Donald Trump: What is the former President's net worth?
The former president could face significant financial losses as his legal woes put his empire in jeopardy.
The definitive net worth of Donald Trump has become the subject of worldwide interest since it transpired the former president has significantly exaggerated his assets.
Mr. Trump's empire finds itself in jeopardy as the Republican Presidential candidate faces yet a multi-million civil suit over financial affairs.
The ex-president may have overstated his net worth by a staggering $3.6bn, lawyers for New York Attorney General Letitia James alleged in court filings.
James declared at the time that she was making “a conservative estimate” about how much Trump's net worth was overstated, bringing the case against Trump to determine how much he and his family business owner in penalties after they inflated their assets to secure more favorable loans.
The New York Attorney General is seeking up to $250 million and pushing for Trump and his sons to face disqualification over running businesses in New York.
The Democrat's office said in legal documents: “Mr. Trump’s net worth in any year between 2011 and 2021 would be no more than $2.6 billion, rather than the stated net worth of up to $6.1bn, and likely considerably less if his properties were actually valued in full-blown professional appraisals.”
The Forbes Estimates from March 2023 put the former president’s wealth at $2.5 billion.
The comprehensive Tally attributes this large sum to, $720 million in NYC real estate, $730 million in Golf Clubs and Resorts, $610 million in cash and personal assets, and $240million in social media and brand business.
The asset-by-asset breakdown confirms that the former president’s fortune was far smaller than he had previously boasted.
It is believed Mr. Trump may have deployed this move in a bid to deceive banks and insurers, with Judge Arthur Engoron writing in a court filing: “Even in the world of high finance, this Court cannot endorse a proposition that finds a misstatement of at least $812 million to be ‘immaterial’.”
The filing states that corrections to financial statements could reduce Trump’s stated net worth by “17 percent to 39 percent in each year”.
