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 has more than doubled his net worth to $5.5 billion this year.
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 the market value of Trump Media in March made the former president’s 57% stake worth $5.2 billion, but that tumbled to $1.4 billion when the stock hit a low of $11.75 in September.
The wild swings in Trump Media shares has prompted comparisons to meme stocks, or companies that trade on social media buzz rather than revenue or profit growth, investors’ favored yardsticks. Trump Media, whose main asset is the Truth Social platform, has declining revenue and large losses, with University of Florida finance professor Jay Ritter telling CBS MoneyWatch that the “stock is incredibly overvalued.
Even so, Trump’s wealth dwarfs that of his rival, Vice President Kamala Harris, who with her husband, Douglas Emhoff, is worth about $8 million, according to an estimate by Forbes. Harris’ wealth stems from her decades in public service, book royalties and investments.
Here’s what to know about Trump’s wealth.
Trump’s DJT shares
Despite the roller coast in DJT shares, Trump’s stake in the social network has helped lift his overall net worth to $5.5 billion, more than double his $2.4 billion in wealth at the start of 2024, according to Forbes.
His stake in DJT shares, worth about $3.5 billion based on its November 1 closing price, remains his single largest financial asset. That’s down from $5.9 billion when the shares touched a recent high of $51.51 on October 29. Since then, DJT stock has shed half its value.
Because Trump has vowed not to sell any DJT shares, his stock market wealth for now remains largely on paper.
Where does Trump’s wealth come from?
Despite his billions in DJT stock, Trump’s original fortune stems from real estate, spanning residential buildings in New York City to golf courses and hotels around the globe.
Trump got his start working for his father, Fred Trump, a New York City real estate developer who built more than 27,000 apartments and row houses in Queens and Brooklyn, according to the New York Times. Trump claims his dad’s loan of $1 million helped him build his own business, which now includes holdings such as the Mar-a-Lago club in Florida and the 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 earnings from crypto, NFTs and Bibles
Trump also has received a financial boost from digital assets including cryptocurrencies and non-fungible tokens, or NFTs, an August financial disclosure form shows. The former president is also making money from licensing his name to a variety of objects, ranging from Bibles to sneakers.
Trump disclosed he earned $7.2 million in a NFT licensing deal, while he also has as much as $5 million locked up in a “virtual ethereum key.
A $59.99 Bible that Trump endorsed in partnership with singer Lee Greenwood earned him $300,000 in royalties, while he booked $4.5 million for “Letters to Trump,” a 2023 collection of letters sent to Trump over the years from celebrities such as Oprah Winfrey.
The financial disclosure forms also show that Trump continues to earn money from the reality show “The Apprentice” and his 1987 book “The Art of the Deal.” He receives a pension from the Screen Actors Guild of more than $90,000 annually.
Despite the investments in crypto and NFTs, Trump’s investments are largely held in stocks, index funds and bonds, including U.S. Treasuries, according to the form. He also owns at least $100,000 in gold bars.
Trump’s liabilities
The disclosure forms, which are required of 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 a trio of judgments against him for more than half a billion dollars. They include a combined $88.3 million from two cases in which juries found him liable for sexual abuse and defamation of the writer E. Jean Carroll, as well as a New York State case in which a judge ruled that Trump owes more than $450 million, including interest, for a fraud scheme. Trump has pledged millions in covering bonds in those cases.
