Donald Trump is said to have lost about $ 700 million since his presidency.
Above all, the corona crisis and impeachment seem to be causing his wealth to shrink.
Palm Beach, Florida - Donald Trump's net worth is reported to have fallen by $ 700 million since his presidency and attempted re-election.
This is shown by a new Bloomberg analysis.
Before his tenure, his fortune was still at three billion dollars, today it is said to be only 2.3 billion dollars.
The former president also owes more than $ 250 million in commercial real estate, although his properties are still valued at around $ 1.7 billion overall, according to Bloomberg.
But why has Trump lost so much money in recent years?
Donald Trump's fortune: Corona crisis and second impeachment are financially affecting him
As president, Trump had said that the pandemic would "go away".
But the corona crisis is still there and it has damaged Trump financially a lot.
According to business
news portal Bloomberg
, the Trump Organization's financial stakes in resorts and hotels around the world are in a "sad" state.
There has been a loss in value of about 42 percent since he started his presidential candidacy in 2015.
Trump has $ 330 million in debt to pay off in this sector.
Trump Real Estate, in particular, had to cope with heavy losses.
The company is responsible for managing Trump's luxury real estate.
However, the value of this company fell by 26 percent between 2016 and 2021.
Especially strong in 2020 when the corona crisis began.
Another reason for the loss of his fortune is
the second impeachment case against Trump
in the
Bloomberg
analysis
.
Longtime lender, Deutsche Bank, said they would no longer support the former president after the January 6th storm on the U.S. Capitol.
However, Eric Trump did not put up with the results of the Bloomberg analysis.
He had taken over the business of the "Trump Organization" alongside his older brother Donald Trump Jr. when his father was a candidate for the presidency.
"Bloomberg's rating is a joke," said Eric Trump.
"We have the best assets in the world, have extremely low debt relative to our holdings, and [have] incredibly strong cash flow."
Donald Trump: Many companies are turning their backs on the former president
Banks, city governments and a number of entertainment organizations also announced that they would cut ties with the former president after the Capitol storm and the many riots by Trump supporters.
In his analysis,
Bloomberg also
describes Trump's book deals as a “total disaster”.
His income from memoirs and ledger books had fallen by around 87 percent since 2015 and would have brought him about $ 119,000 in 2020.
Trump's few profits came from his private Mar-a-Lago Club in Palm Beach, Florida and the Trump Winery in Charlottesville, Virginia, according to Bloomberg.
Mar-a-Lago, where he has lived since moving out of the White House in January, earned $ 22.9 million in 2020 compared to $ 22.3 million in 2015. However, the facility was recently closed due to a coronavirus - Outbreak partially closed after two major events.
Donald Trump is said to have been to one and, according to various reports, did not wear a mask.
(dp)
