Donald John Trump (born June 14, 1946) is an American businessman, television personality, politician, and the 45th President of the United States.
Born and raised in Jamaica, Queens, New York City, Trump received an economics degree from the Wharton School of the University of Pennsylvania in 1968. In 1971, he took charge of his family's real estate and construction firm, Elizabeth Trump & Son, which was later renamed The Trump Organization. During his business career, Trump built, renovated, and managed numerous office towers, hotels, casinos, and golf courses. He has lent the use of his name in the branding of various products. He owned the Miss USA and Miss Universe pageants from 1996 to 2015, and he hosted The Apprentice, a reality television series on NBC, from 2004 to 2015. As of 2016, Forbes listed him as the 324th wealthiest person in the world and 113th richest in the United States, with a net worth of $4.5 billion.
Business
In 1971 Trump took over the family real estate firm, Elizabeth Trump & Son, and renamed it The Trump Organization. He greatly expanded its real estate operations as well as venturing into numerous other business activities. It eventually became the umbrella organization for several hundred individual business ventures and partnerships.
Upon Trump's being elected president in November 2016, the question arose how he would avoid his business activities causing conflicts of interest while president. At a press conference on January 10, 2017, Trump said he and his daughter Ivanka will resign all roles with The Trump Organization, while his two oldest sons Don Jr. and Eric run the business, together with existing Chief Financial Officer Allen Weisselberg. Trump himself will retain his financial stake in the business. His attorney Sherri Dillon said that before the January 20 inauguration Trump would put the business assets into a trust, which would hire an ethics advisor and a compliance counsel. She added that the Trump Organization would not pursue any new foreign business deals, while continuing to pursue domestic opportunities.
Net Worth
Trump was listed on the initial Forbes List of wealthy individuals in 1982 as having an estimated $200 million fortune, including a share of his father's estimated $200 million net worth. He was absent from the list from 1990 to 1995 following losses which reportedly obliged him to borrow from his siblings' trusts in 1993.Trump told campaign audiences he began his career with "a small loan of one million dollars" from his father, which he paid back with interest.
On June 16, 2015, when announcing his candidacy, Trump released a one-page financial summary stating a net worth of $8,737,540,000."I'm really rich", he said. Forbes believed his suggestion of $9 billion was "a whopper", figuring it was actually $4.1 billion. The summary statement includes $3.3 billion worth of "real estate licensing deals, brand and branded developments", putting a figure on Trump's estimate of his own brand value. The July 2015 FEC disclosure reports assets worth above $1.4 billion and debts above $265 million. According to Bloomberg, Trump "only reported revenue for [his] golf properties in his campaign filings even though the disclosure form asks for income", whereas independent filings showed his European golf properties to be unprofitable.
After Trump made controversial remarks about illegal immigrants in 2015, he lost business contracts with NBCUniversal, Univision, Macy's, Serta, PVH Corporation, and Perfumania, which Forbes estimated negatively impacted his net worth by $125 million. The value of the Trump brand may have fallen further during his presidential campaign, as some consumers boycotted Trump-branded products and services to protest his candidacy. Bookings and foot traffic at Trump-branded properties fell off sharply in 2016, and the release of the Access Hollywood tape recordings in October 2016 exacerbated this.
In their 2016 annual billionaires' rankings, Forbes estimated Trump's net worth at $4.5 billion (113th in the United States, 324th in the world) and Bloomberg at $3 billion, making him one of the richest politicians in American history. Trump himself stated that his net worth was over $10 billion, with the discrepancy essentially stemming from the uncertain value of appraised property and of his personal brand.
If U Liked it...do..like..share..
follow me on:
G+ scroll down
Facebook info_6
YouTube Subscribe
Thank You ^_^
No comments:
Post a Comment