Don­ald Trump’s net worth has dropped some $600 mil­lion since he was elected. Here’s what has changed.


Atough New York real es­tate mar­ket, a costly law­suit and an ex­pen­sive pres­i­den­tial cam­paign all con­trib­uted to the de­clin­ing for­tune of the 45th pres­i­dent. Af­ter months of dig­ging through fi­nan­cial dis­clo­sures and pub­lic prop­erty records and con­duct­ing dozens of in­ter­views, Forbes now es­ti­mates POTUS’ net worth at $3.1 billion, down from $3.7 billion a year ago, putting him in 248th place on our an­nual rank­ing of the rich­est Amer­i­cans.

The big­gest hit was to Trump’s real es­tate port­fo­lio, which is weighted heav­ily to­ward New York City. Val­ues of sev­eral Man­hat­tan prop­er­ties, par­tic­u­larly those on or near Fifth Av­enue, have dropped, shav­ing nearly $400 mil­lion off his for­tune. Some of his golf prop­er­ties, in­clud­ing ones in Mi­ami, Ire­land and Scot­land, have also de­clined in value, as some would-be guests stayed away, ap­par­ently of­fended by the pres­i­dent’s pol­i­tics and bom­bast. Trump’s cash pile is down $100 mil­lion since last year, af­ter he spent $66 mil­lion on his cam­paign and $25 mil­lion set­tling a law­suit over Trump Univer­sity.

A hand­ful of Trump’s as­sets rose in value in the past year, in­clud­ing the ho­tel-condo tower in Las Ve­gas that he owns with fel­low Forbes 400 mem­ber Phil Ruf­fin (No. 315) and his mi­nor­ity stake in a down­town San Fran­cisco of­fice build­ing, which con­tin­ues to ben­e­fit from the redhot real es­tate mar­ket there. Changes in val­ues are mea­sured against last year’s Forbes 400, which was pub­lished a month be­fore the elec­tion.

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