Trump’s Fortune Has Declined by $300 Million in the Last Year
No one knows exactly how much money Donald Trump has. You could take his word for, but, as always, that would be a risky proposition. While the president claimed he was worth $10 billion, Bloomberg estimated the amount at closer to $3 billion.
And that number of $3 billion has taken a significant hit. According to Bloomberg, Trump has lost $300 million from his personal fortune over the last calendar year.
The first place Trump lost money is in his real estate investments. The president has buildings all over the world but the ones located in New York City have been hit the hardest.
According to Bloomberg, “declines in the value of the president’s office building at 40 Wall Street, his iconic Trump Tower on Fifth Avenue and properties owned jointly with Vornado Realty Trust accounted for some of the biggest hits to his net worth.” It is unknown at the moment how much further the value of his New York City properties could continue to fall.
Trump, and avid lover of golf, has also invested in golf courses around the country. These have also taken a hit over the last year, though that is not necessarily related to the COVID-19 pandemic. Caleb Melby and Tim Maloney write, “His golf courses also lost value amid a broader slide in prices, as fewer young people take up the sport.”
Of course, New York Attorney General Letitia James is currently investigating Trump’s tax returns. This future tax fight could futher impreril the president’s fortune.