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Donald Trump falls nearly 300 spots down the Forbes billionaire list after his fortune fell a third from $3.5 billion to $2.4 billion

  President Trump's push to 'make America great again' during his four years in office resulted in a drop of more than $1 billio...

 President Trump's push to 'make America great again' during his four years in office resulted in a drop of more than $1 billion from his net worth, according to the latest Forbes billionaires list.

Trump rankled his political opponents and good government groups when he decided to retain control of his business empire while in office.

According to Forbes, if he had sold everything and put it all into index funds, he would be worth an additional $1.6 billion. Instead, Trump kept the business, placing it the hands of Don Jr., Eric Trump, and an executive at the Trump Organization.

As it stands, his net worth dropped from $3.5 billion when he took office in 2017 to $2.4 billion now.  

Former President Donald Trump has seen his wealth drop to $2.4 billion from $3.5 billion before he took office, according to Forbes billionaires list

Former President Donald Trump has seen his wealth drop to $2.4 billion from $3.5 billion before he took office, according to Forbes billionaires list

The valuations are estimates, and can't be precisely made in part due to fluctuations in the real estate market. Trump also refused while in office to release his tax returns, although prosecutors in Manhattan have obtained eight years of them. 

Trump ranks No. 1,299 on the publication's list of billionaires, down from No. 1,001 last year. Sitting right above him and tied are Roman Trotesnko, a Russian with a logistics empire, T.Y. Tsai, a Taiwanese financier, and John Tyson, the chairman of Tyson foods. 

As his own Forbes bio notes: 'John Tyson is chairman of Tyson Foods, the $40 billion processor that breeds, slaughters and sells meat that ends up in grocery stores across America.'

By comparison, rapper Kanye West is 1750th on the list with a net worth of $1.8billion, while Kim Kardashian has joined the list, and now ranks 2674th.

The analysis of Trump's holdings shows a drop of $217 million at Fifth Avenue retail office space located at 6 East 57th Street, a drop of $195 million at 40 Wall Street, a gain of $102 million at a three-building complex in San Francisco, and a drop of $163 million in hotel management and branding. 

The pandemic that has slammed the global economy continues to take a toll on former President Donald Trump's personal wealth.

Forbes' total nearly matches Trump's estimated at $2.3 billion wealth in a separate analysis last month by the Bloomberg Business Index. That is down from $3 billion before he took office. 

Trump decided after he took office to forego the presidential salary of $400,000, donating it instead.

The coronavirus and government responses have taken a devastating toll on the travel and hospitality industry. Trump's Washington, D.C. hotel, which was able to cash in with big bookings early in Trump's term, has been seen with its once buzzing lobby virtually empty during reporters' visits in recent months.

Amid the turmoil, the former president has at least $590 million in loans coming due over the next four years. 

He decamped to Mar-a-Lago after skipping successor Joe Biden's inauguration, a property where the company was able to boost membership dues after Trump took office and continued to make regular visits.

The Trump Organization tried to sell its D.C. hotel lease in 2019

The Trump Organization tried to sell its D.C. hotel lease in 2019

Mar-a-Lago upped its membership fee and has seen increased earnings

Mar-a-Lago upped its membership fee and has seen increased earnings

The Capitol riot that followed Trump's election overturn effort has taken a toll on Trump's brand, said a real estate expert

The Capitol riot that followed Trump's election overturn effort has taken a toll on Trump's brand, said a real estate expert

The company experienced an estimated $80 million drop in the valuation of holdings in 1290 Avenue of the Americas building

The company experienced an estimated $80 million drop in the valuation of holdings in 1290 Avenue of the Americas building

Trump has dropped to 1299 on the list, a position he shares with a Russian logistics investor, a Taiwanese financier, and the chairman of Tyson Foods

Trump has dropped to 1299 on the list, a position he shares with a Russian logistics investor, a Taiwanese financier, and the chairman of Tyson Foods 

That is one area where income has gone up: it raised $23 million last year, compared to $22 million in 2015, before membership dues jumped to $250,000. 

 But the gains aren't enough to make up for areas where Trump's holdings suffered in commercial real estate and golf courses – where income is off 19 per cent from 2015.

Bloomberg quotes property advisor Ruth Colp-Haber saying Trump is facing a 'triple whammy' of COVID, an aging portfolio, and the aftermath of the MAGA riot. 

That even has brought daily headlines of arrests of MAGA supporters who stormed the Capitol, and boycott efforts against some Republicans who joined Trump's election overturn effort.


The pandemic has also hit demand for commercial real estate – and the value of Trump's stake in a the building at 1290 Avenue of the Americas in Manhattan has dropped by $80 million, to $685 million, according to the estimate, which examined financial disclosures, real estate documents, and loan documents.

His building at 40 Wall Street is valued at $278 million, down from an estimated $550 million before he took office. 

The Trump Organization pulled back after trying to sell its luxury hotel in Washington, D.C. in 2019. It jacked up rates on March 4th, when some believers in the QAnon conspiracy theory believed Trump would be inaugurated for a second term, according to room rates posted online. The company has a long-term lease on the building with the federal government.

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