‘Many millions’: Donald Trump’s big win over Kamala Harris
As Kamala Harris picked away at Donald Trump in their bitter debate, the 45th President was quick to hit back at one issue and there is evidence to back his claims.
As Kamala Harris picked away at Donald Trump during their debate Wednesday with claims he had money given to him, the 45th President was quick to hit back that he was a self-made man.
“I’ve made many millions, many millions, people can’t believe how many millions I’ve made,” Trump said in Philadelphia in his usual pugnacious laiden hyperbole.
And there is evidence to back this up.
Donald Trump made his fortune as a property developer and when it comes to real estate, the 45th President of the United States’ real estate portfolio dwarfs that of his opponent in this year’s general election Kamala Harris.
MORE: 20yo OnlyFans twins’ bizarre $6m demand
According to Forbes, Trump has an estimated net worth of US$7.5bn (A$11.27bn), including real estate assets estimated to worth US$1.1bn ($A1.65bn).
In comparison, the net worth of Harris and her husband Doug Emhoff is estimated to be about $US8 million ($A12.13m), the majority made up by their real estate holdings.
Mar-a-Lago, the private club in Palm Beach Florida, worth $US325m is the Republican nominee’s greatest single real estate holding. His other resort nearby, Trump National Doral Miamis is worth around $US273m.
MORE: ‘Missing’ socialite’s home sold for $21m
Trump also owns three homes in Palm Beach Florida, worth a combined US$86m.
A big lover of golf, Trump has invested heavily in the game and owns 10 courses in six US stats worth around US$342m and two golf resorts in Scotland and another in Ireland worth a combined value of around $US100m.
It’s in New York City, where Trump first made his name as a real estate developer and he continues to hold a considerable amount of his wealth there.
That includes the US$1.8bn 1290 Avenue of the Americans of which Trump owns a 30 per cent stake worth around $US248m.
He also owns 30 per cent of the US$1.6bn, 555 California St, all of Trump Park Avenue which is worth an estimated US$105m and all of Trump Tower which is valued at around US$161m.
The Republican leader also owns the leasehold of 40 Wall St, worth US$168m through to 2059.
MORE: Experts warn: Don’t buy in these Aussie suburbs
His New York residence, the 11,000 square foot Trump Tower Penthouse is worth US$50m.
He also owns 50 per cent of Trump International Las Vegas which is valued at around US$122m.
Harris’s real estate worth is much less, although compared to the average Aussie or American her property assets are still considerable.
Vice President Harris achieved millionaire status despite working as a public servant and it’s thanks to a massive investment portfolio and property she owns with her husband, Doug Emhoff.
The US Sun reports, the couple’s net worth is estimated to be about $US8 million ($A12.13m) and they own property in California with some high-profile neighbours.
Emhoff, 59, initially took out a $US2.7 million loan for a Brentwood, California, estate in 2012. He transferred the four-bedroom, five-bathroom home with a private pool into a joint trust after marrying Harris in 2014, according to The Wall Street Journal.
MORE: ‘Quitter’s bunker’ Joe Biden is now calling home
The 325 sqm Brentwood house is located 10 minutes from the highly popular Getty Center Museum, as well as the Will Rogers State Historic Park.
According to the unit’s property profile, the single-family home was built in 1948. Information about the home has been kept under wraps as the vice president is understood to still own the place despite living in Washington DC as part of her duties as vice president.
Harris and Emhoff are not the only big names to call Brentwood home. The second family is reportedly neighbours with high-profile celebrities such as Gwyneth Paltrow, Gisele Bündchen, Dr. Dre, and LeBron James.
Former president Richard Nixon had property in Brentwood before being elected to the presidency. While working in DC, Harris and her husband live at the Naval Observatory, the official residence of the vice president and their family.
MORE: Ronaldo’s mansion to be ‘most expensive ever’
She and her husband are understood to have owned several other properties, including a $US1.775 million two-bedroom condo in Washington DC and a condo in San Francisco, which cost Harris half a million dollars in 2004.
Harris sold her DC condo in 2021 for a whopping $1.85 million, per Architectural Digest.
In 2021, the one-bedroom apartment Harris maintained in San Francisco was put on the market and sold ten days later for almost $800,000, Daily Mail reported.
Most of Harris’ wealth came after she married Emhoff in 2014, according to documents disclosed by Harris during her run for president in 2020. Her net worth significantly increased when she and Emhoff, who was an entertainment lawyer at the time, combined assets.
Prior to that, most of the money Harris made came from being the San Francisco district attorney and later, California’s attorney general.
RELATED: ‘Nonsense’ – Biden’s bizarre scheme to pay off his house
Finance documents stated Emhoff made $US1 million per year and held dozens of investments and stocks in various companies such as Home Depot, St. Jude Medical, Comcast, and American Express, reports ABC News.
Shortly after Harris announced her decision to run for the Senate in 2015, Emhoff got rid of much of the stock he owned.
Harris, meanwhile, saw another significant bump in assets via a $US300,000 advance payment for her memoir, The Truths We Hold
In 2018, Harris and Emhoff reported a gross joint income of $US1,889,156, per a tax return.
Before Harris took over as vice president, Emhoff announced he would be leaving his law firm and took up a job at Georgetown University’s law school, where he reportedly makes $US200,000.
MORE: Soaring rents force Aussies to flee major cities
INSIDE THEIR INVESTMENTS
The WSJ reported that the couple made $US450,299 together in 2023, according to a jointly filed tax return, and that they have assets ranging up to $US7.36 million. Financial advisors said that most of the couple’s wealth is in their retirement funds. They have between $US1.79 million and $US4.4 million in their retirement accounts.
Last year, they gave $US23,026 to charity. Their largest gifts went to Howard University and two colleges in California. They also contributed to non-profit and religious organisations. The couple has $US850,000 to $US1.7 million across four bank accounts, according to WSJ.
One of their joint bank accounts has a balance of $US50,001 to $US100,000. The Journal reports that Harris and Emhoff’s portfolio is “conservatively allocated,” with about half of their money in stocks, a third of it in cash, and the rest in bonds.
Originally published as ‘Many millions’: Donald Trump’s big win over Kamala Harris
‘Horrific’: Australia’s most shocking rentals
Aussie tenants have revealed the worst homes they had to endure this year, including properties with mice, mould, cockroaches and other jaw dropping issues.
$200k loss: Where renters beat landlords
Sick of hearing about investors who made big money in the property market? Well, Barefoot Investor Scott Pape shows the suburbs where the tables have turned.
Investors, first-home buyers battle at auction in outer southwest
An investor from regional Victoria outbid first homebuyers in a Melbourne’s outer southwestern suburb sparking signs an end to the rental supply could be in sight for the area. Here’s what we know.