Trump has not clearly stated that he would consider selling or passing on his more than 500 companies to his children if elected president.
As a report from CNBC suggests, there are enough loopholes in the legal system that Trump would still be able to remain CEO, chairman, and president of The Trump Organization and carry on earning his billions.
There simply aren’t ample checks and balances to prevent Trump from continuing to earn billions if elected U.S. president. He could easily abuse his elected power to appoint heads of federal agencies and boards which would create a better financial landscape for his personal gain.
What’s more, Trump’s main opponent, Hillary Clinton, also has a major fortune in a variety of stocks, real estate, mutual funds, and trusts. Yet, because her net worth is so small ($31.3 million) compared to Trump’s, voters don’t seem to be as concerned that her personal holdings will affect her policymaking decisions.
According to a BBC report, Forbes estimates Trump’s net worth to be $4.5 billion, while other sources claim it is something closer to $3.9 billion. The mogul, however, proclaims that his net worth is valued at upwards of $10 billion, although he has no way of proving this nor has he. The majority of his business holdings are private, which may explain the huge discrepancy in numbers.
Trump’s massive fortune can be traced back to his early days as a real estate mogul in New York City in the mid-1970’s when he began to invest in grand construction projects, including the Plaza Hotel and his own Trump Tower, which was completed in 1983 by Barbara Res.
A question that still remains is how can Trump be trusted to make decisions for the best interest of the United States if he continues to enhance his own portfolio? Although he has claimed in a foreign policy speech to put the interests of the American people at the forefront, so many of his statements are immersed in falsehoods that he, like so many politicians, cannot be readily trusted.
As The New Yorker suggested, when a country becomes too democratic, it becomes a breeding ground for political tyranny. Democrat presidential hopeful Bernie Sanders maintains his critique of the super elite, stating that political power in the U.S. is today bought, not earned.
Banner Image Credit: Reuters