Two names that easily stand out from the millions of names in America are Oprah Winfrey and Donald Trump. One is the current president of the most powerful nation on earth and the other is one of the most powerful voices in the media industry worldwide. Aside from being both powerful, one other unique trait both share is the fact that they are very rich. So, who’s richer Donald Trump or Oprah Winfrey? Sit back, relax and scroll through this piece as we take you on a journey through the lives of Oprah and Trump.
Who is richer between Donald Trump and Oprah Winfrey?
Donald Trump is currently worth about $3.1 Billion while Oprah Winfrey is said to be worth about $2.5 Billion. It, therefore, suffices to say that Donald Trump is quite richer than Oprah Winfrey. Trump has made most of his wealth via investments in the New York Real Estate market where his footprints and handprints are quite visible on the skyline of New York. This is aside from his investments in clubs and Golf courses. He also has the Trump Winery among other viable investments. Oprah, on the other hand, has seen her stock rise over the years with the massive success of her hit TV show “The Oprah Winfrey Show” which aired for a while till 2011.
How Did Donald Trump Make His Money?
Donald Trump was elected to become the 45th president of the United States of America following a tightly contested election against Democratic candidate Hillary Clinton. He is recorded to have boasted being worth more than 10 Billion American Dollars. However, the Forbes list places his worth to be around $3.1 Billion. This makes him the 259th richest person in America. Even though he fell by about 11 spots and dropped 138 points since he made known his intention to be president in 2015, he is still one of the richest presidents America has ever had.
His Family Fortune
Trump came from a very rich family. His father Fred Trump made a lot of money on the real estate industry by building and selling homes for American soldiers and their families during the Second World War. By 1971, he assumed control of the rental company owned by his father which he renamed as the Trump Organization. He centered his energy on the real estate investments during this time with a focus on the New York Metropolitan area. he hit a breakthrough in 1980 when he partnered with the Holiday Inn, Corp to build a $250 million hotel and Casino complex which was named Harrah’s at Trump Plaza.
Trump would eventually buy out the entire project and get it renamed the Trump Plaza Hotel and Casino. After the successful launch of the Trump plaza, Trump bought yet another property located in the Atlantic City for $320 million from Hilton Hotels. He renamed this property the Trump Castle.
What Challenges Did Trump Face
In New York, Trump bought the Plaza Hotel back in 1988 for about $400 million and would go on to spend about $50 million on renovation and decorations. Even though it seemed like nothing could affect his steady but rapid rise back in the 80s, he was soon to become a victim of city bylaws.
When he bought an apartment building and a Hotel in Manhattan, his desire to have a large condominium tower was cut short by the rent control program of the city. By 1985, he made known his plans for an $88 million complex located in the western part of Manhattan which was named the Television City. He was once again faced with lengthy approval process as well as community opposition thus putting an end to his vision.
The combination of these two failures was just the beginning of the woes he was to face in business. in 1990 when the decline in the real estate market started, several Trump’s real estate investments began affecting the balance sheets.
Trumps Bankruptcy Episode
In the early 1990s, Trump’s meteoric rise appeared to hit a wall. The American economy began to slow down and the economy of New York failed. This lead to the dwindling of Trump’s fortunes. He soon found himself in a position where he could not pay interest on the debts he had gathered to finance his projects. As at that time, his annual loan payments were put at about $300 million. His debt was about $975 million and the Trump Organization owed about $9 billion.
To avoid filing for bankruptcy, he met with four out of his major lenders. And it was a common feeling among them all that if they foreclosed on his properties, they all would lose.
In light of this, Trump was able to get an additional $65 million loan which was all he needed to keep his businesses afloat. In addition to this, the banks also agreed to defer for about 5 years. Some of his debts were however paid using proceeds from the sales of some of his assets such as his airline company and a yacht. He also turned his Florida beach house into a resort and sold his controlling stake in the Plaza Hotel.
The Aftermath Of The Bailout
The bailout package procured by Trump was enough for him to take two more mortgages on his properties. Trump had become a leverage expert having dealt with bankruptcy four times. Trump would use the privilege given to him by his lenders to build up his rents while purchasing other businesses. The early part of the 1990s was a very troublesome time for the Trump Organization. For instance, back in 1991 and 1992, two of his Atlantic City casinos filed for bankruptcy thus giving them room to restructure their debts.
The Bounce Back
Things began to turn around for the better in 1995 when Trump established the Trump Hotels and Casino Resorts and went public with the company. He would eventually sell about 13 million shares valued at $32.50 per share in 1996 for a gain of $295 million on his initial ownership stake on the company. In addition to this, one of Trump’s initial investments known as the Grand Hyatt building became incredibly successful. It is reported that he sold his stack back to Hyatt for about $140 million. In 1995, he bought the old Bank of Manhattan Trust building at 40 Wall Street. Eventually, the building would go on to become one of his most famous properties. Trump claimed that he bought the building for about a million dollars.
How Did Oprah Winfrey Make Her Money?
Oprah Winfrey is an American talk show host, media proprietor, and actress. She gained enormous popularity via her talk show the highest-rated TV show in human history “The Oprah Winfrey Show.” She is reputed as the queen of media and she has collaborated with several successful people in the world such as Ellen Degeneres who is also a legend in the industry. By 2020, Oprah is estimated to be worth about $3.5billiion thus making her the richest female TV host in history.
Who Is Oprah Winfrey?
Born in Kosciusko on the 29th day of January 1954, Oprah had quite a challenging childhood while growing up. She made known the fact that she was sexually abused by several men some of whom were her mother’s friends. She would, later on, move to Nashville to live with her father Vernon. Winfrey is a graduate of the Tenessee State University after which she began work in the media industry. She got her first real job when she hosted ‘People Are Talking’ in 1976.
Her Big Break
Oprah would hit her big break in 1986 when she started her TV show ‘The Oprah Winfrey Show.’ This show would go on to prove to be one of the most successful and highly watched shows on TV. She also maintained a reputation as a strong role model for women. Her show emphasized spiritual topics as well as the aspect of taking responsibility for one’s life. She believes that it is not enough to change your circumstances as you also need to change the way you see life.
What Is The Relationship Between Trump And Winfrey?
Back in 2011, Trump and his family made an appearance on the Oprah Winfrey Show. However, just seven years later the hitherto beautiful relationship appeared to have gone sour. This is not entirely a new thing as Trump’s opinion of people he once thought well of suddenly changed with pressure from his role as president.
Donald Trump and Oprah Winfrey are without doubt icons. Through hard work and determination, they have been able to build their dreams into empires worth billions of dollars. Their influence does not end there as they have also been able to grow in global relevance in their fields of endeavors. Trump remains richer though but they both look to remain rich for the rest of their lives.
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