by Donald Trump may have joined the ranks of America’s richest people through his real estate holdings, from golf courses to hotels, but it’s his stake in the fledgling Trump Media & Technology Group that more than doubled his net worth this year to $5.5 billion.
The money-losing 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 made the former president’s 57% stake worth it $5.2 billionbut that dropped to $1.4 billion when shares hit a low of $11.75 in September.
The wild swings in Trump Media’s stock have prompted comparisons to meme stocks, or companies that trade on social media, rather than sales or profit growth, investors’ preferred metric. Trump Media, whose main asset is the Truth Social platform, has done so declining revenues and large losseswith University of Florida finance professor Jay Ritter telling CBS MoneyWatch that “the stocks are incredibly overvalued.”
Yet Trump’s wealth pales in comparison to that of his rival, Vice President Kamala Harris, who, along with her husband, Douglas Emhoff, worth approximately $8 millionaccording to an estimate by Forbes. Harris’ wealth comes from her decades in public service, book royalties and investments.
Here’s what you need to know about Trump’s wealth.
Trump’s DJT stock
Despite the rollercoaster in DJT stock, Trump’s stake in the social network has helped boost his total net worth to $5.5 billion, which is more than double his $2.4 billion in wealth at the start of 2024, according to Forbes.
His stake in DJT stock, worth about $3.5 billion based on the Nov. 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 promised it don’t sell Whatever DJT stock, its stock market wealth remains largely on paper for now.
Where does Trump’s wealth come from?
Despite his billions in DJT stock, Trump’s original fortune comes from real estate, from residential buildings in New York City to golf courses and hotels around the world.
Trump began working for his father, Fred Trump, a New York City real estate developer who built more than 27,000 apartments and townhomes 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 companies such as the Mar-a-Lago club in Florida and Trump Tower in Manhattan.
One of his largest 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 income from crypto, NFTs and Bibles
Trump has 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 licensing his name on a variety of items ranging from Bibles to sneakers.
Trump revealed that he made $7.2 million from an NFT licensing deal, while he also has a whopping $5 million tied up in a “virtual Ethereum key.”
A $59.99 Bible which Trump co-endorsed with singer Lee Greenwood earned him $300,000 in royalties, while he posted $4.5 million for “Letters to Trump,” a collection of 2023 letters sent to Trump over the years by celebrities like Oprah Winfrey.
The financial disclosure forms also show that Trump continues to make 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 the investments in crypto and NFTs, Trump’s investments are largely held in stocks, index funds and bonds, including U.S. government bonds, according to the form. He also owns at least $100,000 worth of gold bars.
Trump’s obligations
The disclosure forms, which are required for all presidential candidates, outlined liabilities including several mortgages on Trump Tower and other properties, as well as newer debts related to legal judgments.
Trump is appealing against three judgments against him worth more than half a billion dollars. This includes 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 case in New York state in which a judge found Trump owed more than $450 million is. interest, for a fraud scheme. Trump has pledged millions to cover bonds in those cases.
