Under Donald Trump, billionaires made $1.5 trillion, Trump doubled his own fortune. Meanwhile, 40% Americans can’t even save $500
The rich keep getting richer and everyone else just eats dust.
While a significant portion of Americans grapple with dwindling savings, President Donald Trump’s personal wealth has seen an astonishing surge, climbing over $1 billion in just the past year. This dramatic increase brings his estimated net worth to $6.5 billion, marking a substantial jump of $1.4 billion from last year and an even more impressive $2.2 billion since early 2024, according to Forbes’ latest World’s Billionaires list.
The Forbes’ report, which used stock prices and exchange rates from March 1, 2026, also factored in assets like private companies, real estate, and art collections to determine these figures. Trump has largely built this new wave of wealth through his ventures into the cryptocurrency market.
Trump’s billionaire friends have also done well under his terms. Their total wealth jumped by around 22% during 2025, rising from $6.7 trillion to $8.2 trillion, according to an Americans for Tax Fairness (ATF) report based on the Forbes data. The number of billionaires also increased, from 814 to 935. These numbers stand in stark contrast to the financial realities faced by a large segment of the American population that have been highlighted by Fox5DC,
It is alarming to learn that a significant chunk of households are walking on a financial tightrope
A March 31, 2026, survey reveals that nearly 40% of Americans have less than $500 in cash savings. The survey also highlighted that average savings balances have dropped sharply in recent years, with more Americans reporting their savings are shrinking.
The primary culprits, according to those surveyed, are inflation and the rising cost of living. Matt Schulz, a chief consumer analyst at LendingTree, pointed out that “when prices rise and budgets tighten, something has to give, and often that something might be their savings.” He emphasized that this is “certainly the case in many households today.” It’s a tough situation when you’re forced to choose between daily necessities and building a financial cushion.
About one in five people admitted they can’t save consistently, a challenge particularly prevalent among those earning less than $30,000 annually. A majority of respondents, around 34%, explicitly blamed the high cost of living as the main reason they couldn’t save more.
Schulz explained that “when you have to spend more on gas and groceries, for example, it means you have less to put toward other priorities, such as emergency savings, high-interest debt, retirement investments and other financial goals.” This translates to “less of a financial cushion in case of an emergency, and that can be scary.”
Around 29% of Americans say they have less cash savings now than they did a year ago, compared to 25% who have more, and 40% who report their savings are about the same. Furthermore, a quarter of Americans are setting aside less each month than they were a year ago. Among those saving less, 15% are putting away $25 to $49 less, 18% are saving $50 to $99 less, and 16% are contributing $100 to $249 less each month.
The data is also indicative of declining financial stability for many
The situation is even more dire for a significant number of people who have no financial safety net at all. Around 14% of Americans have absolutely no cash savings, a figure that jumps to 32% for those earning under $30,000 a year, 20% for women, and 16% for Gen Zers. Another 32% have some savings, but it’s less than $1,000.
This means that almost half, 45% of Americans, wouldn’t be able to cover more than a month of essential expenses if their income suddenly stopped, and a concerning 23% couldn’t even cover a full week. Schulz described not having any savings as incredibly risky, warning that “it can mean that you’re one unexpected expense away from financial trouble.”
When people do manage to save, the amounts are often modest and inconsistent. Only 22% of people are saving more each month than they were a year ago, and half of that group is increasing contributions by less than $250 a month. Most Americans, around 34%, save less than $100 each month, with only 9% managing to save $1,000 or more.
A full 31% don’t set aside any money for savings in a typical month, highlighting the pervasive difficulty in building a financial cushion. Savings levels also differ significantly across generations, with Gen Zers reporting the lowest peak savings at $9,672, while Baby Boomers had far higher peak balances, averaging $52,605. This disparity really showcases the uneven economic landscape.
Meanwhile, Trump continues to build his and his family’s personal wealth
The president has remained vocal about his ambition to establish America as the “crypto capital of the world,” a vision that is aligning with his own family’s financial successes. His family-led platform, World Liberty Financial, has reportedly raked in an estimated $550 million over the past year by selling stablecoin cryptocurrency tokens. Notably, the Trump family receives a hefty 75% of the net proceeds from these token sales, as reported.
One of Trump’s other assets, Mar-a-Lago, has also seen incredible appreciation. Forbes now values the Palm Beach club at approximately $560 million, which is more than triple its value from 2018. However, the substantial growth in Trump’s wealth, especially his crypto dealings, has drawn criticism regarding potential conflicts with ethical standards for a sitting U.S. president.
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