Donald Trump is an American politician, real-estate developer, author and television personality. As of this writing, Donald Trump has a net worth of $2 billion. Before becoming President of the United States, Donald was known primarily for being the owner of The Trump Organization, a real estate and licensing conglomerate. The Trump Organization owns commercial and residential properties around the globe, notably golf courses in the United States, Scotland and Ireland. He has also earned hundreds of millions of dollars since 2000 licensing his name for a myriad of products and real estate development projects around the world.
The bargain NBC presented to Donald and Mark Burnett to develop “The Apprentice” was almost too good to be true. In accordance with his Apprentice contract, Donald was entitled to 50% of all show revenues. He made just about $48 million in his peak year of 2005. Donald received $197.3 million in Apprentice profits from NBC between 2000 and 2018.
He then parlayed his newfound fame from “The Apprentice” into an additional $230 million worth of endorsement and licensing deals.
As President, Donald was entitled to an annual salary of $400,000. Every year while in office he donated all but $1 of that salary to charity. As an ex-President he will earn a $211,000 annual pension. Ex-Presidents also receive up to $1 million per year in travel expense reimbursements, Secret Service for life, $150,000 for staff expenses and an office space reimbursement. Bill Clinton’s annual office space reimbursement costs US taxpayers north of $500,000 per year.
Donald John Trump was born on June 14, 1946, the son of millionaire low-income real estate tycoon Fred Trump. Fred Trump and Donald’s grandmother Elizabeth started out in home construction and sales. The company, which was incorporated as Elizabeth Trump & Son in 1927, build large swaths of single-family homes in Queens. The company grew to own and manage more than 27,000 rental units along the East Coast, primarily in New York City’s neighboring boroughs.
Donald briefly attended the Kew-Forest School in Forest Hills, but at 13 was sent to the New York Military Academy. For college he attended Fordham University and The Wharton School of Finance at the University of Pennsylvania, where he graduated in 1968 with a degree in economics.
After graduating from college, Donald returned to New York where he went to work for his father’s company which would later be known as The Trump Organization. In the 1970s the Trumps earned a fortune owning and renting middle and lower-class housing in New York City’s neighboring boroughs like Brooklyn, Staten Island and Queens.
Through shares in his father’s company that were set aside for each child at various ages, Donald Trump was technically a millionaire on paper in 1954 when he was just 8 years old.
In 1976, Fred Trump set up $1 million trust funds for each of his give children and three great-grandchildren. That’s the same as around $5 million in today’s dollars. The trusts paid yearly dividends from profits earned through Elizabeth Trump & Son’s rental income and property sales.
In 1982, Donald and Fred were co-featured on the inaugural Forbes 400 list of the richest Americans, with a combined net worth of $200 million, the same as around $500 million today. After adjusting for inflation, each Trump sibling received around $413 million from Fred Trump through inheritance and dividends by the time he died in 1999.