- Donald Trump is set to replace Joe Biden as the US president after flooring Democrat Kamala Harris in a highly-contested poll
- As of Wednesday, November 6, morning, the 78-year-old had garnered 266 electoral college votes against Kamala Harris’s 188
- Trump’s net worth doubled from $4 billion (KSh 516 billion) at the start of October to $8 billion (KSh 1.032 trillion) at the end of the month
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TUKO.co.ke journalist Japhet Ruto has over eight years of experience in financial, business, and technology reporting and offers profound insights into Kenyan and global economic trends.
The Republican candidate in the 2024 US election, Donald Trump, is poised to be the powerful country’s next president, having taken the lead in a highly contested poll against Democrat Kamala Harris.
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CNN reported that Trump had garnered 266 electoral college votes on Wednesday, November 6, morning, against Kamala’s 188.
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What is Donald Trump’s net worth?
According to Forbes, the 78-year-old’s net worth doubled from $4 billion (KSh 516 billion) at the start of October to $8 billion (KSh 1.032 trillion) at the end of the month.
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This came as his media company, Trump Media & Technology Group, rallied for several weeks after it was projected that he would win the US presidential election.
The Real-Time Billionaires tracker ranked Trump as the 357th richest person in the world.
Trump’s wealth increased as Trump Media closed Tuesday, October 29, at $51.51 (KSh 6,644), up almost 9%. In the same time frame, Trump Media’s stock price, which began October at $16.16, has more than tripled (up 249.2%).
Investors were reportedly feeling more confident in his chances of winning, propelling the cost of shares in his media company.
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What are Donald Trump’s sources of income?
CBS News revealed that Trump’s initial wealth is derived from real estate, which includes hotels and golf courses worldwide to residential complexes in New York City, even though he has billions in Trump Media & Technology Group stock.
Trump began his career working for his father, Fred Trump, a real estate developer in New York City who constructed over 27,000 apartments and row houses in Queens and Brooklyn.
He asserted that he was able to establish his own company, which now owns properties like the Trump Tower in Manhattan and the Mar-a-Lago club in Florida, thanks to his father’s $1 million (KSh 129 million) loan.
The US tycoon also accumulated his wealth from digital assets including cryptocurrencies and non-fungible tokens (NFTs).
How Trump defeated Harris
Trump defeated Kamala Harris in some key states, including Texas and Florida, gaining a lead over the Democratic candidate.
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He also won Pennsylvania state, which was often described as the most crucial battleground in the fight for the White House.
In his victory speech, Trump described the win as a historic moment, given the Republican candidate is also set to win in the popular votes.
Source: TUKO.co.ke
