The president of the United States isn’t the only Trump with his eyes on the money. Since President Donald Trump’s upset electoral victory in the 2016 presidential election, the Trumps have underwent a fascinating transformation from leading business entrepreneurs, reality TV stars and QVC magnates into a full-fledged first family, despite everyone except the president still residing outside of the White House.
Trump is reportedly worth somewhere over $3 billion, though the president often provides conflicting accounts of his total value: he told a Wall Street Journal reporter he maintained a fortune of $5 million but claimed that same month he was worth just over $3 billion in a financial statement. Regardless, the first family could see their total net worth skyrocket during a Trump presidency that is successful in fulfilling the campaign promises the Republican firebrand candidate repeatedly made along the campaign trail. That includes increasing investments on infrastructure nationwide by building news roads, bridges and repairing inner cities, creating millions of factory and construction jobs in the private sector along the way.
Despite reportedly stepping away from the bulk of their business operations, the Trumps appear to be just as concerned with the value of their family corporation and other fashion, jewelry and real estate ventures as ever; if not more. Some of their business interests have admittedly taken a hit since Trump was sworn into office Jan. 20 – major retail outlets like Nordstrom have decided to pull Ivanka Trump’s fashion and jewelry lines off the shelves, while thousands of protesters have boycotted businesses selling the president’s products and others whose CEOs have been serving on Trump’s advisory councils, like Macy’s and Uber.
But the Trumps haven’t accrued the majority of their tremendous wealth through clothing sales and online shopping. Instead, the Trumps have relied on a massive real estate empire sprawling across the globe that’s been passed down from the president’s father, who established the family company in the 1920s.
Trump took a massive hit in 1990 during the decline of the national real estate market. The future president felt the market crash where it hit the hardest: in his hometown of New York City, where he was forced to take out multiple loans to stay afloat. Trump reportedly lost over a billion dollars, his net worth sharply declining from $1.7 billion to just $500 million in a single year. This was essentially the lowest point of Trump’s career, as well as the value of his family businesses and net worth, and was in direct relation to the fragility and poor health of the national economy.
If Trump is able to spur a surge in construction and building amongst private businesses, his family could witness the exponential growth of the Trump real estate business, both domestic and abroad, over the next four or eight years. Their stocks in companies involved in potential construction projects Trump vowed to initiate during his time in office, like energy companies building the Dakota Access Pipeline halted by former President Barack Obama, would also almost definitely increase.
Source: SANS ISC SecNewsFeed @ February 18, 2017 at 06:57AM