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Tuesday, July 23, 2024

Trump Lost $2 Billion as President, but Still Donated Every Paycheck

Donated his $1.6 million salary (over four years) to fund healthcare, parks, infrastructure and other government initiatives...

At almost 70 years old, Donald Trump set aside a luxurious retirement to serve the American people, which cost him $2 billion during his tenure, the Washington Examiner reported.

When Trump left office in January, his net worth was $2.5 billion—down from $4.5 billion when he decided to run for president—and Forbes listed him as the 121st wealthiest American.

Coronavirus lockdowns around the world devastated Trump’s family-run business, as its net worth (much of it in plummeting Manhattan real-estate holdings) fell about $600 billion last year.

The Trump Organization’s revenue fell to $278 million in 2020, down 38% from 2019.

Corporate America punished Trump throughout his term for clashing with the establishment.

Many companies stopped doing business with the Trump organization after the Capitol Hill protest on Jan. 6.

Despite these setbacks, revenue increased for Mar-a-Lago resort in Florida—the base of Trump’s ongoing operations.

The resort earned $24.2 million last year, up 13% from the $21.4 million revenue in 2019, though down from revenues exceeding $30 million in earlier years.

As he promised, Trump did not collect his $400,000 paycheck as president.

Instead, he donated the money—$1.6 million over four years—to fund healthcare, parks, infrastructure and other government initiatives, Snopes reported.

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