The former president’s net worth has grown by $500 million since 2021, calculations show
Former US President Donald Trump saw his wealth skyrocket after he left the White House, according to Bloomberg’s Billionaires Index.
According to the data, Trump’s net worth is currently $3.1 billion, up roughly $500 million since 2021, when his wealth was estimated at $2.6 billion.
Bloomberg made the calculations based on documents detailing the performance of Trump’s assets made available amid his ongoing trial in New York. The former president, along with his companies and sons, are accused of fraudulently inflating the value of their assets for over a decade to secure favorable loans from banks, as well as insurance deals.
Trump testified in the case on Monday, claiming the assets in question were in fact undervalued and saying that banks hardly considered his statements on financial conditions when issuing loans.
“They just weren’t a very important element in banks’ decision-making process. And we’ll explain that as this trial goes along,” Trump stated.
As for the state of Trump’s finances, his son, Eric Trump, who is also an executive vice president of the Trump Organization, recently said that “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,” he added.
Trump’s most valuable properties, where fraud allegedly occurred, include the Mar-a-Lago Club, a historic Palm Beach estate built in the 1920s; his penthouse apartment at Trump Tower on New York’s Fifth Avenue; Trump Park Avenue, a residential condo tower in Manhattan; and the 40 Wall Street Trump Building office tower.
For more stories on economy & finance visit RT’s business section
November 08, 2023 at 04:32PM