President Donald Trump’s net worth took a drop from $ 100 million to $ 2.8 billion last year to the lowest since his presidential campaign, according to a report.
The drop of $ 2.9 billion last June – which Bloomberg Billionaires Index calculated through information from creditors, annual reports, property records and financial disclosure– marks the second consecutive year of decline and is largely attributed to the lower revenue on its properties and golf courses since becoming president.
Bloomberg, who started tracking Trump’s net worth in 2015, reported on Thursday that the biggest losses, worth $ 220 million, came from the Trump Tower in downtown Manhattan and adjacent to 6 E. 57th St., who lost NikeTown as a tenant.
Trump’s 16 golf courses and resorts plummeted by $ 70 million and, together, are worth about $ 650 million, according to the report.
Trump Organization spokeswoman Amanda Miller criticized Bloomberg’s methodology when estimating the value of Trump’s buildings in Manhattan, saying that the neighborhood-wide data used reduced its value. “The location of a property affects the rents it can get,” Miller told the media.
It is not the first report that the Trump presidency has not helped his businesses, of which he has refused to divest, unlike former presidents. The recipe for Trump’s golf courses was plan, according to its financial disclosure report released last month.
The president did not make the Bloomberg Billionaires Index of the 500 richest people in the world, from American businessman Jeff Bezos to number one, with $ 136 billion net worth, to Swedish real estate entrepreneur Fredrik Lundberg, to number 500 and $ equity 4.01 billion. . The group’s wealth has increased 9.4% since last year.
Trump said his net worth is much higher. In June 2015, he stated that his net worth was around $ 8.7 billion, and a month later he presented financial disclosure forms that reflected his net worth exceeding $ 10 billion.