Donald Trump Net Worth: Why the President’s Worth Keeps Falling
Donald Trump loves talking about money. He also loves bragging about his own wealth. But even though Trump is definitely a billionaire, he may not be quite as wealthy as he wants you to think he is. Experts have made reliable estimates of Donald Trump’s net worth. And they’ve found something pretty interesting: Donald Trump’s net worth has fallen since he became president.
Curious about what’s going on? Read on to find out exactly what’s going on with Donald Trump’s net worth.
Donald Trump’s net worth is currently $2.8 billion
Bloomberg reported in May 2018 that Donald Trump’s net worth had fallen to $2.8 billion, its lowest point since Trump began to campaign for the presidency. A Trump net worth of $2.8 billion represented a decline of $100 million over the previous year. Bloomberg attributed the slide to falling revenue at Trump Tower and various golf courses.
The biggest declines — totaling $220 million — came from adjacent buildings in midtown Manhattan. One is a Trump-owned building that previously housed a Niketown store. And the other was Trump Tower, which saw lower occupancy and therefore brought in less income. The Trump Organization’s 16 golf and resort properties also dropped in value by $70 million. And Trump’s Doral, Palm Beach, and Mar-a-Lago clubs saw falling revenue.
Trump often says he’s wealthier than he really is
Donald Trump has a long history of inflating his net worth in his own claims. And the president’s boasts about his net worth still aren’t entirely truthful. (At least not based on publicly-known information.) Money reports that “During his campaign, Trump said he had a net worth of $10 billion.” However, “That claim was quickly debunked with reports reflecting his net worth was closer to around $3 billion or $4 billion.” And back when he began campaigning, Trump said he was worth $8.7 billion. At the time, Bloomberg assessed his net worth at $2.9 billion.
Trump’s net worth could be higher than the figures estimated by Bloomberg if he owns assets or receives payments that aren’t publicly known. (Or if he sells properties at values above market averages.) However, the president’s net worth could also be lower if Trump has undisclosed debts or partners. (Or if his companies are unprofitable.) And Time notes that “Though Trump has dismissed Bloomberg’s analyses in the past, theirs is not unique: in October 2017, Forbes reported that Trump’s net worth had fallen by $600 million over the previous year.”
Many Trump properties have depreciated since he became president
Time also notes that many Trump properties have depreciated in value since Donald Trump became president. Surprisingly enough, among the Trump properties to report losses is Mar-a-Lago, Trump’s “winter White House.” Trump has held high-profile meetings at the property since his presidency began. And he’s also begun charging higher membership fees at Mar-a-Lago.
Money notes that Forbes attributed the cline in Donald Trump’s net worth “to a struggling retail real estate market and Trump’s polarizing brand.” Several hotels dropped Trump’s name from their branding as their properties became targets for protests. The licensing losses cost Trump about $50 million drop in revenue.
Money points out another interesting phenomenon that affected Donald Trump’s golf courses. Trump-branded golf properties in locations that Trump won the 2016 election saw a revenue increase of more than 5%. But golf courses in places where he lost the election saw a 4% fall in revenue.
He’s still the wealthiest president in American history
Time reports that despite the fluctuations in Donald Trump’s net worth, he still remains, by many estimates, the wealthiest president in American history. As president, Trump receives a quarterly salary of $100,000. He pledged to donate that salary each quarter. Money reports that so far, he has kept that promise. Recipients of his donations include the Department of Education, the Department of Interior, and the Department of Health and Human Services.
Though Donald Trump’s net worth has decreased since he took the oath of office, Axios notes that Trump has managed to profit from his presidency. The publication reported mid-2018 that “Republican political campaigns and U.S. government agencies have spent more than $16 million on Trump properties for events, lodging, meals, rounds of golf and more since Donald Trump launched his presidential campaign in 2015.”
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