The fortunes of the candidates running for the 2024 US presidential race

Nov 13, 2023 - 23:41

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The fortunes of the candidates running for the 2024 US presidential race

To understand what is happening in the American political scene, it is necessary to follow the money. It is not only the money that flows to support election committees and campaigns, but also the wealth possessed by the candidates.

Businessman Vivek Ramaswamy became close to being a billionaire due to his obsession with making financial gains over principles.

Nikki Haley made the decision to leave her position within the Trump administration due to the critical financial difficulties her parents were facing, while Tim Scott himself, through his own efforts, went from being a shoemaker to building a small real estate empire.

Politicians Joe Biden, Chris Christie, and Ron DeSantis have used their fame to make a fortune by writing books, giving speeches, and providing services.

Donald Trump, who inherited a real estate fortune worth $2.6 billion, is still dissatisfied with the size of his wealth to the point that he continues to lie about his net worth even during his trial on charges of inflating his wealth.

The total wealth of the 16 candidates is about $4 billion, much less than the 2020 candidates, when billionaires Michael Bloomberg and Tom Steyer joined the presidential race.

The list of candidates for the 2024 elections includes a group of wealthy people, including one billionaire, two millionaires who each have a net worth of at least one hundred million dollars, and a larger group of millionaires who each have assets of at least one million dollars.

Donald Trump

77 years old Former President of the United States, Republican, Net worth: $2.6 billion

The former president has an incredibly large fortune, partly due to the more than $500 million fortune he inherited from his father, Fred Trump. The young Trump invested this money in various projects, including casinos, hotels, office buildings, palaces and other assets.

Vivek Ramaswamy - 38 years old

Businessman, Republican, Net worth: $880 million

Businessman Ramaswamy has no political experience and made his fortune by investing in pharmaceutical companies. He began his career on Wall Street, investing in stocks of biotechnology companies.

He then founded Roivant Sciences in 2014 with the aim of acquiring promising drug R&D projects that major pharmaceutical companies ignore or prefer not to invest in.

Today the company's market value is about $7 billion, and Ramaswamy has made about $150 million from the sale of shares.

Wug Burgum - 67 years old

Governor of North Dakota, Republican, Net worth: At least $100 million

Burgum's wealth stems from Microsoft's acquisition of Great Plains Software in 2001, a software company he led as CEO.

His share in that deal amounted to shares worth $100 million in Microsoft.

Burgum's portfolio now includes a diverse range of assets, including homes and farmland across the country, a real estate development company in North Dakota, and private equity investments. It is also possible that he took steps to transfer some of his wealth into trusts set up for the benefit of his heirs.

Robert Kennedy Jr. 69 years old

Lawyer and heir, Independent, Net worth: $15 million

Although Robert Kennedy Jr. inherited the famous Kennedy name, he did not inherit a large fortune from the family.

As one of Joe Kennedy's 29 grandchildren, he owns a share of family funds dating back to 1926, including a stake in the Wolf Point real estate development in downtown Chicago.

However, the majority of Kennedy Jr.'s wealth comes from his work as an environmental lawyer, writer, and personality known for his controversial stance on vaccines.

Chris Christie - 61 years old

Former Governor of New Jersey, Republican, Net worth: $15 million

Of all the current presidential candidates, Christie stands out as one of the best at taking advantage of the income-generating and money-making methods usually associated with political figures.

These methods include writing books, giving speeches, providing consulting services, and serving on boards of directors.

Since leaving political office in 2018, his net worth has quadrupled, thanks to the success of his law firm and consulting business, as well as his job at ABC News and giving a range of high-paying speeches.

Joe Biden - 80 years old

President of the United States, Democratic, Net worth: $10 million

Middle-class Joe Biden is very wealthy, and like most people over 80, most of his money is tied up in his real estate holdings, including a summer home in Rehoboth Beach, Delaware, worth an estimated $4.5 million.

Nikki Haley - 51 years old

Former Governor of South Carolina, Republic, Net worth: $8 million

Francis Suarez - 46 years old

(withdrew from the presidential race) Mayor of Miami, Republican, Net worth: $6 million Suarez served as Miami city commissioner 12 years ago, when he was $99,000 in debt. 12 years later, his fortune had jumped to $6 million.

Mike Pence - 64 years old

(withdrew from the presidential race) Former Vice President of the United States | Republican | Net worth: $4 million