With the recent results of the 2016 U.S. Presidential election, many are curious about Donald Trump’s net worth. He has always been a controversial businessman, and now he is firmly under the spotlight as he has been elected as the next President of the United States. Now that he has been elected, he will be scrutinized for every deal he has ever done, every venture he has undertaken and every business relationship he has had. Donald Trump, the president in waiting, is accountable for everything that Donald Trump, the businessman has ever done.
There is a lot of confusion regarding Trump’s net worth. According to the Forbes 400 ranking list for 2016, Trump is placed at number 156 and is worth $3.7 billion. This ranking is as of December 15, 2016. According to a Fortune study conducted in May 2016, Trump’s worth is $3.92 billion and according to the Bloomberg Billionaire Index, Trump’s worth is around $2.9 billion.
What does Trump himself have to say about his wealth? According to Donald Trump, he is worth more than $10.0 billions of today.
When asked about the valuations done by other financial sources, Trump says that the media is “terrible” and “dishonest” and has grossly underestimated his worth.
Why the confusion?
Why is there so much difference between Trump’s valuation and the valuation by other financial sources? There is a difference of almost $6.3 billion between the two! It’s primarily because of the disputed value of Trump’s brand and some individual properties. Trump did not start at the bottom, as some of his campaign executives had claimed at the beginning of his presidential run. Trump inherited about $60.0 million from his father in 1999. In the last 25 years, Trump has turned that small fortune into a multi-billion dollar empire. Trump insists that the value of his brand is $3.0 billion, but many in the media dispute this. They say that Trump’s brand is worth far less. Also, Trump’s official wealth disclosure documents are vague, due to the provision in the law that one has to disclose the exact value of assets only if the value is less than $50.0 million.
Donald Trump’s Net Worth Facts
|Comparison Chart||Net Worth|
|Donald Trump Net Worth||$3.7 billion [2016 calculated estimate]|
|Donald Trump’s Net Worth according to Donald Trump||$10.0 billion +|
|Donald Trump Net Worth vs. Hillary Clinton Net Worth||$3.7 billion vs. $31.0 million – 120 times larger|
|Donald Trump Net Worth vs. Barack Obama Net Worth||$3.7 billion vs. $12.2 million – 303 times larger|
|Donald Trump Net Worth vs. Igor Olenicoff Net Worth||$3.7 billion vs. $3.7 billion – Equal|
|Donald Trump Net Worth vs. Steven Spielberg Net Worth||$3.7 billion vs. $3.7 billion -Equal|
|Donald Trump Net Worth vs. Warren Buffett Net Worth||$3.7 billion vs. $65.5 billion – 18 times smaller|
|Donald Trump Net Worth vs. Bill Gates Net Worth||$3.7 billion vs. $81.0 billion – 22 times smaller|
|Donald Trump Net Worth vs. Median US household Net Worth||$3.7 billion vs. $56,516 – 65,468 times larger|
Even if we assume that Trump’s real worth is only $3.7 billion, he is still one of the richest men on earth. His wealth is exponentially higher than the wealth of any common American, or any average earning person around the world, for that matter. Trump’s net worth of $3.7 billion is 120 times larger than Hillary Clinton’s net worth of $31.0 million, while it is 303 times bigger than President Barack Obama’s net worth of $12.2 million. Trump’s net worth of $3.7 billion is equal to fellow real estate mogul, Igor Olenicoff’s and filmmaker Steven Spielberg’s net worth of $3.7 billion. By comparison, Trump’s wealth is smaller than that of software maker, Bill Gates and investor, Warren Buffett, who land within the top 5 of Forbes’ list of the top 400 wealthiest persons in America 2016. Donald Trump’s net worth of $3.7 billion is 18 times smaller than Warren Buffett’s net worth of $65.5 billion, and 22 times smaller than Bill Gates’ net worth of $81.0 billion. When compared to the median U.S. household’s net worth of $56,516.00 [2015 figures], Donald Trump’s net worth of $3.7 billion is 65,468 times bigger!
Donald Trump’s Net Worth Timeline
Donald Trump’s Net Worth by Years
|Donald Trump Net Worth 2007||$1.4 billion|
|Donald Trump Net Worth 2008||$1.5 billion|
|Donald Trump Net Worth 2009||$1.6 billion|
|Donald Trump Net Worth 2010||$2.0 billion|
|Donald Trump Net Worth 2011||$2.0 billion|
|Donald Trump Net Worth 2012||$2.9 billion|
|Donald Trump Net Worth 2013||$2.9 billion|
|Donald Trump Net Worth 2014||$2.9 billion|
|Donald Trump Net Worth 2015||$3.4 billion|
|Donald Trump Net Worth 2016||$3.7 billion|
Donald Trump’s Net Worth Breakdown
Donald Trump’s Net Worth Sources: Hotels, Casinos, Golf Resorts
Donald Trump owns properties both in the United States and in other countries around the world. Initially, he started out as a Manhattan-based businessman and then in the ‘90s, he started buying properties in other parts of America. From the 2000s onward, Trump started expanding his business to other parts of the world like Scotland, Ireland, Dubai, Turkey, Indonesia, Canada, South Korea, Panama, Dominican Republic, Philippines, and India. Trump works through his apex organization, The Trump Organization, which has interests in real estate development, investing, brokerage, sales & marketing, and property management. His company owns, operates, invests and develops residential real estates, resorts, hotels, residential towers and golf courses in different countries. The company also owns several hundred thousand square feet of prime Manhattan real estate.
Trump earns from his businesses in several industries like real estate, construction, hospitality, entertainment, book and magazine publishing, media, model management, beauty pageants, retail, financial services, board game development, food and beverages, online travel and helicopter air services. He also earns from his reality television show, The Apprentice, as well as from his own New York television company that produces other TV programs. Trump also makes money from retail and in the past, has made money from selling fashion apparel, jewelry and accessories, books, home furnishings, lighting products, bath textiles and accessories, bedding, home fragrance products, small leather goods, bar ware, steaks, chocolate bars and bottled spring water.
All these businesses are owned collectively by The Trump Organization, of which Trump is the sole owner. Now that Trump is the president-elect of the U.S., he will have to leave the business as continuing to run it will result in a conflict of interest with certain U.S. laws. Currently, his three adult children Eric, Ivanka and Donald Jr. (as well as several unrelated employees) serve as key executives and they run the company. It remains to be seen what responsibilities each executive will ultimately get when Trump enters the White House. There is little doubt that Trump will have the final word in carving out these responsibilities and passing the responsibility to the select few who will run the company.
Asset By Asset Breakdown of Donald Trump’s Wealth
|Trump Tower [New York City]||$371.0 million|
|1290 Avenue of the Americas [New York City]||$409.0 million|
|Niketown [New York City]||$390.0 million|
|40 Wall Street [New York City]||$345.0 million|
|Trump Park Avenue [New York City]||$177.0 million|
|Trump Parc/Trump Parc East (New York City)||$88.0 million|
|Trump International Hotel and Tower, Central Park West (New York City)||$38.0 million|
|Trump World Tower, 845 United Nations Plaza (New York City)||$27.0 million|
|Spring Creek Towers (Brooklyn, N.Y.)||$25.0 million|
|Trump Plaza (New York City)||$13.0 million|
|Trump Tower Penthouse (New York City||$90.0 million|
|555 California Street (San Francisco)||$317.0 million|
|Other Donald Trump Properties||$338.0 million|
|From Other Sources of Donald Trump’s Wealth||$1.07 billion|
|Total Donald Trump Wealth||$3.7 billion|
1] Trump Tower (New York City)
Type: Office and retail
What Trump Owns: 244,000 sq. ft.
Total Value: $471.0 million
Debt: $100.0 million
Net Value: $371.0 million
Change vs. 2015: -$159.0 million
Trump announced his arrival in the Manhattan real estate business by building this Fifth Avenue glass skyscraper in 1983, but not without controversy. The contractor he hired to demolish the existing Bonwit Teller department store has been accused of hiring Polish laborers who were not paid their legal wages. They were allegedly paid “off the books” and were made to work almost 12 hours a day, seven days a week. Trump was accused of being a party to this, but he has denied any wrongdoing. He still had to battle in court for years before he reached a confidential agreement in 1999. The Trump Tower is worth less this year because of a 20% drop in the building’s net operating income and an estimated 8% decline in the overall Manhattan real estate business. Trump lives in the three-story penthouse in this building with his family.
2] 1290 Avenue of the Americas (New York City)
Type: Office and retail
What Trump Owns: 30%
Total Value: $2.31 billion
Debt: $950 million
Net Value of Stake: $409 million
Change vs. 2015: -$62 million
There is an interesting story behind how Trump came to holding a 30% stake in this building. In 1994, Trump was stuck with a 78-acre tract of land on New York’s Upper West Side near the Hudson River. Trump managed to convince a group of Chinese businessmen to buy this property from him and keep him on as a 30% owner limited partner. In 2006, these Chinese investors sold this property for $1.76 billion and bought this building and the Bank of America Center in San Francisco. Trump sued them, claiming that the tract was worth much more than its sale price. He lost his case in court and ended up being a 30% owner of this building. Trump has lost $62 million due to the slump in the New York market.
3] Niketown (New York City)
What Trump Owns: Ground lease through 2079
Total Value: $400.0 million
Debt: $10.0 million
Net Value: $390.0 million
Change vs. 2015: -$52.0 million
Trump first convinced Nike to rent the space in 1995 and build a single building for their store. Trump does not own this space, but has the leasing rights up until 2079. This property, which is situated in the prime real estate location on 57th Street, gives Trump some of his highest rental income, but now Nike is reportedly moving out in May 2017. The value of this building has decreased this year because of the decline of the real estate market in New York.
4] 40 Wall Street (New York City)
Type: Office and retail
What Trump Owns: Ground lease through 2059
Total Value: $501.0 million
Debt: $156.0 million
Net Value: $345.0 million
Change vs. 2015: -$28.0 million
This 71-story building has been owned by several parties including the former dictator of Philippines, Ferdinand Marcos and his wife Imelda, before Trump bought it for a measly $10.0 million according to reports. Trump created controversy when he told a TV station that this building was the tallest in downtown Manhattan after the collapse of the Twin Towers in 2001. Even this property declined in value this year due to a slump in the New York real estate market.
5] Trump Park Avenue (New York City)
Type: Residential and retail
What Trump Owns: 49,564 sq. ft. of condos; 27,467 sq. ft. of retail
Total Value: $191.0 million
Debt: $14.3 million
Net Value: $177.0 million
Change vs. 2015: -$27.0 million
Trump Park Avenue is a residential condominium developed by Trump in 2004. Before that, it was a luxury hotel, which was purchased by Trump for $115.0 million in 2002. Trump converted it into a condominium in 2004 and it now contains 120 luxury condominiums and eight penthouses and is 32 stories high. It offers various services and amenities to its residents, including a doorman, personal maids, laundry and household cleaning services, and a fitness center. It is one of the most expensive urban neighborhoods in the United States. This asset lost value as well this year because of a slump in the New York real estate market.
6] Trump Parc/Trump Parc East (New York City)
Type: Residential and retail
What Trump Owns: 11,750 sq. ft. of condos; 14,963 sq. feet of retail; 13,108 sq. ft. of a garage
Total Value: $88.0 million
Net Value: $88.0 million
Change vs. 2015: +$17.0 million
In 1981, Trump bought two buildings that gave a great view of Central Park with the plan to demolish them to build a new skyscraper; however, Trump could not get rid of the rent-controlled tenants at Trump Parc East. Residents claim that Trump let the building fall into disrepair when they refused to vacate the building and even offered to house the homeless of the city in the empty units. The residents sued Trump for harassment, and Trump pulled away the high-cost services saying that the tenants could not afford them. He alleged that rich people were taking advantage of the rent control laws. In the end, Trump reached an agreement with the tenants and converted the units into condominiums and let them stay. Trump’s son Eric lives in this building, whose value went up this year because Trump still owns some retail space and a parking garage in Trump Parc, which is the building next door.
7] Trump International Hotel and Tower, Central Park West (New York City)
Type: Hotel/residential and retail
What Trump Owns: 10,578 sq. ft. of retail; 18,370 sq. ft. of a garage; one 460-sq.-ft. condo
Total Value: $38.0 million
Net Value of Stake: $38.0 million
Change vs. 2015: +$21.0 million
This high-rise building located in Manhattan is owned by the General Electric Pension Trust and contains hotel rooms and residential condominiums. Trump made renovations to the building in 1995 and reconstructed it. Though he had planned initially to convert the entire building into a hotel, it did not work out due to zoning laws.
8] Trump World Tower, 845 United Nations Plaza (New York City)
Type: Residential and retail
What Trump Owns: 9,007 sq. ft. of retail; 28,579 sq. ft. of a garage; one 2,835-square-foot condo
Total Value: $27.0 million
Net Value of Stake: $27.0 million
Change vs. 2015: -$16.0 million
Trump World Tower is a residential skyscraper located at 845 United Nations Plaza in Midtown Manhattan. Previously, an 18-story building known as the United Engineering Center was in its place but was demolished in 1998 to make room for the Trump World Tower. Trump and his partners, including the Daewoo Corporation, a South Korean conglomerate, bought this building for $52.0 million in 1997. Construction began in 1999 and concluded in 2001. The tower has 72 constructed floors and has curtain-wall facades of dark, bronze-tinted glass. This property too lost value in 2016 because of the downturn in Manhattan real estate.
9] Spring Creek Towers (Brooklyn, N.Y.)
Type: Affordable housing units
What Trump Owns: 4% stake
Total Value: $1.0 billion
Debt: $408.0 million
Net value of stake: $25.0 million
The actual name of this housing development is Starrett City, but it is informally known as Spring Creek Towers. It is located in the Spring Creek section of Brooklyn and opened in 1974. This housing development contains 5,881 apartment units in 46 buildings. It has eight parking garages, a community center, its own field, recreational area, and its own boxing gym. Though it has many sports facilities, including a gym, handball court, park, and basketball court, it does not have any schools.
10] Trump Plaza (New York City)
Type: Residential and retail
What Trump Owns: Ground lease through 2082
Total Value: $27.7 million
Debt: $14.7 million
Net Value: $13.0 million
Change vs. 2015: -$16.0 million
Trump built this very showy and attractive, 39-story, 175-unit cooperative apartment tower at 167 East 61st Street in the Upper east Side. It has a low-rise, double-height retail base with a curved glass roof line. It has excellent views, a concierge, health club, and garage. Penthouse apartments make up the top two floors and a separate wing on 68th is made up of townhouse-style units.
11] Trump Tower Penthouse (New York City)
Type: Personal residence
What Trump Owns: 30,000 sq. ft.
Total Value: $90.0 million
Net Value: $90.0 million
Change vs. 2015: -$10.0 million
This is where Trump intends to spend as much time as possible even though he will be moving to the White House soon. Tis penthouse is decorated with 24-karat gold and marble features in the style of Louis XIV and also has a dedicated elevator that takes Trump to his office on the 26th floor of Trump Tower. The property overlooks Central Park and is breathtakingly beautiful from the inside because of the expensive interior decoration that Trump has done. This property lost a bit of value because of the drop in value for Manhattan real estate.
12] 555 California Street (San Francisco)
What Trump Owns: 30% stake
Building Value: $1.645 billion
Debt: $589.0 million
Net Value of Stake: $317.0 million
Change vs. 2015: +$32.0 million
This 52-story skyscraper in San Francisco, California, is the second tallest building in the city, second to the Transamerica Pyramid, and is the focal point of the Financial District. The skyscraper was built to show the wealth, power, and importance of corporate America and houses many prestigious firms, including Bank of America, Barclays Capital, Goldman Sachs, Microsoft, Morgan Stanley, and Wells Fargo Advisers. The building has thousands of bay windows that are meant to increase its rental value. This building has been used for film shoots for a few blockbusters including Dirty Harry, The Towering Inferno, and An Eye For An Eye. The building is built on two huge Teflon slabs meant to slide over each other in the case of an earthquake. The value of Trump’s stake rose by about $32.0 million this year even though the San Francisco real estate market dipped a little this year.
The Donald Trump Brand: $660.0 million
There is one more asset to consider in Donald Trump’s net worth: The Donald Trump Brand. This is very difficult to calculate though there is no doubt that Trump’s name is worth something. History supports this. A failing golf resort that adopted the Trump name turned a profit of $50.0 million a year. Golfers trust the Trump name and to be honest, and Trump works hard to ensure that they continue to do so by ensuring that they get the best facilities. This is why Trump has been able to sell licenses to use his name on golf courses around the world. The problem is that while Trump claims that his brand is worth $3.0 billion, others peg it at a much lower value, saying that it is more like $660.0 million.
Donald Trump Net Worth Debts
According to Trump’s federal disclosures, there are 15 items that subtract from Donald Trump’s net worth figures. Four of them are listed as “over $50.0 million.” They are: Trump Tower, 40 Wall Street, Trump National Doral, and Trump International Hotel in Chicago. The total value of Trump’s debt comes to about $742.0 million.
Donald Trump Annual Income and Growth
As of December 13, 2016, Trump makes at least $476.0 million and up to $600.0 million a year as income. This figure has been taken from his U.S. Government financial disclosure forms, which are most probably true because Trump could go to jail for falsifying as per law. Any income over $5.0 million a year can simply be listed as “over $5.0 million.” In fact, that’s what Trump has done in several cases without giving any further clarification.
How Much Money Does Donald Trump Make in a Year?
|Source of Income||Amount in Dollars (approximate)|
|Employment Assets||$433.0 million|
|Melania Trump’s Income||$500,000|
|Total Donald Trump Yearly Salary||At Least $476.5 million|
Employment assets mean the assets in which Trump works directly or manages. One example is the Trump Ruffin Tower in Las Vegas, Nevada, where, in his disclosure forms, Trump lists his annual income at $45.6 million. Trump works directly as president, director, or chairman of over 500 corporations. He is listed as a trustee in over 14 different trusts. Every one of these companies and trusts contributes in some way to the $433.0 million a year to what Trump makes from “employment assets.”
Trump’s biggest income sources are real estate and golf.
10 Biggest Donald Trump Income Sources
|Source of Income||Donald Trump Yearly Income (approximate)|
|Trump National Doral [Golf], Miami, Florida||$49.4 million|
|Trump Ruffin Tower I LLC, Las Vegas, Nevada||$45.6 million|
|40 Wall Street LLC||$43.2 million|
|Trump National Golf Club, Los Angeles, California||$21.2 million|
|Trump Turnberry [Golf], Scotland||$20.4 million|
|Trump National Golf Club, Bedminster, New Jersey||$16.1 million|
|Mar-a-Lago Club, Palm Beach, Florida||$15.6 million|
|Trump National Golf Club, Washington, DC||$14.0 million|
|Trump International Golf Club, West Palm Beach, Florida||$12.7 million|
|Trump National Golf Club, Jupiter, Florida||$12.4 million|
|Total Income from Top Ten Income Sources||$250.6 million|
Donald Trump’s Bankruptcies
Trump inherited $60.0 million from his father, but unlike many others, he went about multiplying his wealth. To his credit, he is a billionaire today due to his hard work and determination. But he has also declared bankruptcy four times so far. Chapter 11 in business is usually used as a debt restructuring tool, so that the business does not sink while the creditors can renegotiate the terms of the debt. Despite this, Trump today is on dry ground. Assuming that he is actually worth $3.7 billion today, it means he has multiplied his wealth by at least 61 times.
Donald Trump Scandals
1] Trump University
Trump University LLC, was an American for-profit education company that ran a real estate training program from 2005 till 2010. It is now defunct due to multiple lawsuits filed against it. It was founded by Donald Trump and his associates and offered courses in real estate, asset management, entrepreneurship, and wealth creation. In 2011, the New York’s Attorney General’s office investigated it for illegal business practices which lead to a lawsuit filed in 2013. There were also allegations that Trump University had cheated its students by using misleading marketing practices and had taken part in aggressive sales tactics. Trump finally settled all the lawsuits in November 2016 for a total of $25.0 million.
2] Trump Airlines
Trump Airlines was an airline owned by Trump from 1989 to 1992. It was originally part of Eastern Air Lines and operated domestic flights from New York to Boston, Washington DC, and Orlando. Trump had acquired this airline with the help of a $380.0 million loan from 22 banks in June 1989. He renamed it the Trump Shuttle. Trump used it for luxury services and as an effort to push the Trump brand. Almost from its start, financial trouble plagued Trump Airlines. The passengers wanted convenience and not a luxury, so the concept never took off. Then the US Northwest entered an economic depression, and the 1st Gulf War led to fuel prices getting doubled. There was never any profit and finally Trump sold the ailing airlines to the US Air Group. Trump had to default on his loans to pay off the debt.
3] Donald J. Trump Foundation
This foundation admitted in its IRS filings that it broke several federal rules against self-dealing. According to federal law, charitable organizations like the Trump Foundation cannot use its funding to help their leader’s business interests or families. It is alleged that Trump used funds from this foundation for use in his presidential campaign. It is also alleged that Trump used this as a slush fund to resolve his legal issues. The Foundation has admitted that it has transferred assets to a “disqualified person” though it does not give details of how much, when and to whom. The Foundation is also under investigation for soliciting donations without legal permits to do so. It is also alleged that Trump may have given improper political donations. He is accused of raising money from others, giving it away and claiming credit for the donation. If proved, Trump will need to reimburse all the money he is accused of taking away.
4] Mafia Ties
Trump has been accused of dealing with the Mafia in New York and Atlantic City in the 1970s. Trump claimed that he was an unwilling participant who got involved without any knowledge but not everyone agrees. Trump’s lawyer, Cohn, also represented the Genovese family crime boss Tony Salerno. It is alleged that Trump paid twice the market rate to a mobster for the land under Trump Plaza in Atlantic City. Trump is accused of inviting Robert LiButti, an associate of crime boss John Gotti, on Trump’s yacht and helicopter. Trump’s company also bought nine luxury cars for LiButti. Though Trump was never convicted, his company was forced to pay a fine for gifting cars to LiButti.
5] Four Bankruptcies
Trump has declared bankruptcies four times in 1991, 1992, 2004 and 2009.
A] In the late 1980s, Trump built a new casino in Atlantic City called Trump Taj Mahal by using junk bonds even though he had earlier said that he didn’t need junk bonds. Even though he built the casino, he couldn’t make the interest payments, so his company declared bankruptcy in 1991. He had to sell off his yacht, his airlines and half his ownership in the Taj Mahal casino.
B] In 1992, the Trump Plaza, another of Trump’s Atlantic City casinos, went under after losing more than $550.0 million. Trump had to give up his stake, so he was personally safe from losses. He surrendered his salary and his role in day-to-day operations but got to keep his CEO title. By the end of this sorry affair, he had about $900.0 million in personal debt!
C] In 2004, Trump Hotels and Casino Resorts was $1.8 billion in debt. Trump’s company filed for bankruptcy and morphed into Trump Entertainment Resorts. Although Trump was the chairman of the new company he no longer had any controlling stake in it.
D] In 2009, Trump Entertainment Resorts went bankrupt again after the real estate collapsed. Trump resigned from the board, but the company continued to use his name. This was not to Trump’s liking and in 2014, he sued them to remove his name from the company and the casinos. He won, and both his casinos were closed.
Trump bristles at the suggestion that he personally declared bankruptcy and insists that his companies went bankrupt not him. Trump argues that this is all part of business and nothing illegal. To his defense, he names other famous businessmen like Carl Icahn, Leon Black, and Henry Kravis who declared bankruptcy. Trump says that, “it’s business and the game is not over.” He will work within the laws of the country and be successful again.
6] Antitrust Violations
In 1986, Trump made moves to expand his casino empire into Atlantic City by starting a hostile takeover of two casino companies, Holiday, and Bally. Trump started buying up stock in these two companies so that he would soon have a controlling stake in them. Bally figured out what was going on and sued Trump for antitrust violations. The company accused Trump of not paying the control premium to its public shareholders by not informing them of his takeover intention. Trump had to give up his takeover attempt in 1987, but the Federal Trade Commission fined him $750,000 for not informing the authorities of his purchase of stock in these two companies. Trump should have because he had exceeded minimum disclosure levels.
7] Refusing to Pay Workers and Contractors
Contractors, plumbers, dishwashers, and waiters have accused Trump of getting them to work but not paying their dues for services rendered. Some of these payments run into hundreds of thousands of dollars, and several businesses have gone under due to these unpaid bills. Trump says this is due to their shoddy workmanship, but there are so many cases that it is hard to believe Trump. These allegations tarnished Trump’s reputation because they showed how he is hurting honest, hardworking Americans on petty causes. This is unlike the image he is trying to portray that he will drive a hard business bargain with America’s friends and foes.
8] Buying Up His Books
The Trump Campaign bought his book Crippled America: How to Make America Great Again by spending more than $55,000. What this means is that Trump used donor money to buy his book thereby sending the cash back to himself. The bought copies were given to delegates at the Republican National Convention. This breaks FEC rules because funds from the campaign cannot end up in the candidate’s pocket. Trump also increased the rent for his campaign offices once he stopped paying for his campaign thereby earning extra money.
9] The Cuban Affair
The US law prohibits any commercial involvement of Americans in Cuba, but it is likely that Trump has been active in Cuba for almost the last two decades. When the Clinton administration loosened some rules in 1998, Trump scouted the island for business opportunities and spent about $68,000 there. This is in violation of the law. Recently, Trump executives have scouted Cuba, looking for potential golf course opportunities. Trump and his company have not given any detailed replies to any of these allegations. One executive has said that he went to Cuba because he wants to form a company with Trump to open and run golf resorts in Cuba. It seems likely that these actions by Trump have broken the laws and there will be some punitive action.
Source: The Atlantic
The Future is Wide Open
To say that Trump’s business record has been controversial is putting it mildly. Trump will now have to disassociate himself from his business, as he begins the monumental task of governing America. Now, Trump is in the unenviable position of enforcing the law. Until now, he made all the decisions and paid the consequences. Now, it will probably be run by his three adult children and some key executives. Will the Trump business empire continue to grow or will it falter? Can his successors set the same blistering pace that Trump himself set? Will his net worth continue to rise in the future? Like in most cases, only time will tell!