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Donald Trump’s Net Worth falls $200 Million Since Election

Forbes estimates that president Donald Trump is worth $3.5 billion — $200 million poorer today than he was before the election and 220 spots lower, to number 544, on the worldwide rankings.
According too Forbes, forty percent of Donald Trump’s fortune is tied up in Trump Tower and eight buildings within one mile of it. What happens in that micromarket does more to affect the net worth of Donald Trump than anything else in the world.
Lately, the neighborhood has been struggling (relatively speaking). Net operating profits have fallen at Trump Tower. Nike, the lone tenant at the Trump-owned Niketown, just signed a reported $700 million deal in December for a spot a few blocks south, suggesting its days at its current location may be numbered.
Trump’s cash pile took a hit as well. Public records show that he donated $66 million to his presidential campaign, 19% of its total budget. Ten days after he won the election, he settled a lawsuit over Trump University, which prosecutors say swindled millions from its students, for an additional $25 million. Assuming Trump sold off all of his stocks during last year’s campaign, as he has claimed, the president likely missed out on the “Trump rally” that has lifted the stock market roughly 10% since his election.

The average billionaire saw his or her wealth grow by 16% since last year’s Billionaires list; Trump’s fell by 22% over that same time period.




Written by PH

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