The Strategist

Donald Trump's wealth loses $ 600M over the year

09/09/2020 - 03:46

Donald Trump lost $ 600 million in a year as his wealth fell by almost 20%, to $ 2.5 billion. Almost all of his assets fell by millions of dollars, most of all - a golf club in Miami and buildings in New York.

Gage Skidmore
Gage Skidmore
The fortune of US President Donald Trump fell by $ 600 million in a year, according to the American Forbes. The newspaper published the annual ranking of the 400 richest Americans, in which Trump dropped by 64 lines in comparison with the 2019 list.

Trump lost almost 20% of his wealth, which, when compiling the rating, was estimated at $ 2.5 billion. The main reason is the novel coronavirus. Trump's main asset is real estate, and the value of office buildings and hotels has collapsed due to low demand. Since Trump became President of the United States, his wealth has declined by about $ 1 billion - in the ranking of the richest Americans in 2016, his assets were estimated at $ 3.7 billion.

The biggest drop in value for the year was shown by the Trump National Doral golf club in Miami - by $ 114 million. Now it costs only $ 28 million. One of Trump's favorite golf courses in Mar-a-Lago in Florida is the only one of his golf clubs, which has risen in price by $ 10 million since last September.

Real estate in New York, which is also part of the portfolio of the US President, has dropped significantly. Thus, the building at 1290 on 6th Avenue in Manhattan, in which Trump owns 30% of the office and retail space, lost $ 109 million in price. Trump Tower fell by $ 70 million, and the Wall Street building, which is on lease from Trump until 2059, fell by about $ 65 million. The cost of the building adjacent to Trump Tower has decreased by $ 34 million, and the Trump Park Avenue tower, in which President owns 17 condominiums and retail space, by $ 32 million. Trump Parc, Trump Plaza and Trump International Hotel & Tower also fell in price by several million in New York. Only Trump World Tower has risen in price by $ 2 million.