How much is Donald Trump worth? The answer, like the man himself, is hard to pin down. In the past, the formula has gone like this: Trump makes a claim, journalists debunk it. Now add another step: That number declines year over year. The annual “Forbes” world ranking of billionaires is out, and the American president’s net worth has plummeted, sinking him more than 200 places on the list. Read on for the truth about how much Trump is worth.
How much is Donald Trump worth?
With a net worth of $3.1 billion, Donald Trump is now 766th richest person on the “Forbes” list. Last year, he was ranked 544th, with a net worth of $3.5 billion. The $400 million loss is due to forces both within and outside the president’s control. The real-estate market has caused the value of Trump Organization-owned buildings to decline, and his erratic behavior in office has caused his licensing revenue to plummet.
A big chunk of Trump’s problems fit within one city block near 57th Street and Fifth Avenue, the site of Trump Tower. “Forbes” reports that building’s value has declined $41 million in one year. Around the corner, one of Trump’s most expensive retail properties will soon sit empty: Niketown will vacate its 57th Street flagship store, leaving the Trump Organization with 65,000 square feet to fill in a market decimated by online shopping.
“Forbes” also reports that Trump’s company, which he has technically turned over to his sons Don Jr. and Eric, has lost $50 million in licensing revenues year over year, as a number of Trump-branded hotels in cities like New York, Toronto, and most recently Panama City, have stripped his name from their facades because of his offensive behavior in office. That trend looks hot for 2018: A Manhattan apartment complex is attempting to do the same.
Trump’s golf course business is up in states that voted for him, down in areas that went for Hillary Clinton in 2016. His downtown Manhattan office buildings are doing well. But Trump’s current net worth is a far cry from the $10 billion he claimed to be worth during the presidential campaign. But there’s a consolation prize: “Forbes” notes he’s still the richest U.S. president in history.