The fortune of the 45th US President Donald Trump during his tenure as head of state decreased by a quarter – from $ 3 billion to $ 2.3 billion. This assessment was published by Bloomberg before and after the presidency.
The most severe blow to the businessman was the coronavirus pandemic and related restrictions. The fact is that Trump’s key assets are resorts, hotels and office buildings, the value of which has significantly decreased.
Thus, commercial real estate lost 26 percent in value from 2016 to 2021, while revenues from the resort business decreased by 42 percent from 2015 to 2020. Separately, it is indicated that the storming of the Capitol, which some supporters of the current president went to, significantly spoiled his relations with brokers and creditors. For example, foreign Deutsche Bank and Signature Bank refused to cooperate.
In January, the publication noted that the Trump Organization’s total revenue for 2020 was $ 278 million. This is 38 percent less than in 2019. Golf revenues in the UK and Ireland plummeted by two-thirds, and sales at Trump Tower stores in New York plummeted fivefold.
Back in August last year, Bloomberg estimated Trump’s fortune at $ 2.7 billion. Thus, in five months, the ex-president lost another 400 million.