Factbox: What's Trump worth? A look at his assets and income

Vornado Realty Trust

25/03/2024 05:00

NEW YORK, March 25 (Reuters) - Former U.S. President
Donald Trump faces a Monday deadline to post a bond covering a
$454 million civil judgment against him in a New York state
case, after a judge found he had overstated the value of his
assets. 
    His lawyers have told the court it is impossible for him to
raise that much money. In a Friday post on Truth Social, his
social media platform, Trump said he had done nothing wrong.
Failure to post the bond could lead to New York Attorney General
Letitia James seizing his assets.
    Trump's lawyers did not respond to requests for a comment.
    Below is a breakdown of some of Trump’s assets and sources
of income, based on court filings and federal financial
disclosures. In some cases the values reported by Trump were
disputed in the New York civil case, which the real estate
billionaire plans to appeal.

    CASH
    Trump said in the Truth Social post on Friday that he has
“almost five hundred million dollars in cash.” In an April 2023
deposition with New York Attorney General Letitia James he said
he had “substantially in excess of 400 million in cash.” 
    That number has gone up from Trump’s previous disclosures. A
June 30 2021 statement of financial condition that Trump
submitted to the court showed that he had $293.8 million worth
of cash and cash equivalents at the time. 
    Trump has a variety of sources of income, financial
disclosure forms filed with the federal government in August
2023 show. 
    In 2022, Trump reported at least $537 million in revenues
related to golf courses and hotels, $30.4 million in licensing
fees and royalties, $26.5 million of management fees, and $61.1
million in distributions from his stake in buildings such as
1290 Avenue of the Americas in New York. 
    Trump also made $6.2 million from speaking engagements and
$116,103 in pension from the Screen Actors Guild and the
American Federation of Television and Radio Artists. In
addition, he reported $268.7 million proceeds from his
Washington DC hotel, including a gain on the sale of the
property, and nearly $1 million from the sale of two
helicopters.

    PROPERTIES 
    Trump owns hotels, office buildings, residential buildings,
golf courses and estates. A June 2021 financial statement listed
several of his most valuable properties such as 40 Wall Street,
an office building in New York, the Trump Tower in Manhattan,
and the Mar-a-Lago resort in Palm Beach, Florida. The financial
statement said his properties were worth $4.3 billion at the
time, while Trump owed a total of $439.2 million in loans and
other liabilities. It said his net worth was $4.5 billion. 
    Among his major properties, the document said golf clubs and
other club facilities were worth $1.76 billion, New York
buildings such as Trump Tower and Trump Plaza were worth $524.7
million and $33.4 million, and his stakes in two buildings
jointly owned with Vornado were worth $645.6 million.
    In the New York case, the judge ruled Trump had overstated
the value of some of those properties over the years, including
inflating the value of 40 Wall Street by $120 million in 2015,
and overstating the value of Seven Springs, a property in New
York’s Westchester county, by $147 million in 2014. The judge
called Trump’s estimated value of Mar-a-Lago “fraudulent” and
wrote it is “possibly a billion dollars or more” over its market
value. 
    
    TRUTH SOCIAL
    Truth Social is worth about $6 billion, based on how shares
in a blank-check acquisition company it is set to merge with are
trading. Trump’s shares in the combined company are currently
worth about $3.6 billion, and the percentage of his stake could
end up between 58.1% and 69.4%. Trump cannot sell his shares or
borrow against them for six months after the merger is
completed.

 (Reporting by Koh Gui Qing, Paritosh Bansal and Greg
Roumeliotis; Editing by David Gregorio)
 ((guiqing.koh@thomsonreuters.com; +1 646 223 6033;))