Trump has lost $1 billion in personal wealth since running for president

Trump has lost $1 billion in personal wealth since running for president

Some wealthy patrons are steering clear of Trump properties, saying the country club experience is now ruined "by metal detectors and bomb-sniffing dogs."

by Claire Atkinson / Oct.03.2018 / 1:22 PM EDT

The presidency has been bad for Donald Trump's finances, with his personal net worth falling from $4.5 billion to $3.1 billion over the past two years, according to the latest Forbes billionaires list.

Trump dropped 138 spots to 259 on the Forbes 400, an annual measure of the richest people in the U.S. During that same period, Amazon founder and CEO Jeff Bezos rose to the top spot, with an estimated fortune 52 times greater than that of the president, at $160 billion.

Forbes attributed the decline of Trump's fortune to three main factors: e-commerce eating into the value of Trump's real estate holdings, the intrusion of heightened security at Trump's resorts, and Trump's own over-reporting of the size of his penthouse.

"Much as he's trying — and he's definitely trying — Donald Trump is not getting richer off the presidency," according to Forbes.

Revenue from Trump-branded ties, whiskies, MAGA hats and other merchandise has plummeted to just $3 million from $23 million in 2015. “He has significantly tarnished the brand,” licensing expert Jeff Lotman told Forbes.

Additionally:

Revenue at his golf clubs is down by 9 percent, in part because of the increased security that guests have to go through to attend the resorts.

Trump Tower condos are down 33 percent from their highs, and have fallen every year since Trump announced his run for the presidency.

Overall hotel revenue is down by $30 million since Trump announced he was running for president — and three major Trump-branded hotels have even stripped his name from their properties.

There are some bright spots for the Trump empire: Business at the Trump International Hotel in Washington is doing well thanks to an influx of foreign government officials and GOP bookings. Similarly, the value of the "winter White House," Mar-a-Lago, rose by $10 million, to $160 million — and also reportedly doubled its initiation fee to $200,000.

Trump notwithstanding, it's been a record year for the nation's billionaires, according to Forbes. Their total net worth rose 7 percent year on year to a high of $2.9 trillion, with an average net worth of $7.2 billion each, versus $6.7 billion last year.

The oldest person on the list is media mogul Sumner Redstone, 95, with $4.8 billion. The youngest is Snapchat CEO Evan Spiegel, 28, worth $2.2 billion.

Trump first appeared on the Forbes list in 1982 with his father, Fred Trump, with $200 million each. The following year, Trump Sr. disappeared from the list, and Donald Trump's fortune was listed at $400 million, according to Dan Alexander, one of the reporters of the Forbes piece.

https://www.nbcnews.com/business/bus...sident-n916221

Much has been sacrificed by President Trump and his family to "Make America Great Again." This goes far beyond dollars in the vitriol they and others near them have endured. It is a public shunning for quite a few.

They have sacrified a lot in many ways to help US fix our country. I was sad to see his company lose so much value because of his becoming President. Ivanka has lost a lot as well, she had to close her company a few months ago or at least thought that was the best thing given all the negative attention and attacks. It's sad to see people who worked so hard to build beautiful properties and have nice lines of products to purchase that people really liked, lose anything let alone so much due to DemoQuackery, Anti-Trumpers and this vile hatred they have for the Trump family. It's so strange because the Trumps are as friendly, accommodating, gracious, service-minded and hospitable as any family you could find anywhere. For them, business is personal and all about their customers and future customers, all about the neighborhoods they improve with their projects, all about the nice fashionable products to buy.

To see people in New York going after the Trump's, a city and state that they've done more for than any other state to my knowledge, is just disgraceful. It's like targeted persecution, willful intent to do harm, for no valid rational reason, just because they think they can.

It's sick.

For some folks money isn't everything. How many men alive today can say they held the highest office in our land? Donald Trump will now be a permanent part of our history for all time. Personally, I think he should feel honored. As far as money goes, he'll recoup any losses and profit even more on the back end. Trust me, Trump is no victim and will benefit much more than he will have sacrificed.

As for Ivanka and Jared Kushner, I don't think they should even be in the White House. Just my opinion.

The report certainly proves he isn't making money off "emoluments" as President to make money off the position. It doesn't seem to bother him, but still it's a shame it happened. I hope it rebounds for him, markets can do that. I hope it happens for him and his family. He doesn't even collect his salary. And there is the possibility that Forbes is lying, too, to try and make him look bad.