Across the president’s $3.1 billion portfolio, he has cut members of his family in on just a single meaningful deal: a $15 million stake in the Trump International Hotel in Washington, D.C. by ChaseWithorn
ver the years, Donald J. Trump has been a hardnosed Republican, an independent firebrand, a left-leaning Democrat, then a Republican once again. He has called for the rich to pay more in taxes, he has proposed plans that allow them to pay less. Yet one thing has remained consistent: His pure hatred of the estate tax—a “lousy tax” and a “horrible weapon that has destroyed many families.” Such animosity makes sense, given the state of his finances.
In fact, despite years as top execs at the Trump Organization, Trump’s three adult children own a meaningful stake in just one significant project: the Trump International Hotel in Washington, D.C. There Trump’s kids, who helped turn the former U.S. postal service building into a luxury hotel, each own a 7.5% share, worth $5 million apiece. Big money for most people, including the Trump children, but cumulatively just 0.5% of the family’s wealth.Across the president’s $3.
“Some of the wealthiest people I represent die with almost nothing in their name,” says Robert Keebler, a Wisconsin-based accountant for the rich. Which raises the question, why would Donald Trump of all people, a notoriously close-fisted billionaire who has said not paying taxes “makes me smart,” leave himself vulnerable to the biggest tax of all?The Trump Organization would not comment for this story. The president could be planning on giving his fortune to charity—though this seems unlikely.
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