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Does Donald Trump’s cabinet collectively own more than what one-third of Americans do?

collected by :Molly Tony

In December, the real estate investor purchased President Donald Trump’s childhood home in Queens, New York, for $1.39 million.
Paramount Realty USAThe president’s father, Fred Trump, built the two-story Tudor-style home around 1940, according to Misha Haghani, managing principal at Paramount Realty USA, which coordinated the auction.
Jamaica Estates’ median home sells for $850,000, according to the real estate website Trulia.
Paramount Realty USAThe house is located at 85-15 Wareham Place in Jamaica Estates, in New York City’s Queens neighborhood.
That’s a 53 percent return on investment in one month, excluding real estate fees.

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Does Donald Trump’s cabinet collectively own more than what one-third of Americans do?

It also doesn’t really matter how rich Trump’s cabinet members exactly are.
So even if Trump’s cabinet were all people from the middle class, Schumer’s statement would still be accurate.
Our rulingSchumer said that Trump’s cabinet had more net wealth than a third of the American people.
The U.S. Census Bureau reported that in 2011 the bottom quintile of Americans had a negative net wealth of -$6,029 and the second quintile had a net wealth of $7,263.
Net wealth is how much a person’s assets are worth once you have subtracted liabilities, like mortgage or credit card debt.

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