If reelected in 2024, former President Donald Trump could break his own record as wealthiest person ever elected president. Though his wealth declined significantly while he was in office, it has since significantly rebounded and is now over where it was in 2016.
That news comes from Bloomberg, analysis from which indicates that the former president’s fortune now stands at $3.1 billion. That is about $100 more than Trump’s estimated $3 billion wealth in 2016 and a significant rebound from the $2.5 billion to which it had crashed in 2020 when he left office.
Describing how Trump rebuilt his fortune, Bloomberg’s analysis noted that Mar-a-Lago and the Dorsal resort in Miami both have benefitted substantially from the boom in the state under the aegis of Ron DeSantis, who has made the state an extremely attractive alternative to high-tax, high-regulation, little liberty blue states.
Further, Bloomberg’s analysis notes that his golf course revenues have bounced back up significantly from 2019, with revenues at them surging by over 50 percent since then. Also helping is that Trump sold off his famous hotel in Washington, D.C. and paid off loans. That positioned him more heavily in cash, which has done well thanks to rising interest rates, and paying off loans helps him avoid feeling the pinch from those interest rate increases.
Eric Trump, who works as the executive vice president of the Trump Organization, said in an interview, “The company has never been stronger and never been better. We have the most cash and the lowest debt. We are in a fantastic spot.”
And while the Bloomberg Billionaires Index might be a generally good metric to go buy for examining the vast wealth of the upper reaches of the economic elite, former President Trump claims his net worth is far higher than it estimates.
According to an estimate of Trump’s wealth that he provided as part of a lawsuit in 2021, his net worth is about $4.5 billion. That 2021 estimate was down significantly from 2016, when he claimed to have a net worth of $5.8 billion.
Whether the Bloomberg estimate or Trump’s own estimate is used, the fall from 2016 to his 2021 exit from the White House shows that he sacrificed heavily in a financial way by running for president and then managing to win the race.
In any case, New York state posits, as part of AG James’ suit against him, that Trump had a far lower $2.6 billion net worth in 2021, which would be more or less in line with the Bloomberg estimate from that post-2020 election time period and might be a more accurate, if less bombastic, estimate of his immense wealth.
Commenting on that suit in a recent post on Truth Social, Trump said, “Judge Engoron should end the ridiculous Political Witch Hunt against me. I have TOTALLY WON THIS CASE, which should never have been brought. The only Fraud was committed by A.G. Letitia James in convincing the Judge that Mar-a-Lago was only worth $18,000,000 (in order to make my “numbers” look bad), when it is worth 50 to 100 times that amount. She campaigned on “getting Trump.” She should be prosecuted!“
"*" indicates required fields