How was Trump's fortune after leaving the US presidency?
According to specialized media, his net worth fell considerably during his tenure.
He became, in January 2017, the first billionaire president of the United States. That is one of the many reasons why, for better or for worse, Donald Trump will go down in history.
In March 2016, almost a year before arriving at the White House, he had a fortune amounting to 4.5 billion dollars. Today, when he no longer holds what is considered one of the most powerful positions in the world, the exact figure of his assets is not clear, among other things, because The Trump Organization, his private company, is not obliged to publish statements financial
However, there are estimates. One of the most reliable is the one presented by the renowned magazine specialized in economics Forbes, which this week updated its data and revealed that the former president would currently have a net worth valued at 2.5 billion dollars.
That figure, while considerably lower than his pre-presidency, ranks Trump at number 339 on the list of the 400 richest people in the United States and at number 1,001 among billionaires. of the world.
In addition, it represents a recovery of 400 million dollars, because in April 2020, at the beginning of the pandemic, that magazine calculated the wealth of the tycoon at about 2,100 million dollars.
Forbes explains that the core of Trump's fortune "is tied to a half dozen buildings in and around downtown Manhattan in New York City." He also emphasizes that he is "the owner of golf courses and a winery" and that "he has granted licenses with his name to companies around the world."
Donald Trump began working for his father, Fred, who developed low-cost housing in Brooklyn and Queens in New York. Today, maintaining that lineage, he entrusts his two older sons, Don Jr. and Eric, to run the family business.
In fact, it was known that, while he was in the presidency, they were the two who took care of everything.
But it was precisely the fact that he became president of the United States that marked a before and after in his considerable fortune. According to the Bloomberg Billionaires Index, Trump's net worth fell to $ 2.3 billion (about $ 700 million less) during his tenure.
In the crisis that caused the covid-19 pandemic, its economic empire has also been affected, as Trump-brand office buildings, hotels and resorts, as well as its fleet of airplanes and golf courses, have lost income and its value has fallen.
Specialized media explain that commercial real estate accounts for about three-quarters of his net worth. However, in the wake of the pandemic, Bloomberg estimated a 26% drop in the value of his major commercial properties.
In addition, his fleet of aircraft, which includes a Boeing 757, has seen a reduction in value over the years. From seven planes valued at around $ 59 million in 2015, his fleet was reduced to five, all of which were valued at around $ 6.5 million in 2020.
But perhaps the most accurate hit is an ongoing investigation into his financial affairs and his family business.
During his tenure, Trump's finances were repeatedly the focus of attention, among other things, for the secrecy regarding the amount of personal and corporate taxes he pays.
In fact, last February the Supreme Court of that country ordered him to turn over his tax returns and other financial records to New York prosecutors.
This investigation began in 2018 to examine the role of the Trump Organization in secret money payments made during the 2016 presidential campaign to two women who said they had had affairs with the tycoon.
With the decision, he is not forced directly to give his tax returns, but to his accounting firm Mazars, which has handled the tycoon's finances for years. Nor does it mean that the statements of the former president today will be declassified before the public. But the relevant thing is that Trump did lose a tough legal battle that he fought for years so that his tax return was not known.
Since his presidential campaign, the billionaire has vowed to voluntarily publish his tax returns, as all American presidents have done in recent periods.
However, unlike his predecessors, Trump never released the records.
The former president's financial future is still uncertain. They talk about various options to recover economically, ranging from a possible book with memories of his mandate (a strategy that worked for other ex-presidents, such as the Obamas and Bill Clinton) to the creation of a news channel or a networking platform. social.
