Former President Donald Trump, with an estimated net worth of $5.6 billion from his real estate holdings and stake in Trump Media & Technology Group DJT, likely made his recent shift at a Pennsylvania McDonald's MCD a one-time event rather than a potential new career path.
Here's a look at how much Trump could make working at a Pennsylvania McDonald's and how it compares to other wealth sources.
What Happened: Trump worked a short stint running the French fry station and helping with drive-thru orders during a campaign stop in Pennsylvania ahead of the 2024 presidential election.
"I'm looking for a job and I've always wanted to work at McDonald's," Trump said in a video at the restaurant
The franchised McDonald's restaurant in the video that Trump briefly worked at was located in Feasterville-Trevose, a small city of 6,525, according to the 2000 Census.
While Trump won't be taking a job at McDonald's anytime soon, the event—seen as a publicity move in a key swing state—could spark further debate on minimum wage ahead of the 2024 election.
The minimum wage in Pennsylvania is $7.25 an hour. McDonald's workers in Pennsylvania make an average of $13.22 an hour, according to hiring website Indeed. Ziprecruiter lists an average wage of $11 to $15 for McDonald's workers in the state, with shift managers averaging $14 to $18 an hour.
Based on an average wage of $13.22, a McDonald's worker would make $528.80 per week and $27,497.60 annually based on 40 hours worked per week. This means the job that Trump was doing would likely earn him less than $30,000 per year, based on a full year at the fast-food location in Pennsylvania.
Earning less than $30,120 for a single person in Pennsylvania qualifies for some level of assistance from the state.
Compare the $27,497.60 to the annual $400,000 salary of the President of the United States, and Trump would have to work 14.5 years at this McDonald's location to equal the amount he makes per year while in the White House.
Recent financial disclosures from Trump have also revealed taking home a pension of $90,776 in 2023 as a one-time member of the Screen Actors Guild, as reported by the Associated Press.
Trump also reported income from his NFTs, selling bibles, sneakers and collecting royalties from books.
The former president has been a vocal fan of McDonald's food over the years, sometimes asking members of the White House kitchen staff to make similar menu items during his time in office. Trump also ordered food from McDonald's and several other fast-food restaurants to feed the Clemson University football team, which visited the White House after winning an NCAA Football National Championship.
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Why It's Important: Trump's weekend stop at McDonald's has put the restaurant chain into the national spotlight of politics, prompting a statement from the company to employees.
"McDonald's does not endorse candidates for elected office and that remains true in this race for the next president. We are not red or blue – we are golden," McDonald's said in an internal message, as reported by Bloomberg.
The Pennsylvania restaurant where Trump worked was owned by a franchise and not the restaurant company.
Along with pushing McDonald's into the political forefront, Trump's visit may also put the debate on minimum wage back into the spotlight.
McDonald's workers nationwide have long advocated for higher wages, with the “Fight for $15” being a key demand during strikes at restaurants across the country.
Trump was asked about raising the minimum wage during his weekend visit to the Pennsylvania McDonald's location.
"Well, I think this. These people work hard," Trump said, as reported by the Boston Globe. "They're great. And I just saw something – a process that's beautiful."
During a 2020 presidential debate with Joe Biden, Trump said he would consider raising the minimum wage if he won re-election, but openly said that raising wages would hurt businesses.
"How are you helping your small businesses when you're forcing wages?" Trump previously said, as reported by Politico. "What's going to happen and what's been proven to happen is when you do that, these small businesses fire many of their employees."
Biden, who supported raising the minimum wage, said there was no evidence that businesses go out of business when wages are raised.
Trump's stop at the McDonald's in Pennsylvania also continues to put the key swing state in the spotlight. Both Trump and Harris have made frequent visits to the state, vying for the 19 electoral college votes in the 2024 election. The state has voted for the Democratic presidential candidate in six of the last seven presidential elections, with Trump the first Republican to win the state in 2020 since the 1988 election.
MCD, DJT Price Action: McDonald’s stock is down 1% to $314.92 on Monday after hitting new 52-week highs of $317.90 earlier in the intraday session.
Trump Media & Technology DJT shares are up 4% to $30.72 on Monday. The stock is trading higher due to several positive pieces of news involving the former president.
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Image created using artificial intelligence via Midjourney.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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