Fred Trump Net Worth
Fred Trump net worth: Fred Trump was an American real estate developer who had a net worth equal to $200-300 million at the time of his death in 1999. That's the same as around $300-$450 million today after adjusting for inflation today. Fred's net worth was estimated at $200 million in 1982, which is the same as around $500 million today.
Fred Trump was born in New York City, New York in October 1905 and passed away in June 1999. He had five children with his wife Mary Anne MacLeod including Donald Trump. Fred Trump started his career at the age of 15 with his mother Elizabeth Christ Trump in home construction and sales. In 1927 their development company was incorporated as Elizabeth Trump & Son. The operation built and managed single-family homes in Queens as well as barracks and garden apartments for the United States Navy near major shipyards on the East Coast and more than 27 thousand apartments located in New York City.
In 1954 Fred Trump was investigated by a U.S. Senate committee for profiteering. In 1971 he made his son Donald the president of Trump Management Company and in 1973 the family was sued by the U.S. Justice Department's Civil Rights Division in violation of the Fair Housing Act.
Will and Estate: In 1976, Fred established $1 million trust funds for each of his five children and three grandchildren who were alive at that point. The trusts also received annual dividends from the profits produced by Fred's real estate empire.
Fast forward to 1993 and each of those trust funds controlled $35 million.
Fred Trump passed away on June 25, 1999 at 93 years old. Upon his death, after taxes each child received $20 million. According to a 2018 New York Times report, trust funds established by Fred in the 1960s technically made each of his children, including Donald, a millionaire before they were teenagers. The Times exposé claimed that Donald ultimately received $400 million (after adjusting for inflation) from the Fred Trump business empire during his lifetime. That amount includes a reported $60 million in loans to Donald that were never repaid.
|Net Worth:||$200 Million|
|Date of Birth:||Oct 11, 1905 - Jun 25, 1999 (93 years old)|
|Place of Birth:||New York City, United States|
|Profession:||Head of Fred Trump Organization|