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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