Trump’s wealth takes tumble during presidency

19 March, 2021 12:00 AM printer

Trump’s wealth takes tumble during presidency

Donald Trump’s net worth dropped by about $700m to $2.3bn (£1.65bn) during his time as president, according to the Bloomberg Billionaires Index.

The Covid-19 pandemic hit his fortunes hard, with Trump’s office buildings, branded hotels and resorts losing revenue and falling in value, reports BBC.

His fleet of planes and golf courses have also seen drops in their value. Trump is currently under a criminal investigation into his financial affairs and his family business. Bloomberg analysed financial documents and other filings from May 2016 and January 2021 to calculate Trump’s wealth before and after he became US president.

Trump’s commercial real estate accounts for about three-quarters of his net worth. The office towers he owns or co-owns have seen big drops in valuations as more people work from home, a trend that could last in the long term.