Donald Trump Reveals His Personal Finances ?
I watched part of the Republican debate earlier this month. Some Americans warn that if Donald Trump becomes the next President then there will be Hell toupée. ? But he also has a lot of dedicated supporters. He’s quite a polarizing political figure. But what’s even bigger than his brash character and bold hairstyle is his impressive portfolio of material wealth. 🙂
His net worth is not clear as it’s difficult to put an exact value on such intangibles like his brand. Many sources say he is worth about $4.5 billion while Trump himself claims he is worth about $8.7 billion. As a presidential candidate Trump is required by law to disclose his finances to the Federal Election Commission. This opens up his personal finances for the whole world to see. It’s a great opportunity for us to study what makes him so successful in business and how we can possibly do the same. Trump’s financial disclosure documents reveal that over the last 18 months he’s made at least $380 million. This means Donald Trump makes about $250 million a year. Wow! It must be hard for anyone to Trump that kind of income. 😛
If he does somehow over-comb the controversies and become the next U.S. president, I expect he would want to make some changes to the White House. 😉
? Types of Incomes ⛳
Surprisingly only $14,000 of his $380 million income is from a salary, lol. This goes to show that the rich are very tax efficient. Salary and wages are the highest taxed income sources one can earn in both Canada and the U.S. Most of Trump’s income comes from his business and investments. He owns the Trump Tower Chicago, the Trump National Golf Club in N.J. and the Mar-A-Lago resort in Palm Beach, Fla, among many other properties. Roughly half of his income, about $200 million during the 18 month filing period, came from golf courses and resorts. He also earned at least $10 million in royalties for licensing his brand to not only luxury hotels, but also to vodka makers and energy drinks companies.
He also made $15 million from his liquid portfolio of mutual funds, stocks, and hedge funds. Despite having a pompous and flamboyant personality, Trump’s stock picks are reasonably traditional, holding large-cap, Fortune 500 companies such as Apple, and Kinder Morgan. 🙂 It’s also a good thing he married someone who’s business oriented like himself. Trump’s wife, Melania, earned at least $105,000 from brands that license her name, which includes skin-care and fashion products. If Donald ever runs out of money he can always rely on his wife to bring home the six-figure income, lol. Finally, as a producer of shows like “The Apprentice” and a member of the Screen Actors Guild, Trump receives an annual pension of more than $110,000, according to CNBC.
Lessons Learned
I think we can learn a few things from Donald Trump on how to become financially successful.
- Own stuff – According to CNBC, Trump holds a position in at least 515 organizations, almost 400 of which bear his name or his initials.
- Diversify your income – Trump has a ton of income sources including pensions, dividends, interests, rents, and royalties. So if one doesn’t work out he has many others to fall back on.
- Create a brand – People will come to you if you have a brand worth value. Trump not only licenses his brand for millions of dollars in royalties but he also charges $250,000 to give a public speech. It’s a dream come true for someone who enjoys hearing himself talk, haha.
————————————————————————-
Random Useless Fact
This exists in Denmark. It’s a Danish ice cream cone.
Nice summary of Trump. Maybe as his next source of income he should create Unit shares of himself which pay dividends based on his income, and charge a ‘management’ fee. The more people buy them, the more he makes and the more he pays out 😛
Good idea. This is how the rich keep getting richer. 🙂
Love that pic of the White House tower! Hilarious!! I always like to have an the inside look to one’s finances. But rich is too much far fetch for me to reach, so I rather much see the average person’s finance instead. What is attainable to me?
I like to examine people’s finances too, especially the median income and net worth of my cohort. It gives me a good idea of how I’m holding up against people my age living in the same city. If I ever fall behind I know I’ll need to save more or earn more income.