It has been a tough year for President Trump. On top of impeachment and the pandemic, his net worth has dropped an estimated $600 million since last September, to $2.5 billion. That puts him at No. 339 on The Forbes 400, down 64 spots from a year ago.
Blame the coronavirus, which has battered not only the president’s poll numbers but also the very industries in which he holds his biggest assets. Values for office buildings have plummeted. Same with hotels, particularly ones in big cities.
Trump has significant debt against his properties in D.C. and Chicago, both of which appear to be underwater these days. Doral, his golf resort in Miami, is worth an estimated $28 million, after accounting for its mortgages, down 80% in a year.
Read the full article.