Eric Trump, the middle child of five, is the son of former president Donald Trump.
Eric Trump, Trump’s son with his first wife Ivana, attended Georgetown University to major in finance and management. Eric was born in 1984.
He then joined the Trump Organization, where he is now executive vice president of development and acquisition, with his older brothers Donald Trump Jr. and Ivanka Trump.
How wealthy is Eric, and how does his fortune stack up against that of his famous relatives? What does it mean? Read on.
Eric Trump Net Worth
American businessman and philanthropist Eric Trump is worth an estimated $350 million. Most people know Eric Trump as Donald Trump’s second son. Eric frequently made appearances alongside his father on “The Apprentice.”
Eric Trump became a prominent supporter of his father’s administration when the latter entered politics and won the 2016 US presidential election. He has also found commercial success and is an integral part of the Trump Organization.
Eric Trump: The Trump Organization’s Resilient Son
As early as 2006, Eric Trump was already an integral element of the Trump Organization. After the market meltdown of 2008, he urged for widespread property purchases, and he himself took advantage of the exceptionally low house prices at the time. At Eric’s demand, the Trump Organization made a concerted effort to acquire as much real estate as possible.
Eric currently serves as the Trump Organization’s executive vice president of projects and acquisitions. He has worked on a wide range of projects, including the overhaul of Miami’s Trump National Doral.
The Trump Organization suffered major losses due to the widespread spread of the Covid-19 virus. Over 500 employees at the National Doral were furloughed in 2020 due to quarantine regulations. Some have speculated that the infection was costing the Trump Organization as much as $1 million per day.
With Eric Trump at the helm, the Trump Organization planned to prioritize high-end hotel developments and steady income from office space going forward. It was also rumored that interests in New York and San Francisco office buildings will be sold. According to multiple accounts, the Trump Organization was able to “weather the storm” of the coronavirus thanks to these measures.
Eric Trump: Philanthropist or Profiteer?
Eric is a very involved philanthropist in his spare time. A prolific fundraiser for Saint Jude Children’s Research Hospital, he established the Eric Trump Foundation. The hospital has a wing named after Eric Trump, who is also on the board of directors. Over $25 million has been donated to the hospital by the Eric Trump Foundation to aid children with terminal illnesses.
Concerns have been raised about how Eric has dealt with nonprofits. Some claim that Eric is “re-donating” money to members of the Trump family, with some of the money being transferred to things like golf courses. The New York State Attorney General’s Office opened a formal investigation into the Eric Trump Foundation in response to these allegations.
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Eric Trump’s Real Estate Portfolio
Eric currently resides in a four-bedroom apartment in the Trump Parc East building, which is located high above Central Park. Furthermore, he owns a duplex on the Trump National Golf Club property in Westchester County, New York.
It was reported in 2018 that Eric Trump and Donald Trump Jr. had spent $18.5 million on a home at the prestigious Mar-a-Lago club. The two brothers used a Limited Liability Company to make the acquisition, with Eric Trump as the company’s president. Trump Junior is the LLC’s vice president. It was their aunt, Maryanne Trump Barry, who first owned the property.
The massive, 1956-constructed property has more than 194 feet of ocean beachfront. In 2004, Maryanne Trump Barry paid $11.5 million for the property through a trust; she later transferred ownership to her nephews. There’s a pool, a sunroom, and a huge library on the property. It is also diametrically opposed to another Trump family property.
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