According to the Bloomberg Billionaire Index, Donald Trump’s net worth dropped by about $700m to $2.3bn during his time in the Oval Office.
Bloomberg analyzed financial documents and other filings from May 2016 and January 2021 to calculate Donald Trump’s wealth before and after he became US president and found that the Covid-19 pandemic hit him hard.
Former president Trump’s office buildings, branded hotels, and resorts have all fallen in value as have his fleet of planes and golf courses.
Trump’s commercial real estate accounts for about three-quarters of his net worth. The office towers he owns or co-owns have seen big drops in valuations as more people work from home, a trend that could continue as the coronavirus pandemic goes on.
Bloomberg, which provides financial news and data, estimates a 26% drop in the value of his main commercial property holdings.
Although golf has become popular during the Covid-19 crisis as a socially distanced sport, the former president’s two courses in Scotland have consistently lost money, according to the filings consulted.
Furthermore, after Trump supporters stormed Capitol Hill in January, the Professional Golfers’ Association (PGA) of America ended an agreement to host its 2022 championship tournament at his New Jersey golf course.
Trump is currently under a criminal investigation into his financial affairs and his family business.
