Trump lost $700m after presidency

Donald Trump’s net worth dropped by a staggering $700m to $2.3bn during his time as president, according to the Bloomberg Billionaires Index.

The Covid-19 pandemic hit his fortunes hard, with Mr Trump’s office buildings, branded hotels and resorts losing revenue and falling in value.

According to the report, Trump’s fleet of planes and golf courses have also seen drops in their value.

This comes as the former president faces a criminal investigation into his financial affairs and his family business.

Mr Trump’s commercial real estate accounts for about three-quarters of his net worth. The office towers he owns or co-owns have seen big drops in valuations as more people work from home, a trend that could last in the long term, BBC writes.

He also owns, manages or licenses his name to about a dozen hotels and resorts, plus 19 golf courses.

After the Capitol Hill siege in January, the Professional Golfers’ Association (PGA) of America ended an agreement to host its 2022 championship tournament at Mr Trump’s New Jersey golf course, saying it would hurt the group’s brand.

Deutsche Bank, the only bank willing to lend to him after his bankruptcies in the 1990s, also said after the riots that it would not do business with him again.

As a former president, Trump can expect to sign some lucrative media deals to recover some of his lost wealth, such as a post-presidential memoir.

But Bloomberg says the most obvious way Trump can profit post-presidency is with a news channel or social media platform that would appeal to his 74m voters in the 2020 election.

Latest

BREAKING: Population Census postponed to May

The Federal Government has shifted the 2023 population and...

Convicted Nigerian man pulls off N17m romance scam from Ogun prison

A convicted internet fraudster, Femi Oso, who is said...

Nigeria nominates Ghanaian Herbert Mensah for Rugby Africa President

Herbert Mensah, sports administrator, and President of the Ghana...

Nigerian man jailed for life over South African singer’s murder

The Pretoria Magistrate’s Court has sentenced a Nigerian, Onyeghani...

Newsletter

Don't miss

BREAKING: Population Census postponed to May

The Federal Government has shifted the 2023 population and...

Convicted Nigerian man pulls off N17m romance scam from Ogun prison

A convicted internet fraudster, Femi Oso, who is said...

Nigeria nominates Ghanaian Herbert Mensah for Rugby Africa President

Herbert Mensah, sports administrator, and President of the Ghana...

Nigerian man jailed for life over South African singer’s murder

The Pretoria Magistrate’s Court has sentenced a Nigerian, Onyeghani...

Quincy Jones celebrates 90th birthday with epic social media post

Legendary music mogul Quincy Jones hit the nonagenarian milestone...

BREAKING: Population Census postponed to May

The Federal Government has shifted the 2023 population and housing census earlier scheduled for March 29, 2023. Minister of Information and Culture, Alhaji Lai Mohammed,...

Convicted Nigerian man pulls off N17m romance scam from Ogun prison

A convicted internet fraudster, Femi Oso, who is said to be on death row at the Ibara Correctional Centre in Ogun State, allegedly defrauded...

Nigeria nominates Ghanaian Herbert Mensah for Rugby Africa President

Herbert Mensah, sports administrator, and President of the Ghana Rugby Football Union, today announced his candidacy for President of the World Rugby’s African association,...
%d bloggers like this: