Liberals Fume As Trump Gets Richer
Democrats and the mainstream media want to call Trump broke so badly, however numbers don’t lie.
Amidst a whirlwind of financial ups and downs and legal entanglements, a notable surge has been observed in the value of one of Donald Trump’s real estate assets, marking a significant turnaround within just a year.
Trump National Doral, a sprawling 800-acre golf resort nestled in Miami, Florida, has seen its estimated worth skyrocket from a modest $42 million to a staggering $149 million over the past year, according to the latest calculations in Forbes’ Billionaires list.
This remarkable increase in valuation is primarily attributed to the exponential rise in profits generated by Trump’s Miami resort, doubling in comparison to the pre-pandemic year of 2019, as highlighted by Forbes. This surge firmly establishes the resort as one of Trump’s flagship assets, alongside his substantial ownership stake of 58 percent in the Truth Social platform.
The surge in value now places the Miami resort in close contention with Trump’s renowned Mar-a-Lago estate, with its net worth surging by an impressive 254 percent from the previous year, as reported by Forbes.
This surge in asset value comes at a pivotal juncture for the former president, particularly amidst mounting legal challenges in New York, alongside the volatile performance of Truth Social.
The recently released 2024 Billionaires list by Forbes positions Trump as the 1,438th-richest individual globally, boasting a net worth of $2.3 billion after accounting for all assets and liabilities. However, his real-time net worth, reflecting market-driven asset valuations such as his stake in Truth Social, propels him to the 505th spot among the world’s wealthiest.
Following a brief absence from the list in 2023, Trump staged a comeback after the public offering of his media endeavor, Trump Media & Technology Group, which spearheads the Truth Social platform.
Trump’s 58 percent stake in the company contributed a substantial $4 billion to his net worth, constituting a significant portion of his asset portfolio, despite Truth Social reporting modest revenue of $4.1 million and substantial losses of $58 million in the past year.
It’s worth noting that Trump’s ability to offload shares of his Truth Social stake is restricted for the next 25 weeks, barring approval from his board of directors, which includes former advisers and his son, Donald Trump Jr.
While the substantial gains in net worth paint a rosy picture, Forbes estimates that Trump faces legal liabilities amounting to $542 million, outweighing recent asset gains such as those seen in Doral.
The past year has seen Trump embroiled in various financial obligations, notably the legal feud with E. Jean Carroll, resulting in a hefty $88.3 million settlement for sexual abuse and defamation claims. Additionally, he owes approximately $460 million to the state of New York over fraud allegations.
Trump’s financial landscape is further complicated by the depreciating values of his 30 percent stake in office buildings located in New York and San Francisco, largely due to the ongoing recovery challenges in downtown areas post-COVID.
Nevertheless, Forbes estimates that the former president still commands a cash reserve of $413 million, experiencing a marginal decrease of $12 million from the previous year.
