Billionaire in the White House: How Donald Trump became one of America’s wealthiest

From a loan from his father to a friend’s help after bankruptcy and a TV show that rebuilt his image, Donald Trump’s 78-year journey has been a rollercoaster; his second White House win boosted his wealth to $6.6 billion, cementing his status as a political and business icon

In 2004, the real estate company Trump Hotels and Casino Resorts filed for bankruptcy, reporting $1.8 billion in debt. It was one of six times Donald Trump took advantage of U.S. bankruptcy laws, allowing him to restructure debt and avoid personal financial loss.
His reputation among businesspeople, both large and small, was at its lowest point—until he got a lifeline. His close friend, Mark Burnett, creator of Survivor, designed a reality series for NBC centered around Trump.
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ארה"ב דונלד טראמפ מפגש עם חברי בית הנבחרים ה הרפובליקנים לפני פגישתו עם ג'ו ביידן ב הבית הלבן
ארה"ב דונלד טראמפ מפגש עם חברי בית הנבחרים ה הרפובליקנים לפני פגישתו עם ג'ו ביידן ב הבית הלבן
Donald Trump
(Photo: Allison Robbert/Pool via AP)
The Apprentice wasn’t just a reality show; it was a remake of Donald Trump, a rebuilding of a damaged brand. In a boardroom set constructed in Trump Tower on Fifth Avenue, which was presented as if it had always been there, Trump sat weekly to evaluate candidates vying to be apprentices in one of his businesses. He did this for 14 years, pretending to fire people with authority and decisiveness.
The Apprentice saved Trump in every conceivable way. Most importantly for him, it restored his status as a celebrity and cemented his image as a businessman who succeeded at everything he touched. His six bankruptcies, including one in 2009 at the height of the show’s popularity, faded from public memory.
What no one could have predicted—not even in the wildest scenarios—was that The Apprentice would become the rocket that propelled Trump to the White House, making him a fortune in the process.
Now, 21 years after the first episode of The Apprentice aired, Trump is set to return to the White House on Monday as the 47th president of the United States, completing a comeback so extraordinary that historians might struggle to believe it happened. He will also do so as a much wealthier man than when the first episode aired, even as he faced another bankruptcy during that time.
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מגדל טראמפ
מגדל טראמפ
Trump Tower
(Photo: Shutterstock)
Within Trump’s broader comeback story, 2024 itself was a mini-comeback. In a year when his net worth, according to Forbes, stood at $2.5 billion and he faced major federal and local lawsuits along with staggering legal expenses, Trump managed to secure re-election as president. His net worth soared to $6.6 billion, and he reclaimed a spot on the list of America’s 400 richest people.

Donald Trump in gold letters

Donald Trump hates being reminded that he was born a millionaire and started his career working for his father, Fred Trump, a real estate developer who built over 27,000 apartments in Queens and Brooklyn.
There are various accounts of how much his father gave him to launch his career—Trump claims it was a $1 million loan, while others suggest it was a $4 million grant. Either way, Trump became a billionaire, largely due to his extraordinary understanding of America’s celebrity culture.
He became a fixture at New York parties, building a glittering reputation, and then bought properties, branding them with his name in gold letters, which significantly boosted their value. Beyond Trump Tower on Fifth Avenue, his Mar-a-Lago estate in Florida and golf clubs in New Jersey and Miami, Trump owns, among other properties, a $500 million building on Sixth Avenue in Manhattan.
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However, his presidency opened a new and somewhat uncharted path to wealth. Trump’s largest earnings in the past year came from his majority stake in the media company he founded: Trump Media & Technology Group (TMTG). This company owns the social media platform Truth Social, which Trump launched after being suspended from Twitter and Facebook following the Capitol riots on January 6, 2021.
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דונלד טראמפ ו-Truth Social
דונלד טראמפ ו-Truth Social
Truth Social
(Photo: Shutterstock)
Much has changed in the four years since. Elon Musk and Mark Zuckerberg have reinstated Trump on their platforms and sought his favor, but he continues to post primarily on Truth Social.
In March, TMTG went public, becoming Trump’s first publicly traded company. While Truth Social is not profitable, Trump’s net worth soared overnight to $6.4 billion following the stock’s launch, reaching $7 billion two days later. The frenzy over TMTG’s stock—trading under the symbol DJT (Donald J. Trump)—had little to do with the company’s actual performance. Loyal fans flocked to buy shares.
Later in the year, the stock saw dramatic fluctuations, often aligning with Trump’s political events. After a July assassination attempt in Pennsylvania, the stock surged. When he lost a debate to Kamala Harris, it plummeted. By early October, Forbes reinstated Trump on its list of the 400 richest Americans, ranking him 319th with a net worth of $4.3 billion. Weeks later, as polls showed him with strong chances of winning the election, his net worth peaked at $8 billion.
In addition to TMTG shares, Trump capitalized on his brand wherever possible. Products like the Trump Bible ($59.99), Trump Cologne and Trump Shoes were marketed under his name. A collection titled Letters to Trump, featuring correspondence with celebrities over the years, generated $4.5 million in sales.
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אחד מפריטי ה-NFT של טראמפ
אחד מפריטי ה-NFT של טראמפ
NFT Trump cards
(Photo: AFP)
According to Trump’s financial disclosure released before the election, his businesses generated over $700 million in 2024. His golf clubs in Washington, Miami and New Jersey hosted tournaments for the Saudi-backed LIV Golf series.
Trump also earned $7.2 million this year from NFT deals and holds $5 million in cryptocurrency assets. It remains unclear how much debt he still owes from the hundreds of millions in loans he took out over the years, though it’s safe to assume he isn’t particularly concerned.
In March 2024, during the height of the Israel-Hamas war, Trump’s son-in-law Jared Kushner remarked that "Gaza’s waterfront property could be very valuable." He wasn’t joking. The Trump family has long linked political involvement to private profits. During his first term, Trump occasionally tried to maintain the appearance of separating his presidency from his businesses, though he didn’t put much effort into it.
A Congressional report released last year detailed how foreign governments, including China, interacted with Trump’s businesses during his presidency. Millions were spent at Trump properties such as the Trump Hotel in Washington, D.C., Trump Hotel in Las Vegas and Trump Tower across from the United Nations headquarters.
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נשיא ארה"ב דונלד טראמפ
נשיא ארה"ב דונלד טראמפ
(Photo: AP /Evan Vucci)
Additionally, Trump earned hundreds of thousands of dollars from the U.S. government, billing for Secret Service agents’ lodging costs while protecting him at his properties. Overall, the report found Trump’s businesses received at least $7.8 million from 20 foreign governments.
The U.S. Constitution prohibits federal officials from receiving money, payments or gifts "of any kind" from foreign governments or royalty without Congressional approval. Trump never sought such approval during his first term, a period when checks and balances were still in place.
In his upcoming term, he will face virtually no oversight, thanks to Republican control of Congress for at least the next two years and a Supreme Court ruling granting the president near-total immunity for actions taken in the White House.
As a final note, Trump continues to profit from The Apprentice, including an annual $90,000 pension from the Screen Actors Guild - American Federation of Television and Radio Artists (SAG-AFTRA).
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