Wealth of Donald Trump
Donald Trump is the beneficiary of several trust funds set up by his father and paternal grandmother beginning in 1949 when he was three years old. Trump has acknowledged borrowing just USD 1 million from his father as a young adult. Trump received USD 427. 4 million from the show’s beginning in 2004 through 2018. Trump was listed on the initial Forbes List of wealthy individuals in 1982 as having a share of his family’s estimated USD 200 million net worth.
About Wealth of Donald Trump in brief
The net worth of Donald Trump, the 45th president of the United States, is not publicly known. Forbes estimates it at USD 2. 5 billion as of 28 September 2020. Trump is the beneficiary of several trust funds set up by his father and paternal grandmother beginning in 1949 when he was three years old. Trump has acknowledged borrowing just USD 1 million from his father as a young adult, in a sworn deposition and repeatedly on the campaign trail, calling his loan \”a very small amount of money\”. Trump received USD 427. 4 million from the show’s beginning in 2004 through 2018. He paid no taxes in 2008. In 2009, he declared over USD 700 million in business losses and, on that basis, asked for a refund of his federal income taxes paid in 2005–2007. He was eventually refunded the USD 70. 1 million plus over USD2. 7 million in interest. As of 2020, auditors are still considering the matter. If he is asked to return that federal refund, then, considering added interest and penalties, he may owe over USD 100 million to the federal government. Trump was listed on the initial Forbes List of wealthy individuals in 1982 as having a share of his family’s estimated USD 200 million net worth. Former Forbes reporter Jonathan Greenberg said in 2018 that during the 1980s Trump had deceived him about his actual net worth and his share of the family assets in order to appear on the list. In 1993, when Trump took two loans totaling USD 30 million from his siblings, their anticipated shares of Fred’s estate amounted to USD 3.
5 million each. Upon Fred Trump’s death in 1999, his will divided USD 20 million after taxes among his surviving children. The New York Times referred to Trump’s self-reported wealth in a skeptical article about Trump’s wealth in 2005. At the time, three individuals with direct knowledge of Trump’s finances told reporter Timothy L. O’Brien that Trump’s net worth was between USD 250 million and USD 6billion. In 2005, Trump sued the New York State tax department for libel, claiming that he was worth between USD 5 to USD 6 billion. The case was settled out of court for a reported sum of USD 5 billion; Trump was never awarded the money. In 2008, Trump filed taxes in 2009, when he declared over USD 700 million in business losses, and he was eventually refunded the USD 70 1 million plus overUSD 2. 7 million in interest. He may be obligated to return those refunds, which often piggyback on federal filings, too. In our first-ever list, in 1982, we included him at USD 100 million, but Trump was worth roughly USD 5 million—a paltry sum by the standards of his super-monied peers. Several books showed several peers actually showed only much much much later. In 1995, Trump’s financial losses in the 1990s caused him to be dropped from the Forbes List, and from 1990 to 1995 to reportedly obliged to borrow from his brothers.
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This page is based on the article Wealth of Donald Trump published in Wikipedia (as of Nov. 27, 2020) and was automatically summarized using artificial intelligence.
