How Trump's Fortune Fluctuated Over The Years; Election Win, Twitter Ban, And Now Criminal Charges
Donald Trump’s wealth has been a subject of fascination for many years. He has long claimed to be a billionaire, but the true extent of his fortune is difficult to verify. Trump’s financial situation has fluctuated throughout his career, from his days as a real estate mogul to his presidency and beyond. In this article, we will examine how his wealth has changed over the years.
Real Estate Mogul
Trump began his career in real estate in the 1970s, working with his father, Fred Trump. Together, they built a real estate empire in New York City. By the 1980s, Trump had become a household name, thanks in part to his lavish lifestyle and his role as the face of the Trump Organization.
At the peak of his real estate career in the 1990s, Trump claimed to be worth billions of dollars. He owned a string of high-profile properties, including Trump Tower, the Plaza Hotel, and the Trump Taj Mahal casino in Atlantic City. However, his true net worth was difficult to determine, as much of his wealth was tied up in his real estate holdings.
The Comeback
Despite the setback in Atlantic City, Trump managed to make a comeback in the 1990s. He focused on real estate development once again, completing projects such as the Trump World Tower and the Trump International Hotel and Tower. He also began to diversify his business interests, branching out into areas such as golf courses and television production.
By the early 2000s, Trump’s net worth had grown to an estimated $2 billion, making him one of the wealthiest people in the United States. He also became a well-known television personality, hosting the reality TV show “The Apprentice” from 2004 to 2015.
Bankruptcies
In the late 1990s and early 2000s, Trump’s financial situation took a turn for the worse. He faced a series of setbacks, including a decline in the value of his real estate holdings and a string of failed business ventures. In 1995, he famously declared a personal bankruptcy on the Plaza Hotel, and in 2004, he filed for bankruptcy on his Atlantic City casinos.
During this period, Trump’s net worth reportedly plummeted, and he struggled to pay his bills. Some reports suggest that he was on the verge of personal bankruptcy at one point, and that he had to rely on loans from his father to stay afloat.
"The Apprentice" and Beyond
In 2004, Trump was approached by NBC to host a new reality TV show called “The Apprentice.” The show was a huge hit, and it helped to revitalize Trump’s career. He became a household name once again, and his catchphrase “You’re fired!” became a cultural touchstone.
“The Apprentice” also helped to boost Trump’s finances. According to reports, he earned $213 million from the show over its 14-year run. He also used his newfound fame to launch a range of other business ventures, including a line of clothing, a steakhouse chain, and a fragrance.
By the time Trump announced his candidacy for president in 2015, he claimed to be worth over $10 billion. However, his true net worth was still difficult to determine, as much of his wealth was tied up in his various business ventures.
Presidential Campaign and Presidency
During his presidential campaign, Trump famously refused to release his tax returns, citing an ongoing audit. This refusal sparked speculation about the true extent of his wealth and his financial ties to Russia and other countries.
After his election, Trump faced continued scrutiny over his finances. He faced criticism for refusing to divest from his business interests, which raised concerns about conflicts of interest. He also faced allegations of using his office to enrich himself and his family, such as by promoting his properties and hotels.
In January 2021, after the storming of the U.S. Capitol, Twitter permanently suspended Trump’s account, citing the risk of further incitement of violence. This move had a significant impact on Trump’s finances, as he had relied heavily on Twitter to communicate with his followers and promote his business interests.
Criminal Charges
In 2021, after leaving office, Trump was indicted by a grand jury in New York on charges of tax fraud and other financial crimes. The charges relate to his business dealings and alleged efforts to avoid paying taxes on his income.
The indictment is a significant blow to Trump’s finances and reputation, as he has long portrayed himself as a successful businessman and dealmaker. If convicted, he could face significant fines and even prison time, which would further impact his wealth.
