According to a lengthy analysis by a correspondent for National Journal, real-estate-mogul-turned-Republican-presidential-candidate Donald Trump was always going to be a billionaire – whether he worked for it or not.
As reporter S.V. Dáte notes, Trump took over a $200 million real-estate-development business from his father, Fred Trump, in 1974.
Dáte estimates that Trump’s share of the empire – he has three siblings – was $40 million.
“Had the celebrity businessman and Republican presidential candidate invested his eventual share of his father’s real-estate company into a mutual fund of S&P 500 stocks in 1974, it would be worth nearly $3 billion today,” Dáte writes.
Though Trump says his net worth is $8.7 billion, Forbes puts it at $4 billion.
In 1982, however, Forbes estimated Trump’s net worth to be $200 million, an amount Dáte says could’ve grown to more than $8 billion by now had Trump dropped his fortune into an index fund.