Here’s how much money Donald Trump spends every year

WHow much does it cost to live like a king? Ask Donald Trump.

Bank records released as part of the former president’s fraud trial, which he lost earlier this year and is now under appeal, indicate that the real estate mogul spends about $1 million a month on personal expenses. But that’s just the beginning. Trump also has an empire to protect — buying real estate, creating developments, servicing debts and settling legal disputes.

Add it all up, and Trump burned through an average of more than $130 million a year, or $11 million a month, from 2010 to the first half of 2019, according to bank records. His spending fluctuated wildly from year to year, exceeding $200 million before he first ran for president, then falling to about $60 million as he settled into the White House. Now, just a month away from reclaiming his throne, Trump is at a crossroads and there is little clarity about how much money he will need over the next four years.

To understand how Trump got to this point, it’s helpful to go back to the Great Recession, when money was tight for almost everyone. The crisis hit Trump hard on projects in Chicago and Las Vegas. But he had an advantage that other developers didn’t have. The Apprentice began in 2004 and offered both entertainment revenue and licensing opportunities. By 2010, Trump was earning nearly $50 million a year from these sources, even more than he earned from his buildings.

So while other developers were making pennies, Trump was spending big. In 2010, he spent $37 million modernizing his aircraft, purchasing a Boeing 757 and modifying it to his liking. It was his biggest cash outlay of the year, accounting for more than a third of his $101 million in total spending. Shortly thereafter, Trump committed another $25 million to a helicopter, with the idea of ​​using it to ferry people a few miles between Miami’s airport and his new golf resort, Trump National Doral. He became more responsible with cash, buying a $130 million note for his tower in Chicago for $48 million and then paying off another loan in Las Vegas. Cleaning up its balance sheet required $75 million in liquidity in the 12 months ended June 30, 2012, its biggest cash outlay in a year in which it burned through $203 million.

Then he went on a building spree. From mid-2012 to mid-2016, Trump squandered $600 million of cash on acquisitions and real estate development, with about 80% of the money flowing out his door. He remodeled the golf resort in Miami and bought two others in Europe. He also transformed the Old Post Office in Washington DC into the Trump International Hotel. To top it off, he spent around $65 million on his presidential campaign.

Building a political movement proved cheaper than building a real estate empire. In the White House, Trump’s development costs fell by more than $100 million per year. But the policy also brought other costs. In 2016, shortly after his election victory, Trump agreed to a $25 million settlement to resolve the legal dispute surrounding Trump University, a blow that led to him taking out a secret loan around the time of his first inauguration .

According to the records, Trump’s cash spending fell to $83 million in the year ended June 30, 2018, the lowest level since at least 2012, and then fell another 30% the following year to about $60 million. Ultimately, most of his cash outlay went to funding various ventures as both the D.C. hotel and European golf courses struggled to turn a profit. With the spread of Covid-19 in 2020, losses multiplied. “I wouldn’t say you’re doing well if you decide to close your hotels and stores,” Trump told a crowd of reporters in the White House briefing room.

But the problems disappeared almost as suddenly as they appeared. Trump sold his loss-making hotel in 2022 for a reported $375 million, leaving other investors in trouble (who defaulted on their debt obligations and ended up losing control of the property). Trump’s golf business, meanwhile, thrived as the world recovered from the pandemic. Donors continued to pump money into Trump’s political groups, sparing him the need to pour even more of his own money into his 2024 presidential bid. He even got other people to help fund his new social media business.

A spokesman for the president-elect, Steven Cheung, ignored a number of specific requests related to this story and instead issued a statement directed at his boss. “President Trump is one of the most successful businessmen in history and then became president of the United States,” he said. “He has built historic and widely recognized estates that have redefined the New York skyline and created award-winning golf courses around the world.”

Shortly before his return to the White House, Trump is faced with an unpredictable financial situation. The Trump Organization’s operations are in good shape, leaner and more profitable than during his first term. With fewer weaknesses in his empire, Trump could potentially use less than $50 million in cash in 2025, making the coming year one of his cheapest in recent memory.

But that assumes everything is going his way, which may not be the case. A $117 million loan on one of Trump’s properties in New York City comes due on July 6, 2025. The president-elect, who still hasn’t refinanced the debt, may have to dig into his own pocket to repay his lender. Legal problems also loom: Trump owes a total of $578 million, including interest, from three lawsuits that are currently being appealed. Losses could leave Trump’s underlings desperately trying to sell or refinance assets during his term as president.