Donald Trump may have joined the ranks of America’s richest people thanks to his real estate holdings, from golf courses to hotels, but it’s his stake in the newly formed Trump Media & Technology Group that has more than doubled his net worth to reach $5.5 billion this year.
The loss-making social media company, which trades under the ticker symbol DJT, the same as Trump’s initials, has had a volatile year since going public in March. An initial surge in Trump Media’s market value in March was worth the value of the former president’s 57% stake. $5.2 billionbut that amount fell to $1.4 billion when the stock hit a low of $11.75 in September.
The wild swings in Trump Media’s shares have prompted comparisons of them to meme stocks, or companies that trade on social media buzz rather than revenue or profit growth, investors’ preferred criteria. Trump Media, whose main asset is the Truth Social platform, has drop in revenue and significant losseswith Jay Ritter, a finance professor at the University of Florida, telling CBS MoneyWatch that “the stock is incredibly overvalued.”
Despite this, Trump’s wealth eclipses that of his rival, Vice President Kamala Harris, who along with her husband, Douglas Emhoff, is worth around $8 millionaccording to an estimate from Forbes. Harris’ wealth comes from his decades of public service, book royalties and investments.
Here’s what you need to know about Trump’s wealth.
Trump’s DJT actions
Despite fluctuations in DJT stock, Trump’s stake in the social network has helped boost his overall net worth to $5.5 billion, more than double his wealth of $2.4 billion as of early 2024. according to Forbes.
His stake in DJT stock, worth about $3.5 billion based on the November 1 closing price, remains his largest financial asset. That’s down from $5.9 billion when shares hit a recent high of $51.51 on Oct. 29. Since then, DJT stock has lost half its value.
Because Trump swore not to sell no DJT shares, its stock market wealth remains for the moment largely on paper.
Where does Trump’s wealth come from?
Despite his billions in DJT stock, Trump’s initial fortune came from real estate, ranging from residential buildings in New York to golf courses and hotels around the world.
Trump got his start working for his father, Fred Trump, a New York real estate developer who built more than 27,000 apartments and townhouses in Queens and Brooklyn, according to the New York Times. Trump claims his father’s $1 million loan helped him build his own business, which now includes holdings such as the Mar-a-Lago club in Florida and Trump Tower in Manhattan.
One of his biggest assets is his $500 million stake in 1290 Avenue of the Americas, an office building in Manhattan, while his Trump National Doral Miami Golf Resort is worth about $300 million, according to Bloomberg News .
Trump’s earnings from crypto, NFTs and Bibles
Trump also received a financial boost from digital assets including cryptocurrencies and non-fungible tokens, or NFTs, an August financial disclosure form shows. The former president also makes money by putting his name on a variety of items, from Bibles to sneakers.
Trump revealed he made $7.2 million in an NFT licensing deal, while he also locked up to $5 million in an “Ethereum virtual key.”
A $59.99 that Trump endorsed in partnership with singer Lee Greenwood earned him $300,000 in royalties, while he set aside $4.5 million for “Letters to Trump,” a 2023 collection of letters sent to Trump over the years by celebrities such as Oprah Winfrey.
Financial disclosure forms also show that Trump continues to earn money from the reality show “The Apprentice” and his 1987 book “The Art of the Deal.” He receives a Screen Actors Guild pension of more than $90,000 a year.
Despite investments in crypto and NFTs, Trump’s investments are largely held in stocks, index funds and bonds, including U.S. Treasuries, according to the form. He also owns at least $100,000 worth of gold bars.
Trump’s liabilities
The disclosure forms, which are required of all presidential candidates, outlined debts, including several mortgages on Trump Tower and other properties, as well as new debts related to court judgments.
Trump is appealing three judgments against him for more than half a billion dollars. They include a total of $88.3 million from two cases in which juries found him liable for sexual abuse and defamation of writer E. Jean Carroll, as well as a state case in New York in which a judge ruled that Trump owed more than $450 million, including interest, for a fraudulent scheme. Trump has promised millions to cover liabilities in these cases.
