Donald Trump, the billionaire real estate mogul, valued his fortune at $9bn as he officially entered the race for the White House.
Publishing the most detailed summary of his financial worth in years, Trump said his portfolio of hotels, other properties and media assets, including Miss Universe, was worth over $8.7bn, once liabilities were removed.
Giving a reckoning of finances is a requirement for presidential candidates, and after a series of dud runs for office, Trump’s move heralded a more serious bid for the nomination.
“I have total net worth of $8.73bn,” he said. “I’m not doing that to brag. I’m doing that to show that’s the kind of thinking our country needs.”
According to the statement, most of Trump’s wealth comes from real estate licensing deals, brand and branded developments, listed as worth more than $3.32bn. His commercial property was valued at over$1.69bn. The Miss Universe, Miss USA and Miss Teen USA Pageants were valued at $14.8m, and Trump listed $302.3m in cash on hand. His total assets were valued at $9.24bn and liabilities totalled $502.7m.
The declaration is unlikely to end an often heated and litigious debate over Trump’s real worth. At $8.7bn, the list of assets is more than double Forbes magazine’sassessment of Trump’s wealth, which pegs his net holdings at $4.1bn.
In 2009, a judge dismissed a defamation suit Trump brought against Timothy O’Brien, author of Trump Nation: The Art of Being the Donald. O’Brien estimated Trump’s wealth at $150m to $250m. Trump’s estimate at the time the book was published was $5bn.
The property baron-turned-reality TV star clearly sees his wealth as a key asset in the race. “I’m the most successful person ever to run for the presidency, by far,” he told Des Moines Register this month. “Nobody’s ever been more successful than me. I’m the most successful person ever to run. Ross Perot isn’t successful like me. Romney – I have a Gucci store that’s worth more than Romney.”
Trump’s figure (or Forbes’ estimate) would make him by far the wealthiest of the contenders in the 2016 race for the presidency – now at 16 and counting.
Carly Fiorina, the former Hewlett Packard boss, has a fortune worth $59m. Hillary Clinton, the Democratic frontrunner, and husband Bill earned $30m in the past 16 months, according to recent disclosures.
Trump will have to file a far more detailed financial statement with the office of government ethics (OGE) if he is to pursue a run for the presidency. That statement will offer a closer read of his assets and liabilities and include those of his spouse.
Candidates have 30 days to file with the OGE after formally declaring their bid.
