When Donald Trump first threw his hat in the ring for the White House in 2015, he knew he was placing his personal fortune and his business empire on the line. Now, it’s become clear that his time in office indeed took a toll on the former president and his family — especially financially.
According to The Hill, a recent analysis estimated that Trump’s net worth has fallen by as much as $700 million since he was inaugurated in January 2016.
The president’s net worth was pegged at around $3 billion in 2016; in 2021, it now sits at $2.3 billion, The Hill reports.
A hard hit
In its report, The Hill cited a study from Bloomberg News, which took a deep dive into public information about Trump’s financial state.
The outlet’s investigation reportedly included thorough reviews of the former president’s financial disclosure forms and loan documents, as well as “interviews with former executives and industry analysts.” The Trump Organization declined to comment, however.
The analysis showed that Trump was hurt not just by negative media attention — which ramped up amid a partisan impeachment push earlier this year — but also by the coronavirus; business closures and lockdowns implemented by state and local governments in light of the pandemic reportedly wreaked havoc on the former president’s real estate empire, with his commercial properties like office buildings and resorts taking the hardest hit.
Bloomberg concluded that Trump’s commercial real estate portfolio is currently valued at around $1.7 billion, down about 26% since 2016. Meanwhile, the former president’s resorts and hotels, valued at approximately $559 million, looked to be down around 42% since 2015.
Trump also reportedly lost money on his residential real estate properties, his licensed branding, his aircraft fleet and books, and his entertainment income and royalties, The Hill noted.
There were a few potential bright spots on the post-presidency horizon for Trump’s finances, however — namely, his golf courses and winery, which have held fairly steady despite media-driven controversies and the ongoing pandemic.
In addition, it’s likely that Trump will write and publish a memoir or otherwise dip his toes back into the entertainment industry at some point in the future, potentially providing a boost to the 74-year-old’s net worth.
A separate analysis from Forbes also showed a net loss for Trump over the course of his presidency. As of March 18, Forbes had Trump listed at No. 339 on its list of 400 wealthiest Americans, pegging him at an estimated net worth of $2.5 billion, down from $4.5 billion in March 2016.
The two studies make clear that Trump’s presidency proved quite costly in terms of his personal wealth and reputation — but he has bounced back from business losses before, and there’s no reason to believe that he can’t bounce back again this time around.