Fred Trump was an American real estate developer and businessman who died in 1999 with a net worth of $200-300 million. After adjusting for inflation, that equates to around $300-$450 million today.
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Fred Trump made money by developing residential properties. Fred began his career in home construction and sales with his mother, Elizabeth Christ Trump. In 1927, they formed E. Trump & Son, a real estate development firm.
Fred established $1 million in trust funds for each of his five living children and three grandchildren in 1976.
Fred Trump died on June 25, 1999, at the age of 93. After taxes, each of his children received $20 million upon his death.
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According to a 2018 New York Times report, trust funds established by Fred in the 1960s effectively made each of his children a millionaire before they were teenagers, including Donald.
Trump donated $2,500 to New York mayor Robert F. Wagner Jr.’s re-election campaign in 1961, which helped him gain approval for the construction of Trump Village, a large apartment complex in Coney Island.
The $70 million project was completed in 1963-64. It was one of Trump’s largest and final major projects, as well as the only one bearing his name.
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