Trump Golf Resort Triples in Value

Amid his fluctuating fortune and legal battles, one of Donald Trump’s real estate holdings is estimated to have tripled in value in just one year.

Trump National Doral, the former president’s 800-acre golf resort in Miami, is estimated to be worth $149 million, up from just $42 million last year, according to figures in Forbes’ latest Billionaires list.

The valuation, largely due to profits at Trump’s Miami resort doubling compared to 2019—the year before the COVID-19 pandemic impacted financial outcomes, Forbes said—establishes it as one of Trump’s prime assets beyond his 58 percent ownership in the Truth Social platform.

The leap positions the Miami resort nearly as valuable as Trump’s Mar-a-Lago home, according to Forbes, with its net worth growing 254 percent from the previous year.

The gains come at an important time for the former president and presumptive Republican presidential nominee as he faces millions in legal liabilities from cases in New York, along with the volatile value of Truth Social.

Released on Tuesday, the Forbes 2024 Billionaires list ranks Trump as the 1,438th-richest person globally, with a net worth of $2.3 billion, accounting for all assets minus liabilities. However, his real-time net worth of $5.9 billion—reflecting market-driven asset valuations like his stake in Truth Social—places him in the 505th spot among the world’s wealthiest.

After a brief absence from the list in 2023, Trump made a return after his media venture, Trump Media & Technology Group, which holds the Truth Social platform, went public in March, catapulting him back onto the list.

The 58 percent stake he owns in the company contributed roughly $4 billion to his net worth and constitutes about 69 percent of his asset portfolio. At the same time, however, Truth Social booked just $4.1 million in revenue over the course of last year while losing $58 million.

It should be noted that Trump can’t sell shares of his Truth Social stake for at least the next 25 weeks unless permitted by his board of directors, which includes former advisers and son Donald Trump Jr.

While the billions added to his net worth look great on paper, Forbes estimates that Trump has $542 million in legal liabilities, a figure that overshadows recent gains made through assets like Doral.

Newsweek reached out to the Trump campaign by email for comment on Tuesday.

This year has seen Trump grappling with multiple financial obligations, including the legal battle with E. Jean Carroll in which he was ordered to pay $88.3 million in damages for sexual abuse liability and defamation across two verdicts. He also owes roughly $460 million to New York State for the fraud allegations.

Further complicating Trump’s wallet are the valuations of his 30 percent stake in two office buildings in New York and San Francisco, Forbes said. Those properties have seen a depreciation in value, attributed largely to the ongoing recovery challenges in downtown areas post-COVID.

Still, Forbes estimates that the former president is sitting on $413 million in cash, down just $12 million from last year.