Expensive Presidential Campaign, Drop in Real Estate Values To Blame For Decreased Net Worth Estimate
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On the other hand (at least according to Forbes), the last year has been rough for the President from a financial perspective.
According to Forbes, President Trump's fortune has dropped by $600 million over the past year, taking him down to a total net worth of $3.1 billion.
Forbes, which said that it was very thorough in assessing President Trump's new net worth, blamed a number of factors on his declining fortune, including:
1) Decreased value of real estate holdings (especially in New York)
2) Expensive Presidential campaign
3) Settled Trump University lawsuit
The Presidential campaign reportedly zapped $61 million from Trump's finances, while the lawsuit cost an additional $25 million to settle.
In terms of President Trump's real estate holdings, those have reportedly dropped due to a mixture of mild softness in the New York commercial real estate market and a tendency for some to stay away from Trump-affiliated properties.
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The flip side to all of this is that if President Trump can successfully pass his tax reform bill, his businesses will benefit tremendously as a result.
Source: Forbes.com - How Donald Trump's Fortune Fell $600 Million in One Year
Filed under: General Knowledge