How exactly does Trump make money
Donald Trump wasn't exactly sure how much the President of the United States was making in the first place. "I think by law I have to take a dollar, so I take a dollar a year," he said in a television interview on Sunday night. "But it would be - I don't even know how much it would be. Do you know what the salary is?" He asked the presenter. 400,000 dollars, she said. "No, I will not accept the salary," said Trump. "I do not take it." The billionaire had already announced during the election campaign that he did not want the money from the state.
He is not the first President of the United States to waive his salary. John F. Kennedy and Herbert Hoover did not accept the presidential wages either; both were very rich and donated the money to aid organizations. Trump is richer than you, he is by far the richest man who will ever move into the White House. It looks like he doesn't need the $ 400,000 annual salary.
How rich he is, however, is unclear. Unlike his predecessors, the future president has not published his tax returns and has a complex network of companies and real estate holdings. Trump said in the election campaign that he was worth more than ten billion dollars. The magazine Forbes, specializing in rankings of the super-rich, estimated his net worth at $ 3.7 billion in September - $ 800 million less than a year earlier.
Trump: "I don't care about hotel occupancy"
Trump's empire is shrinking - and could shrink even further. On the one hand, this is due to the fact that the New York real estate market is slightly weaker than in previous years, retail space and office space in particular are a bit cheaper, and Trump owns many of them, such as the glass skyscraper Trump Tower on Fifth Avenue. On the other hand, the value of his brand has shrunk. Real estate agents report that it has become more difficult to rent out the apartments in their apartment towers. And bookings in his hotels are also falling. "We had a hard time in early summer, after that the bookings rose again slightly, but other people come," said the receptionist of a Trump hotel. "You take a lot of photos and don't drink anything from the minibar."
Trump's children now have to deal with such problems. The real estate mogul wants to leave the management of the company to his three eldest offspring, Donald Jr., Ivanka and Eric. She is not worried about the impact of the election campaign and the presidency on business, said Ivanka Trump in the television interview to which the Trump children accompanied their father. Trump Sr. added: "I think what Ivanka is trying to say is, 'Who cares? Who cares?' This is the big league. We're going to save our country. I don't care about hotel occupancy. These are peanuts compared to what we're going to do. "
Trump has announced that, unlike his predecessors, who had larger amounts of money and companies, he does not want to transfer his assets to a so-called blind trust. In such funds, an independent trustee takes over the entire investment portfolio, the owner gives up his say and does not learn anything. Trump wants his children to run the company - they are not independent. "I think we will have a lot of fun doing it," said Eric. "And we will make him very proud."
Giuliani: "You have to trust the President's integrity"
The reason for the blind trusts of the predecessors in the presidency was the fear of conflicts of interest. The politicians wanted to avoid the people wondering whether they are making decisions to help the country or to promote their companies - for example when it comes to trade agreements with other countries.
Rudolph Giuliani, ex-Mayor of New York and one of Trump's advisors, justified the decision with the future prospects of the Trump children, who have been working in the family business for a long time. It is not fair to take their jobs away from them, he said. "You have to have confidence in the integrity of the president," said Giuliani, who is in talks for various government offices. "The man is an enormously rich man. I don't think there is any real concern that he wants to get rich. If he wanted to get rich, he would not have run for election."
In any case, Trump wants to save on luxury travel for himself and his family in the next four years. "We have so much work. There is so much work to be done. And I want to do it for the people," he said. "Well, I don't think we're going to go big on vacation."
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