6.5 C
New York
Saturday, October 23, 2021

Trump’s fortune suffers a record fall since his time in the White House

Must Read

A new drug called “bombe” made from catalytic converters’ crushed honeycomb and pills is rattling authorities

The drug Bombe is made by smashing the ceramic honeycomb core of car catalytic converters, a device...

‘Dune’ Review: a sci-fi fantasy genre that won’t disappoint you

If you've read Frank Herbert's Dune series, you'll know what to come from Denis Villeneuve's CGI-heavy magnum...

Rare ‘rat king’ found alive in Estonia

After being discovered in Plva County, a unique 'rat king' was sent to the University of Tartu...
Amit Kumar
Amit Kumar is editor-in-chief and founder of Revyuh Media. He has been ensuring journalistic quality and shaping the future of Revyuh.com - in terms of content, text, personnel and strategy. He also develops herself further, likes to learn new things and, as a trained mediator, considers communication and freedom to be essential in editorial cooperation. After studying and training at the Indian Institute of Journalism & Mass Communication He accompanied an ambitious Internet portal into the Afterlife and was editor of the Scroll Lib Foundation. After that He did public relations for the MNC's in India. Email: amit.kumar (at) revyuh (dot) com ICE : 00 91 (0) 99580 61723

As the presidential elections approach, many wonder if the US president has become richer in the last four years. Well, it seems that no. The president’s net worth has dropped sharply, though he still stands in the billions, according to the Bloomberg Billionaires Index.

Over the past year, US President Donald Trump’s net worth (excluding debt) has decreased by about $ 300 million. This dynamic represents a fall of 10%, the steepest since the agency began to track his fortune in 2015. Today the president and tycoon total some $ 2.7 billion, Bloomberg cites.

“It all started with a decrease in revenue in the Trump Organization‘s portfolio of office buildings and then the situation was aggravated by the impact on real estate markets from the coronavirus pandemic,” the agency explains.

Trump was reportedly most affected by the fall in the value of the famous Trump Tower on New York’s 5th Avenue. In 2018, the Trump Organization lost one of its key tenants: Nike moved out of a huge building on 57th Street. Bloomberg points out that finding a new tenant for the building has become especially difficult after COVID-19’s hit to retail in the US.

In parallel, the costs of Trump-owned golf courses have fallen, something Bloomberg attributes to the fact that the sport is losing popularity among younger Americans.

However, the agency highlights the presence of positive moments in Trump’s business. Despite the ambiguity about the president’s personality, the Trump brand business has earned him tens of millions of dollars over the past year. Its hotels and clubs continue to be very popular and, in addition, receive significant financial support as a result of the payment of the treasury for the stay of the president and his team during Trump’s rest visits.

- Advertisement -
- Advertisement -

Latest News

- Advertisement -

More Articles Like This

- Advertisement -