Trump’s US$3 billion fortune doesn’t qualify him for Bloomberg’s list of the world’s 500 richest people, which bottoms out at about US$4 billion. The collective wealth of that group has jumped 12% to US$5.39 trillion this year, according to the Bloomberg Billionaires Index.
"Instead of paying $16.4 billion in taxes at the 21 percent statutory corporate tax rate," ITEP noted, "these companies enjoyed a net corporate tax rebate of $4.3 billion." Under TCJA, Trump’s new tax law cuts the corporate tax rate from 35% to 21%. And some big businesses that did end up paying tax in 2018 paid far less than that.
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And that wasn’t a monthly blip. In the third quarter, America’s deficit with China soared to $106 billion, up from $93 billion in the same period last year.
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It comes despite setbacks at his family company, including the cancellation of two new hotel chains and reduced business at his Mar-a-Lago resort in Florida and seven golf courses. Trump’s higher net worth shows how reliant his wealth has become on Steven Roth, a friend who leads Vornado Realty Trust.
"Instead of paying $16.4 billion in taxes at the 21 percent statutory corporate tax rate," ITEP noted, "these companies enjoyed a net corporate tax rebate of $4.3 billion." Under TCJA.
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Trump’s Net Worth Rises To $3 Billion Despite Business Setbacks.. Trump’s $3 billion fortune doesn’t qualify him for Bloomberg’s list of the world’s 500 richest people, which bottoms.
Trump’s fortune drops $1 billion since last year, Forbes says. That’s despite the fact that Trump had claimed during his election campaign that he was worth "in excess of $10 billion.
President Donald Trump’s net worth rose to $3 billion, a 5% gain over the past year, thanks to a jump in the value of an office-building deal he once sued to prevent. Trump’s Net Worth Rises to $3 Billion Despite Business Setbacks | Newsmax.com