Donald Trump has officially dethroned George Washington as the richest US president in history.REUTERS/Kevin Lamarque
On Friday, Donald Trump was inaugurated as the 45th president of the US.
Trump officially became the richest president in US history, dethroning George Washington, the country’s first president.
As Brett LoGiurato previously reported for Business Insider, the real estate mogul released a report in last July claiming to be worth around $8.7 billion. However, Forbes estimates his net worth is closer to $3.7 billion.
Since the president hasn’t released his tax returns, his complete financial situation remains somewhat unclear.
But Trump’s status as a billionaire makes him more than twice as rich as Washington, whose estimated net worth would amount to around $525 million in today’s dollars.
Had he lived to inherit his father’s financial empire, John F. Kennedy may have been the only other billionaire to take a turn in the Oval Office, according to data from 24/7 Wall St. Several other presidents, including Thomas Jefferson, Theodore Roosevelt, and Andrew Jackson, were worth well over $100 million.
Trump can also thank inheritance for jump-starting his path to wealth. Starting with a $1 million loan from his father, Fred, Trump took out a bank loan of more than $100 million, which he parlayed into a series of real-estate projects in Manhattan, including Trump Tower and the Grand Hyatt Hotel. As his real-estate business took off, Trump branched out into golf courses, casinos, and various branded products.
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