The 45th President of the United States of America will learn the hard way that politics and finances do not mix. Indeed, according to the 2021 ranking of Forbes magazine concerning the first 400 American billionaires, Donald Trump slipped from 275 th place in 2019 to 339 th in 2020, losing 64 steps in one year. However, the radical Republican is not on the straw, with a fortune estimated at 2.5 billion dollars that he is sure to start rising again once his political and legal woes are over.
Trump was born into a wealthy family and inherited approximately $ 40 million from his late father, real estate developer Fred Trump. In 1971, Donald Trump took the helm of what would later be known as the Trump Organization. Trump’s earnings and title have since helped him grow more than 500 businesses. The business mogul has his stakes in luxury golf courses, skyscrapers, TV shows, casinos, books and, lately, politics. The wealth of Joe Biden’s predecessor is to be deduced from massive indebtedness.
In fact, Donald Trump’s loans and other personal debts reach $ 421 million, according to the New York Times, which also mentions a home loan of $ 100 million to be repaid before 2022. In a survey published on October 29, the Financial Times mentioned, him, 1.1 billion cumulative debts, including those of his conglomerate. According to the financial review, Donald Trump has four years to repay $ 900 million. The announced departure of Deutsche Bank, a longtime bank of the Trump Organization, could complicate matters: the German bank is claiming around $ 340 million by 2024.
