Here's how Donald Trump's net worth exploded in 2024

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In one year, Donald Trump went from a net worth of $2.5 billion and heavy legal charges, to becoming president-elect and returning to the Forbes ranking of America's richest people, thanks to his majority ownership in parent company Truth Socials, which increased its fortunes. net worth at $6.1 billion.

LITITZ, PENNSYLVANIA – NOVEMBER 03: Republican presidential candidate, former US President Donald… [+] Trump arrives for a campaign rally at Lancaster Airport on November 3, 2024. (Photo by Chip Somodevilla/Getty Images)

Getty Images Timeline

January 2024 At the start of this year, Trump's net worth stood at approximately $2.5 billion, a figure determined by Forbes in September 2023 for the annual Forbes 400 list of the richest Americans; this figure declined from his previous term, when his net worth reached $4 billion, although his net worth was less volatile before he became a public company owner.

March 26, 2024 Trump's net worth quickly rose to $6.4 billion a day after Truth Socials' parent company went public, rising from $2.3 billion after his legal judgments weighed down its value net between January and March. His net worth increased from $2.5 billion after his legal charges added to his net worth between January and March. Stocks listed with the ticker DJT jumped after the close of the reverse merger between special purpose acquisition company Digital World Acquisition Corp and Trump Media & Technology Group (TMTG), which was approved after months of delays.

March 27, 2024 Two days after going public, Trump hit a net worth of $7 billion as enthusiasm for the company continued.

April 16, 2024 Trump's net worth, at $3.67 billion, hit one of the lowest points of the year on April 16, as TMTG's stock price hit its lowest level after a multi-day decline, but the stock began to rise by the end of the month, pushing Trump's net worth to $7.6 billion by April 30 as he expanded his stake.

May 09, 2024 For the second time in a year, Trump's net worth doubled to more than $8.1 billion, the highest ever, with his net worth remaining above $5 billion throughout the month and reaching $8 billion again on the 14th. Coincidentally, on the same day, a jury found that Trump had abused Elle magazine writer E. Jean Carroll and awarded her $5 million in damages And interests. Days earlier, adult film star Stormy Daniels testified at a secret trial against Trump in which he was later convicted.

May 31, 2024 Trump's net worth plummeted from about $300 million to $7.5 billion the day after a jury decided he was guilty of all 34 criminal charges for falsifying business records during his silent criminal trial which dates back to 2023.

July 15, 2024An assassination attempt on Trump at a rally in Butler, Pennsylvania on July 14 was followed by a surge in TMTG, increasing his net worth by over $1 billion to 6 .1 billion dollars.

September 13, 2024, Trump announced that he would not sell his shares in TMTG, because the lock-up period that prevented him from selling had almost expired. His net worth increased by about $200 million to $3.9 billion when he told reporters, “I'm not selling. No, I love it. The rebound came days after his net worth fell following his debate against Vice President Kamala Harris, and stocks remained depressed throughout the month, hitting some of the lowest points of the year.

October 1, 2024 A twist of fate for the 78-year-old billionaire: Trump's months holding TMTG put him back on the 2024 Forbes 400 list, where he ranked 319th with a net worth of $4.3 billion dollars after being removed from the list. in 2021 for the first time in 25 years.

October 29, 2024 In the biggest spike of the year, Trump's net worth peaked for the third time at $8 billion after several weeks of TMTG rallying as the odds of betting on a Trump election victory increased .

On November 6, 2024, Trump's election victory brought his net worth to $6.2 billion the day after his victory was announced and his net worth remained consistently around $5.1 billion and above throughout. throughout the month.

December 6, 2024 While Trump spent his first month as president-elect focusing on the transition, his net worth rose to $6 billion on December 9 and has remained there or above, reaching $6.51 billion. dollars on December 16 and changed slightly on December 20 when it was transferred. his entire interest in a trust.

What assets does Donald Trump own?

As of December 23, Trump's asset portfolio was worth $6.1 billion, making him the 530th richest person in the world. His wealth is largely linked to the value of TMTG. His 60% stake in Fluctuating Stock makes him the largest shareholder and accounts for more than half of his net worth. He also owns skyscrapers, penthouses, apartment buildings, houses, hotels and golf courses worth approximately $1.1 billion worldwide. Additionally, he owns a licensing business and sells various products, like Trump-themed NFTs, sneakers, Chinese-made Bibles, guitars, cologne, and watches.

How much does Trump spend each year?

Trump spent about $130 million on average per year between 2010 and 2019, Forbes reported, accessing bank records first disclosed in December during Trump's civil fraud trial. This decade also saw several major purchases, such as the customized Boeing 757 that would become Trump Force One, major properties and refits.

How much did Trump make as president?

Trump has made more money as a sitting president than any previous president, Forbes reported. Its assortment of businesses generated some $2.4 billion in revenue and some $550 million in revenue from 2017 to 2020.

See how much the Trump 2024 campaign raised?

The Trump campaign committee raised some $388 million between January 2023 and October 2024, leaving it with about $36 million in cash on hand. Trump-affiliated PACs raised $1.1 billion. Forbes reported that Trump did not spend his own money on the campaign. In fact, several of his businesses, like his plane, were hired by the campaign as he traveled across America.

Tangent

New York Attorney General Letitia James said in December that Trump would not be released from the $454 million, plus interest, ordered in the February judgment in his civil fraud trial. This payment is the judgment against Trump for intentionally approving financial documents that exaggerated the value of his assets in order to generate better business opportunities. Separately, sentencing was postponed for Trump's 34 convictions during his secret trial after he became president-elect. Trump wants his conviction overturned, while prosecutors want to delay sentencing until the end of his presidential term. His three other pending lawsuits have also been largely dissolved, including the federal indictment against Trump for trying to overturn the 2020 election, the federal case over charges alleging Trump stored documents classified in his Florida home, and the suspended case involving criminal charges in Georgia for allegedly interfering with the results of the 2020 election.

How much does Trump owe?

Trump owes more than $1.5 billion in liabilities. He has loans on more than 10 properties, including an office in New York where his $118 million is a few million dollars higher than the property's value. He also owes more than $480 million, plus interest, from the New York civil fraud trial and Carroll's potential $92 million from his two sanctions. Trump posted bonds this year in his payments for Carroll, with him owing $91.6 million for one penalty and $5.5 million for the other.

Key context

Truth Social's reverse merger turned out to be one of his defining achievements: He is the only American politician to derive such significant wealth from his political status and career, as Forbes reported in September. But things aren't all rosy for Trump. TMTG is widely considered a meme stock, or a stock that has no value due to its products but is fueled by internet hype. It recorded a net loss of $380 million in one year. In November, it reported a net loss of $19 million. And the stock price clearly reacts to Trump's presence in the media and on the Internet, and this can be seen as the volatile stock price corresponding repeatedly throughout the year to match his positioning during the election. As Forbes reported in September, the company's financial situation is absurd.

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