Bloomberg Billionaires Index: Trump's fortune drops by $ 700 million
The Bloomberg Billionaires Index revealed that the net worth of former US President Donald Trump has now decreased to $ 2.3 billion, from $ 3 billion when he took office in 2016, bringing the loss to $ 700 million.
The report of the Bloomberg Economic Agency, Wednesday, recorded that the Corona epidemic, which Trump had pledged to eliminate, turned into a weakening force for his company, and the riots that led to his second impeachment trial also caused a weakening of his trademark.
The fallout from the Capitol attack has damaged Trump's firm's relationships with brokers and lenders, and is owed more than $ 590 million in loans over the next four years, more than half of which are personally guaranteed by Trump. And his scrap yard from failed businesses is also getting more crowded, according to the agency's description.
The report added that Trump's financial disclosures and loan documents, his interviews with former executives and industry analysts, and another set of battles and legal investigations reveal the extent of the problems that Trump and his company could face.
The Real Estates is 75% of his wealth
The report presented the fate of Trump's various investments in real estate, aviation, entertainment, golf, resort, casinos, beverages, universities and restaurants. According to the details, commercial real estate, which accounts for about three-quarters of Trump's net worth, took a heavy hit over the past year, says Ruth Kolb Haber, who manages a consultant for the Wharton real estate consultancy.
The report gave an example of this with Trump's office properties in New York and San Francisco, as well as the two skyscrapers in the two cities, which have declined by about $ 80 million since 2019.
With the appreciation of the investigative team, whose data Trump declined to comment, the former president had previously risen from similar pitfalls. The post-pandemic economic recovery may re-inflate the value of his assets, as he can follow the series of bestsellers in which he invests, return to television, or resume competition on social media platforms that have hidden themselves from him. Either way, Trump can make the most of all these losses by using it to reduce tax bills, as he has done for years, as the report indicates.
