How Rich are the Children of Donald Trump?
They aren’t eager to tell, contrary to their boastful leader. Their earnings are not open to the public, and their assets are related to private investments and protected by anonymous shell companies.
Also the federally required form of financial disclosure of Ivanka Trump, with its wide gaps and wide ranges, is of minimal assistance.
And Forbes looked into real estate records, court papers and official filings to reveal as many of the financial activities of the first family as possible.
Donald Trump Jr. and Eric Trump appear both worth about $25 million.
Ivanka Trump has undoubtedly accumulated comparable wealth from her job at Trump
Organization but is worth even more around $375 million
when you’re factoring in her fashion line earnings and marriage to Jared Kushner’s real estate heir.
Meanwhile, the 26-year-old daughter of the president, Tiffany, and 13-year-old son, Barron, do not seem to have had much of their father up to now.
Nor does the first lady have 33 floors below the pair’s golden penthouse, worth $1.5 million, besides a tiny Trump Tower apartment.
Unlike most wealthiest heirs, by cautious transactions over time, the Trump children have not gained their money from trust funds or acquired pieces of family business.
But they own practically none of the large assets of the Trump Organization.
The only big enterprise in which the president has involved his family tends to be the Trump International Hotel in Washington, D.C.,
where each of his three youngest children — Don Jr., Ivanka, and Eric — owned a 7.5 per cent interest worth around $6 million a piece.
Rather, much of their money appears to have come from the strong salaries they have received at the Trump Organization as long-time executives.
Their dad is paying well. According to a Forbes review of Donald and Ivanka Trump’s financial statements, the three spouses have received pre-tax wages, fees and bonuses of an estimated $35 million each in the last two decades.
They used those earnings to develop their own investments, buy splashy real estate and start up their own business ventures — with varying degrees of success.
Ivanka Trump Worth
Ivanka Trump, the most entrepreneurial child, spent years burning down her father’s brand while building one of her own.
She scouted deals around the globe as an executive vice president at Trump Organization and heading up interior
design for Trump hotels, gaining around $25 million in wealth from her day job.
She probably gained the same income from her lucrative side hustles. Next was a line of jewelry signed with Ivanka Trump, launched in 2007.
Then came shoes, handbags and other accessories. The organization was making about $75 million in revenue by 2013, according to a study of internal documents by the New York Times.
A big line of women’s work wear soon followed, rapidly reaching sales of $100 million.
According to industry analysts, Ivanka, whose company licensed her name to outside suppliers, possibly had about 7 per cent reduction in wholesale revenue from her products, which is usually about half of retail profits.
That means that at the height of the success of her brand, her fashion-line profits may have top $10 million per year, before taxes and expenses.
Well, the good times didn’t last. Hit by her father’s divisive policy, sales reportedly plummeted, and in July 2018, she
announced that she had shut down the entire operation, making it virtually worthless. “After 17 months in
Washington, I don’t know when or if I’m ever going to go back to business,” she said at the time.
Don’t worry, her husband, Jared Kushner’s real estate heir, is her biggest source of wealth.
The couple’s financial disclosure forms, which list their assets together, match their net worth between $52 million and $759 million
nearly all of them in Kushner-related holdings.
The document privately submitted by the President’s son-in-law to a potential lender, later obtained by the New York Times, narrows the scope considerably.
It shows that Kushner’s net worth was about $324 million at
the beginning of 2017, putting the combined value of the couple at $375 million.
Much of their wealth remains tied up in the commercial buildings and rental apartments of Kushner Cos, plus cash
accounts and an index and mutual funds portfolio.
Despite coming from two real estate dynasties, the couple has little personal real estate of their own.
Ivanka still has a two-bedroom “starter” apartment on the sixth floor of the Trump Park Avenue building that her father developed, worth about $3 million.
But for years she and Kushner were actually living on the
28th floor of the building, in a penthouse owned by Donald Trump. Their vacation home, the Trump National Bedminster Golf Club cottage, is also owned by the president.
The couple rents their current residence, Washington, D.C., a six-bedroom mansion, from a Chilean mining heir.
Donald Trump Jr Net Worth
the first child to enter the family business, spent a career working for his father and putting his salary into a
business of his own, with a mixed record to show for it.
Also, the Executive Vice President of the Trump Organization, Donald Trump Jr (Net Worth)
who helped manage the company’s portfolio of assets before he and Eric were in charge of all operations while their
father was in office is likely to be paid in the same way as his sister.
It’s given him a cuddly lifestyle. Donald Trump Jr Net Worth owns a 5,900-square-foot apartment in the Midtown Manhattan Luxury Tower
and the upstate New York cabin, home to the well-known outdoor fisherman in the Delaware River.
He also appears to have a share of 171 acres of upstate New York hunting reserve alongside Eric. Donald Trump Jr Net Worth and his
girlfriend Kimberly Guilfoyle made headlines in April when they snapped up the $4.5 million, seven-bedroom Hamptons mansion.
Like Ivanka, Donald Trump Jr Net Worth has tried to move away from his father’s real estate business.
A document filed with the City of New York links Donald Trump Jr Net Worth to a half-dozen out – of-country investments, with cryptic names
such as MSMDF Agriculture LLC (which holds a stake in a
hydroponic lettuce company) and Future Venture LLC (which Trump Organization said was set up to pursue technology investments).
The companies were linked to Dallas-based money manager Gentry Beach, a long-time friend of Don Jr. and Trump’s fundraiser.
The president’s son has reportedly lost $200,000 to invest in a dry Texas oil well with Beach.
But the best known ventures of Don Jr. were in Charleston, South Carolina.
He was one of the group of investors who bought a $5
million old Navy hospital in the city, with a plan to renovate it and lease some of it back to the county.
After the renovations were dragging on and the government pulled out, the developers filed for bankruptcy and sued the county. The parties settled in 2017 and the county bought the property for $33 million.
It is not clear whether Don Jr., who told Charleston’s Post
and Courier that he was a passive 10 per cent investor “without voting rights or control,” benefited from the deal.
Then there was a non-descript, rusting warehouse in the North Charleston Industrial Park. Don Jr. and a group of
investors bought the site as part of a prefab concrete business that they hoped would revolutionize low-cost home building.
The venture never took off, leaving Don Jr. and two others
on the hook for a $3.65 million Deutsche Bank loan that they had personally secured. Days before the loan was due, his father stepped in.
Donald Trump bought the debt, then foreclosed on the property, bailing out his son in the process.
The President quietly sold the building, which had a history
of roof leakage and environmental contamination, for $4.1 million in February 2018.
Eric Trump Worth
The youngest of the three siblings of the President’s first
marriage, Eric Trump’s finances appear to be the most closely linked to Donald Trump.
He lives in a penthouse on the edge of Central Park, spanning four units two bought at a suspiciously steep
discount in his father’s Trump Parc East building.
He keeps a luxury duplex on the grounds of the Trump National Golf Club in Westchester County, New York.
And his pay as Executive Vice President of the Trump Organization where he oversaw a large part of the firm’s
golf club and resort business before he co-operated with Don Jr . seems to be his only major source of wealth.
New York City’s filing seems to tie Eric to just two ongoing businesses: his stake in Trump’s D.C.
The Trump Winery Hotel in Charlottesville, Virginia. Eric Trump seems to have a complex arrangement with his father.
Eric serves as president of the winery.
Its website is maintained by Eric Trump Wine
Manufacturing LLC, and Eric Trump’s related companies appear to be operating on a daily basis.
Yet Albemarle County’s land records and the President’s
financial disclosure form make it clear that his father actually owns the property.
The Trumps have been using convoluted, inter-family arrangements for decades. According to the New York Times investigation,
Fred Trump used a handful of methods essentially turning his heirs into his property managers, landlords, bankers,
and consultants to transfer wealth to his children while taxing. Donald Trump might be following the suit.
In addition to the winery deal, Ivanka’s disclosure lists a
handful of stakes in ventures that shift money from Donald Trump’s empire to family members.
Through T International Realty LLC, Ivanka is entitled to commissions from the sale of condos owned by her father.
Through entities such as TTT Consulting LLC and DT Bali Technical Services Manager LLC, Ivanka is entitled to
consult and manage property fees managed by her father’s companies making her a consultant on the Trump Organization’s own deals.
Ownership structures of the ventures indicate that her brothers have similar interests.
They don’t seem to have thrown away major cash yet, according to financial disclosure forms, but they could
provide a way for the president to transfer significant wealth to his children.
(Ivanka converted her income stream from these ventures into fixed annuities for the duration of her tenure in
government, in an effort to avoid conflict-of-interest concerns.)
In addition to these deals, Forbes found no evidence that Donald Trump,
who spent three decades looking under each couch cushion for assets to show Forbes on our two-year billionaire lists,
had handed over a large amount of money to his children.
The President’s parents, Fred and Mary Trump, appear to
have made only minor legacies to their grandchildren, according to documents filed by their estates.
Yet the lack of detailed financial records, including Trump’s
family tax returns, makes it difficult to fully track how much wealth the president’s children have lost.
If they have borrowed heavily or invested exceptionally poorly, they could be less well off than we estimate.
If they have large and well-hidden business ventures, they could be richer than we can imagine.
They’re not in a hurry to speak up, however.
Donald Trump personally fought harder than anyone for a higher ranking spot. “Share wealth is estimated at over $200 million,”
“Donald claims $500 million.”
In 1985, he invented a fake person to lie about his father’s
transfer of wealth, successfully securing a single spot on the list.
Three decades later, his children are about the age he was back then.
But instead of announcing a financial coming-out of their
own, they are taking a decidedly less Trumpian approach: they’re not commenting.