(RoyalPatriot.com )- Former President Donald Trump may be facing a lot of investigations and inquiries, but it’s having no effect on his wealth.
Forbes recently reported that Trump now has a net worth of $3 billion, which is considerably higher than when he was in the White House, but still lower than before he became president.
The $3 billion number is an impressive climb from the estimated $2.4 billion he was worth just last year. He was estimated to be worth $4.5 billion before he ran for president back in 2016, but that dropped considerably to $2.1 billion as of 2020.
These numbers go to prove what Trump said way back in 2018 — that the White House was actually costing him a significant amount of his personal fortune. In 2018, he said to Fox News:
“I said to one of my friends, a very wealthy friend, I said, ‘You know, I’ll bet you it (the presidency) cost me $2 billion or $3 billion, and it’s worth every penny of it.’ I don’t need the money, and it’s worth every penny because I’m doing so much for the country.”
Forbes reported that the big reason why Trump’s wealth has soared so much in just one year is because he launched Truth Social, a social media company that hopes to provide conservative voices an alternative to other big tech platforms such as Twitter.
As Forbes’ writer Dan Alexander wrote in his piece:
“Donald Trump, master of reinvention, has a new title: tech entrepreneur. It’s a stretch for the 75-year-old, who doesn’t even use email, preferring instead to scrawl notes in marker. But he doesn’t mind jumping into venues in which he has little previous experience — and this gig should prove far more lucrative than the presidency. In fact, it has already boosted his net worth by $430 million.”
Investors continue to pump money into Truth Social, despite the fact that it’s faced some big challenges in its early days. The app isn’t getting nearly as many downloads today as it was even a few weeks ago, and two of its top executives departed from their positions in recent weeks.
Shares of Truth Social jumped to more than $56 when the market closed Monday, which was a huge increase from $10 just a few days before.
Digital World Acquisition Corp. is in the process of taking the company public, despite investigations into its own operations by the Securities and Exchange Commission.
According to this most recent report published by Forbes, Trump is currently the 1,012th richest person in the entire world.
It’s possible that Trump is worth even more than this, too. It’s difficult for media outlets like Forbes and others to exactly pinpoint how much the former president is worth because he hasn’t released his tax returns, either when he was a candidate for president or when he was serving in the White House.
Those are typically the official forms outlets use to estimate a person’s wealth.
