He might be the richest man to lead the nation, but President Trump’s net worth has gotten dinged.
According to a recent assessment by Forbes, Trump’s net worth has dwindled to $3.5 billion, $200 million less than Forbes valued him at ahead of the election.
Forbes, which releases an annual list of the world’s billionaires, pinpointed the slumping New York City real estate market as the reason why the president has fallen more than 100 spots to No. 544 on the magazine’s list.
Personal expenditures have tied up Trump’s cash, too. Forbes reports he donated $66 million to his campaign, nearly 20 percent of its total budget. He spent another $25 million settling a lawsuit over Trump University.
Trump claimed while campaigning that he was worth “in excess of $10 billion,” but that figure has been difficult to confirm, as Trump has refused repeatedly to release his tax returns. But Forbes and Bloomberg have pegged Trump’s worth to be one-thirdof that figure.
What does Trump own?
Because Trump has refused to divest from his global business empire, instead passing control on to his two oldest sons, he will continue tofinancially benefit from the Trump Organization.
That includes hotels in New York, Las Vegas and Washington D.C., as well as real estate in New York City.
Per Forbes, here’s how his $3.5 billion net worth adds up:
–Brand businesses: $230 million
–Cash and personal assets: $270 million
–Golf clubs and resorts: $620 million
–Non-NYC real estate: $630 million
–NYC real estate: $1.7 billion
How much money does Trump make as president?
Compared to his wealth earned in the real estate market, not much.
Trump earns $400,000, along with a $50,000 expense account, $100,000 for travel and $19,000 for entertainment, per federal code. But he’s said before he plans to forego his salary, taking the $1 a year required by law.