Donald Trump's net worth in 2023: How much money does the former president really have?
Former President Donald Trump was ordered to pay $5 million in damages to writer E. Jean Carroll after a federal jury on Tuesday found him liable for battery and defamation in a civil trial stemming from allegations he raped her in the 1990s.
The award comes after Trump last year reclaimed a place on Forbes' annual list of the 400 richest Americans, after tumbling from the rankings in 2021.
Following the verdict, Trump posted on Truth Social: "I HAVE ABSOLUTELY NO IDEA WHO THIS WOMAN IS. THIS VERDICT IS A DISGRACE - A CONTINUATION OF THE GREATEST WITCH HUNT OF ALL TIME!" He didn't address the monetary award in his post.
The jury found Trump liable for sexual assault, but not rape, and also found that he defamed Carroll. Here's what to know about Trump's wealth.
How much is Trump worth?
As of May, Forbes estimates Trump's net worth at $2.5 billion, putting the real estate developer at No. 1,232 on the magazine's list of the world's richest billionaires.
That's a 22% decline from 2022, when the magazine estimated his fortune at $3.2 billion. So while his wealth has dipped, a $5 million award stemming from the Carroll ruling represents a small fraction of his overall wealth.
Where does Trump's wealth come from?
Trump's wealth largely stems from real estate, with Forbes pegging his New York property holdings at $720 million. He also owns golf clubs and resorts valued at $730 million, such as Trump National Doral Miami and Mar-a-Lago, also in Florida. Other assets and investments are worth another $840 million, the magazine reports.
Those other investments include a large stake in Trump Media & Technology Group, which runs the conservative social network called Truth Social. Last year, Forbes called that stake his "single most valuable asset."
Why has Trump's net worth declined?
Two words: Truth Social. The venture has wiped more than $500 million from his net worth this year, Forbes estimates.
Last year's higher valuation of Trump Media & Technology Group was based on the expectation that the company would go public via a so-called special purpose acquisition company, or SPAC. But that plan went awry as the company that was supposed to orchestrate the merger, Digital World Acquisition Corp. (DWAC), postponed the merger vote.
The merger is also being scrutinized by regulatory agencies such as the Securities and Exchange Commission, which must sign off on the Digital World-Trump Media merger for it to go through. Trump has called the investigations politically motivated "witch hunts."
With the troubles facing Trump's media company, Forbes estimates his stake in the business is now worth $180 million — well below the $730 million the social media business was estimated to be worth last year.
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