Donald Trump has become * much * less wealthy as president

“I said to a friend of mine, a very rich friend, I said, ‘You know, I bet you it cost me $ 2-3 billion and every penny is worth it'” Trump told Fox News in 2018. “I don’t need the money and it’s worth every penny because I do so much for the country.”
And this in 2020: “[It] cost me billions of dollars to be president of the United States. “

Trump is now worth $ 2.4 billion, according to Forbes. That net worth puts him at No.1299 on Forbes’ 2021 billionaire list – up from 1,001 in 2020.

According to Dan Alexander of Forbes, Trump bears much of the blame for his declining fortune. As Alexander writes:

“Every investor at some point has kicked themselves for holding an asset for too long. Perhaps none, however, made such a monumental miscalculation. By refusing to give up his portfolio when he took office, Trump has bogged down his presidency with ethical issues for years, while he also missed a chance to cash in on a market boom he helped fuel. propel.

“If he had sold everything on day one, paid the maximum capital gains taxes on sales, then put the proceeds into a conflict-free fund followed by the S&P 500, Trump would have ended his estimated presidency at 1 , $ 6 billion richer than it is today. “

Rather than divest himself of his assets when he was elected president, Trump instead put things in a trust managed by his two oldest sons, Donald Trump Jr. and Eric Trump. His eldest daughter, Ivanka, on the other hand, sold all its main assets – including all common stocks – when she joined the White House. According to CREW, a government watchdog, Ivanka and her husband Jared Kushner “brought in between $ 172 million and $ 640 million in outside income while working in the White House.”
Trump Net Worth is not a theoretical conversation about how many billions he is worth. We know detail New York Times Reports about Trump’s tax returns that the former president is personally obligated to pay more than $ 400 million in loans that mature over the next few years and that his sources of income – including his TV shows – reality to success and its branding efforts – dwindle. (Alexander once wrote that Trump has over $ 1 billion in debt.) That, plus the fact that Trump companies generated 40% less revenue in 2020 than in 2019 suggest that the former president’s current financial situation is far from ideal.

Now, that doesn’t mean Trump is going to go bankrupt anytime soon. He still has considerable assets and could sell a bunch of properties he currently owns if he needed to pay the bills. (Of course, selling Trump’s properties would be mortifying and embarrassing for the ex-president.) It’s also possible that the financial institutions that hold Trump’s loans are willing to roll them over for a few years or renegotiate the terms.

In short: Trump is not on the verge of financial ruin. But he is in a decidedly tense and precarious financial moment, with declining income, few alternative sources of income currently available and significant debts falling due.

About Douglas Torres

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