How Much Gold Does Donald Trump Own?
Friday July 24, 2015 14:28
(Kitco News) - Gold’s growing downtrend has not endeared a lot of investors to the precious metals market, but apparently 'The Donald' is a fan of the yellow metal.
July 15, Republican Presidential candidate Donald Trump submitted his financial statement to the Federal Elections Commission (FEC), listing his assets and liabilities, and according to the information, he owns between $100,001 and $200,000 in gold.
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Even more impressive his gold holdings were reported on page 36 of the 92 pages that made up his disclosure statement. What is interesting is that his holdings appear to be in physical gold -- bullion -- not shares of gold-backed exchange-traded funds, nor future’s contracts.
Of course, his gold holdings are minuscule compared with his overall wealth, which the FEC document puts at 1.35 billion (a total of his assets minus his liabilities). However, this figure is misleading as the FEC only asks for candidates to provide a dollar range with the top category being “over $50,000,000.”
In a press release following the filing of his financial statement Trump, in his bombastic fashion, said “The financial report is not designed for individuals with such a 'massive wealth,'.…”
Bloomberg has calculated Trump's wealth at around $2.4 billion while Forbes estimates it is around $4 billion. Trump himself has put his wealth at more than $10 billion dollars, saying higher property values around the world have increased his wealth.
Despite the actual amount of his net worth, the document shows an extremely diversified investment portfolio, which totals about $70 million dollars and includes a variety of blue-chip stocks: Apple, Bristol-Myers Squibb, Caterpillar, AT&T, JPMorgan Chase.
Trump also makes money off of his name as the documents show that he made $9.5 million in licensing deals, attaching his name to everything from energy drinks to vodka.
The statement also shows that Trump holds a position in more than 500 organizations, and more than half of them bear his name or initials.