The Trump Family Fortune

[Dave24]

Why hasn't the Trump family fortune been squandered yet? Usually, wealthy families squander the wealth by the third generation but the Trump family seems different.

Frederick Trump - Wikipedia (1st Generation)

Fred Trump - Wikipedia (2nd Generation)

Donald Trump - Wikipedia (3rd Generation)

Ivanka Trump - Wikipedia (4th Generation)

Frederick Trump (born Friedrich Trumpf; 14 March 1869 – 30 May 1918) was a German–American businessman and the patriarch of the Trump family. Born in Kallstadt, in the Kingdom of Bavaria (now in Rhineland-Palatinate, Germany), he emigrated to the United States at the age of 16 and started working as a barber. Several years later, in 1891, he moved to the Northwest. He made his fortune by operating restaurants and boarding houses (brothels) in Seattle and the mining town Monte Cristo, and brothels in the Klondike Gold Rush.[1][2] He later returned to Kallstadt and married. Bavarian authorities accused him of immigrating when he was young to avoid fulfilling his military service, so he lost his Bavarian citizenship; he and his family returned to the United States.

He worked as a barber and hotel manager, and began to acquire real estate in Queens. He was the father of Fred and John G. Trump, and grandfather of Donald Trump, the 45th president of the United States.

In 1908, Trump bought real estate on Jamaica Avenue in Woodhaven. Two years later, he moved his family into the building on the land, renting out several rooms. He also worked as a hotel manager at the Medallion Hotel on 6th Avenue and 23rd Street.[3]:112 Trump intended to continue buying more land, but during World War I he kept a low profile because of anti-German feelings in the US due to the war. German-born citizens came under suspicion.[3]:113–115

On May 29, 1918, while walking with his son Fred, Trump suddenly felt extremely sick and was rushed to bed. The next day, he was dead. What was first diagnosed as pneumonia turned out to be one of the early cases of the 1918 flu pandemic, which caused millions of deaths around the world.[3]:116 He was 49 years old.

At his death his net holdings included a 2-story, 7-room home in Queens; 5 vacant lots; $4,000 in savings; $3,600 in stocks; and 14 mortgages. Altogether his net worth was $31,359 ($522,900 today).[3]:118 His wife and son Fred continued his real estate projects under the Elizabeth Trump & Son moniker

Frederick Trump - Wikipedia



2nd generation/Fred Trump:

Frederick Christ Trump

(October 11, 1905 – June 25, 1999) was an American real estate developer, primarily in New York City, and father of Donald Trump, the 45th president of the United States, and Maryanne Trump Barry, a United States Court of Appeals judge.

Fred Trump's father Frederick died when Fred was 12 years old. By 15, in partnership with his mother Elizabeth Christ Trump[1] and non-family investors, Trump had begun a career in home construction and sales. The development company was incorporated as Elizabeth Trump & Son in 1927, and grew to build and manage single-family houses in Queens, barracks and garden apartments for U.S. Navy personnel near major shipyards along the East Coast, and more than 27,000 apartments in New York City.[2][3]

Trump was investigated by a U.S. Senate committee for profiteering in 1954.[4] He made Donald the president of Trump Management Company in 1971,[5] and they were sued by the U.S. Justice Department's Civil Rights Division for violating the Fair Housing Act in 1973.[6]

https://en.wikipedia.org/wiki/Fred_Trump#cite_note-KranishOHarrowWP160123-6

Trump appeared on the initial Forbes 400 list of richest Americans in 1982 with an estimated $200 million fortune shared with his son Donald.[36] In 1976, Trump had set up trust funds of $1 million for each of his five children and three grandchildren ($4.4 million in 2018 dollars), that paid out yearly dividends.[37] By 1993, the siblings' anticipated shares of Trump's estate amounted to $35 million each.[38][37] Upon Trump's death in 1999, his will divided $20 million after taxes among his surviving children.[37][39][40]

In October 2018, The New York Times published an exposé drawing on more than 100,000 pages of tax returns and financial records from Trump's businesses, and interviews with former advisers and employees. The Times concluded that his son Donald "was a millionaire by age 8,"[41] and that he had received $413 million (adjusted for inflation) from Fred's business empire over his lifetime.[42] According to the Times, Trump loaned at least $60 million to his son, who largely failed to reimburse him.[41] The paper also described a number of purportedly fraudulent tax schemes, for example when Trump sold shares in Trump Palace condos to his son well below their purchase price, thus masking what could be considered a hidden donation, and benefiting from a tax write-off.[42] Donald Trump's lawyer denied the allegations of fraud and tax evasion, while the New York tax department stated they would investigate the issue.[43]

https://en.wikipedia.org/wiki/Fred_Trump#cite_note-43

Fred Trump - Wikipedia




3rd Generation/Donald Trump:

Donald John Trump

(born June 14, 1946) is the 45th and current president of the United States. Before entering politics, he was a businessman and television personality.

Trump was born and raised in the New York City borough of Queens and received an economics degree from the Wharton School. He was appointed president of his family's real estate business in 1971, renamed it The Trump Organization, and expanded it from Queens and Brooklyn into Manhattan. The company built or renovated skyscrapers, hotels, casinos, and golf courses. Trump later started various side ventures, including licensing his name for real estate and consumer products. He managed the company until his 2017 inauguration. He co-authored several books, including The Art of the Deal. He owned the Miss Universe and Miss USA beauty pageants from 1996 to 2015, and he produced and hosted The Apprentice, a reality television show, from 2003 to 2015. Forbes estimates his net worth to be $3.1 billion

Donald Trump - Wikipedia


4th Generation/Ivanka Trump:

[/QUOTE]Ivana Marie "Ivanka" Trump (/ɪˈvɑːŋkə/; born October 30, 1981) is an American businesswoman, fashion designer, author and reality television personality. She is the daughter of the 45th president of the United States, Donald Trump, and former model Ivana Trump. Ivanka is her father's senior advisor and is also the first Jewish member of a First Family, having converted before marrying her Jewish husband, Jared Kushner.[2]

Trump is a fourth generation businessperson who followed in the footsteps of her great-grandmother Elizabeth Christ Trump (who founded the company), grandfather Fred Trump, and father Donald Trump. Ivanka was an executive vice president of the family-owned Trump Organization. She was also a boardroom judge on her father's TV show The Apprentice.[3] She moved to Washington, D.C. in January 2017 after her husband was appointed Senior Advisor to the President.

Starting in March 2017, she began serving in her father's presidential administration. She assumed this official, unpaid position[1] after ethics concerns were raised about her having access to classified material while not being held to the same restrictions as a federal employee.[4][5] She was considered part of the president's inner circle[6] even before becoming an official employee in his administration.[/QUOTE]


Ivanka Trump - Wikipedia

 

[L&HH]

It probably was on it's way to being squandered and then Trump just became President.