gives helping hand to Donald
Donald Trump has claimed he started his business with a “very small loan” of $1 million from his father in 1975. Oh, what we could all do with that “small” start in life, but it turns out it was even more substantial.
A 2018 New York Times investigation, based on over 100,000 financial documents, revealed he received an inheritance worth about $413 million, in part through alleged tax schemes in the 1990s. The report stated that Trump and his siblings received over $1 billion from their parents by allegedly helping them avoid taxes. Both Trump and the White House at the time he was controlling it dismissed the story.
Let’s set the record straight: Trump is not a “successful businessman.” He is, objectively, a business failure.
— Robert Reich (@RBReich) November 1, 2024
He says he'll run the country like he ran his businesses. But here's the thing — he ran his businesses into the ground. pic.twitter.com/czal6RwwMo
Trump words harmed business
However, his rhetoric during the 2016 presidential campaign saw the brand name take a hit causing corporate partners to cut ties and residents of buildings bearing the Trump name seeking to have it removed. While he was in the White House, projects to expand the family business were put on hold or even reduced.
Since leaving office they have been revived with several licensing deals overseas. He’s even ventured into new areas including the digital sphere.
More recently, of course, Trump lost a civil tax fraud case in New York and was ordered to pay $464 million in fines, later reduced to a cash payment of about a third of that amount to avoid asset seizure during his appeal.
What are Donald Trump’s main businesses in 2024?
The Trump Organization’s primary business is real estate with its holdings in the ballpark of roughly $1.8 billion according to a Forbes’ analysis of Trump’s net worth. These include residential and commercial properties as well as golf clubs and resorts with a large portion in New York but also spread across the United States and abroad.
During Donald Trump’s first campaign and his presidency, his foreign business dealings drew constant scrutiny for potential conflicts of interest. Now, as he marches toward the GOP nomination in his comeback bid, his overseas holdings are growing. https://t.co/JwmwHkpW1w
— The Wall Street Journal (@WSJ) February 5, 2024
In Federal Election Commission financial disclosure filings from 2021 he reported over $5 million in earnings at each of several of them including the Mar-a-Lago Club, golf clubs in New Jersey, Palm Beach, Virginia and Scotland. Additionally, other signature properties in New York and Chicago raked in over $5 million a piece that year.
While the valuation of his Truth Social digital platform is between $5 million and $25 million, he claimed taking no more than $200 in the disclosure. However, the SEC recently gave the green light for Trump Media and Technology Group, the parent company of the platform, to merge with Digital World Acquisition.
Four-reporter @washingtonpost story on our owner Jeff Bezos, whose other companies have worked to build relationship with Trump and compete for billions in government contracts. “With Jeff, it’s always only about business,” a former employee said. pic.twitter.com/0TXYwId262
— Drew Harwell (@drewharwell) October 30, 2024
If shareholders approve the deal, it could be a windfall for the former president who has used Truth Social to reach his supporters after he was banned for a time from other social media platforms in the wake of the January 6th assault of the US Capitol.
Besides those above, Trump recently launched a new line of high-priced footwear at Sneaker Con in Philadelphia based on his time in the White House and legal troubles since leaving. He has also been dabbling in NFTs bearing photoshopped pictures of him despite the market for the digital art collapsing prior to him getting into it.
Penn-Wharton Business School -- Trump's own alma mater -- says that Harris's economic plans will boost the income of low- and middle-income Americans, while Trump's plan will overwhelmingly favor the rich.https://t.co/x2OAMb0ph6 pic.twitter.com/wdGvSKnPxr
— David Roberts (@drvolts) October 31, 2024
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If Trump wins the 2024 election, all bets are off as to where his future fortunes will come from. He’s already talked of putting Elon Musk in his decision-making group and Jeff Bezos is happily ignoring some of the more pungent comments coming out of the campaign for business gains. No conflict of interest there then. The rich look to benefit from a Trump presidency, which would see the gap between everyone else grow.
Given the almost unlimited power that he will have for, at least, four years, the chances of him being held accountable for his misdemeanors of the past are slim to none.
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