Donald Trump Recently Lost $700 Million How Much Is He Worth? – Yahoo Finance
John Raoux/AP/Shutterstock / John Raoux/AP/Shutterstock
As of March 2021, the Bloomberg Billionaires Index estimates former President Donald Trumps net worth to be $2.33 billion. Trumps net worth dropped by about $700 million in his last year of presidency.
See: All the Ways the Trumps Have Made Money Over the Past 20 YearsFind: Trump Faces Trouble with the Crown Jewels of His Real Estate Empire
Forbes reported that Trump was worth $3.7 billion when he first took office in 2016. That plummeted to $3.1 billion his first year in office, and then declined to $2.5 billion in 2020. He lost an additional $700 million following the Capitol Hill riots and his impeachment, when several organizations stopped doing business with Trump or any of his properties.
The 2020 dip in Trumps overall net worth was largely due to the coronavirus and the impact it has had on industries in which he holds his biggest assets. Values for office buildings and hotels have plummeted. His properties in Washington, D.C. and Chicago appear to be underwater, while Doral, his golf resort in Miami, has lost 80% of its value in a year, Forbes reported.
Additionally, the Capitol Hill riots resulted in Trumps golf course losing the right to host the PGA championship tour in 2022, which will undoubtedly lead to lost marketing opportunities and reduced profits for the course. In the days following the riots, Shopify closed Trumps online stores.
See: PGA Pulls Event from Trump Golf Course, Shopify Terminates Trumps Online Stores, Banks Cut TiesFind: Trump Ex-Lawyer Sued by Dominion for $1.3 Billion How 14 Corporate Lawsuits Turned Out
Whats more, at least $590 million in loans will come due in the next four years, Bloomberg reports, which could further impact the billionaires bottom line.Still, Trump retains some valuable assets, including garages in New York City, the Mar-a-Lago Club in Florida and three nearby homes.
A businessman and former reality television star, Trumps path to wealth was very different than that of your typical politician. Read on for a better understanding of how Trump built his fortune.
Story continues
When he was sworn into his presidency, he was the oldest person to be sworn in he was 70 years, 220 days old on Jan. 20, 2017. (That title now belongs to Biden, who was 78 when he was sworn in). Trump beat out a number of contenders to become the Republican nominee for the 2016 presidential election. He went on to defeat Democratic nominee Hillary Clinton. His term ended on Jan. 20, when President Joe Biden began his term as the 46th president.
Trump was born into a wealthy family and inherited about $40 million from his late father, real estate developer Fred Trump. In 1971, Donald Trump became head of what would later be known as The Trump Organization.
Trumps earnings and title have since helped him develop more than 500 companies. The business mogul has his stake in luxury golf courses, skyscrapers, television shows, casinos, books, merchandise and more.
See: Trumps 14 Most Questionable Campaign Expenses
The only thing bigger than Trumps personality is his business acumen. He landed a deal with Hyatt, the city of New York and the unprofitable Commodore Hotel beside the Grand Central Station, earning the right to renovate and rebrand the ailing hotel into the Grand Hyatt. In 1980, that hotel became an instant success, making Trump one of the best-known real estate developers in the area.
Find Out: Just How Rich Are President Joe Biden and These Other Big Names?
In 1984, Trump completed construction on the 68-story Trump Tower, which serves as headquarters for The Trump Organization to this day. The building includes a 60-foot waterfall and, on opening day, had five levels of retail stores and restaurants.
Trump has owned a slew of successful businesses and properties, among them Trump Place, a luxury residential community spanning 92 acres. The Trump International Hotel & Tower Chicago has a hotel, condos and numerous restaurants and shops. The success of Wollman Rink, a Central Park staple, is arguably credited to Trump.
However, following the storming of the U.S. Capitol, New York City announced that it was severing its business ties with Trump. On Jan. 13, Mayor Bill de Blasio announced that the city would be terminating three contracts with The Trump Organization that would cease its operations of a carousel in Manhattans Central Park, skating rinks and a golf course in the Bronx, Reuters reported.
Learn: These Are All the States With Trump Properties and Businesses
Donald Trump has major business wins to his name, but he also has some big losses.
In 1988, Trump spent $365 million on a fleet of Boeing 727s, as well as landing facilities in Boston, New York City and Washington, D.C. He also bought the rights to paint his name on a plane. His attempt to build a luxury flying experience under the Trump Shuttle name failed, however, and the company was decommissioned.
In 1990, the banks that backed Trumps investments provided him with a $65 million bailout in new loans and credit. Trumps famous Taj Mahal casino in Atlantic City, New Jersey, went bankrupt in 1991, and Trump Hotels & Casino Resorts went bankrupt in 2004. In 2009, the same company now called Trump Entertainment Resorts filed for bankruptcy again.
One of Trumps highest-profile business failures is Trump University. The unaccredited online college was launched in 2005 and closed down in 2010. Three Trump University lawsuits plagued his first presidential campaign, alleging that Trump University was a scam that cost students tens of thousands of dollars. Trump settled the lawsuits for $25 million, though he did not admit any wrongdoing.
Donald Trump has been married three times. He was with his first wife, Ivana, from 1977 to 1992. The couple had three children together: Donald Jr., Ivanka and Eric. The three eldest Trump children along with Ivankas husband, real estate investor and developer Jared Kushner were highly involved in their fathers presidency.
Trump married Marla Maples in December 1993, two months after Maples gave birth to their daughter, Tiffany. The couple divorced in 1999.
Trump has been married to his current wife and former first lady, Melania Trump, who has an estimated net worth of $50 million, since 2005. Melania is the mother of Trumps youngest son, Barron.
Look: The Wealthiest Presidential Children
Donald Trump sometimes lives in a three-floor penthouse in Trump Tower with his wife, Melania, and son Barron. The luxuries the family enjoys at Trump Tower include an indoor fountain and a door encrusted with diamonds and gold, Business Insider reported.
Among Trumps other notable properties is Mar-a-Lago, where he spent 25 of his first 100 days in office. He moved back to the estate after his term as president ended, CNN reported. The luxury club is worth $180 million, according to Forbes, and sits on 17 acres of valuable South Florida land. Trump bought the estate which boasts 58 bedrooms, 33 bathrooms, 12 fireplaces and three bomb shelters for the bargain price of $10 million in 1985.
Before having access to Air Force One, Trump shuttled between campaign stops in his $100 million Boeing 757 adorned with gold seatbelts. His fleet of luxury vehicles includes a Rolls Royce, an electric blue 1997 Lamborghini Diablo and a Mercedes-Benz SLR McLaren.
More From GOBankingRates
Andrew Lisa contributed to the reporting for this article.
Last updated: March 18, 2021
This article originally appeared on GOBankingRates.com: Donald Trump Recently Lost $700 Million How Much Is He Worth?
Here is the original post:
Donald Trump Recently Lost $700 Million How Much Is He Worth? - Yahoo Finance
- Trump can still serve as president if he's convicted of a crime - The Washington Post - The Washington Post - April 11th, 2024 [April 11th, 2024]
- NY AG Letitia James is not done with Donald Trump - Business Insider - April 11th, 2024 [April 11th, 2024]
- Opinion | What Worries Me Most About a Trump Presidency - The New York Times - April 11th, 2024 [April 11th, 2024]
- Joe Biden is now beating Donald Trump in the majority of polls - Newsweek - April 11th, 2024 [April 11th, 2024]
- Election Live Updates: Abortion and Inflation Raise Issues for Biden and Trump - The New York Times - April 11th, 2024 [April 11th, 2024]
- Sebastian Stan Transforms Into Young Donald Trump in The Apprentice First Look - Variety - April 11th, 2024 [April 11th, 2024]
- Donald Trump could face prison time if he is convicted in upcoming NY hush money trial - USA TODAY - April 11th, 2024 [April 11th, 2024]
- Donald Trump's Stock Has Lost More Than Half Its Value Since Going Public - Newsweek - April 11th, 2024 [April 11th, 2024]
- Donald Trump booted from prestigious list of billionaires after Truth Social parent's swan dive - Fortune - April 11th, 2024 [April 11th, 2024]
- Donald Trump Movie The Apprentice to Premiere at Cannes: First Look and What We Know - Hollywood Reporter - April 11th, 2024 [April 11th, 2024]
- Election Updates: Trump says he would not sign a federal abortion ban if elected. - The New York Times - April 11th, 2024 [April 11th, 2024]
- Trump is first ex-U.S. president on trial, but other nations have done it - The Washington Post - April 11th, 2024 [April 11th, 2024]
- 'The Apprentice' First Look: Sebastian Stan Is a Young Donald Trump Building His Empire - IndieWire - April 11th, 2024 [April 11th, 2024]
- Johnson to Join Trump at Mar-a-Lago for 'Election Integrity' Announcement - The New York Times - April 11th, 2024 [April 11th, 2024]
- Stormy Daniels, Donald Trump, and the start of the hush money trial podcast - The Guardian - April 11th, 2024 [April 11th, 2024]
- Trump fails to delay N.Y. criminal trial for a third time this week - The Washington Post - April 11th, 2024 [April 11th, 2024]
- Why Biden Raising More Money Than Trump for the 2024 Election Matters - The New York Times - April 11th, 2024 [April 11th, 2024]
- How Voters Describe the 2024 Election in One Word - The New York Times - April 11th, 2024 [April 11th, 2024]
- Donald Trump biopic and new films by Yorgos Lanthimos and Andrea Arnold to premiere at Cannes - The Guardian - April 11th, 2024 [April 11th, 2024]
- What Is Trumps Weakness? Biden Seizes on Abortion to Attack GOP Rival - Bloomberg - April 11th, 2024 [April 11th, 2024]
- Fox News Hosts Argue Over Donald Trump Going To Prison - Newsweek - April 11th, 2024 [April 11th, 2024]
- Opinion | Impromptu podcast: Columnists on presidential campaign 2024 - The Washington Post - The Washington Post - April 11th, 2024 [April 11th, 2024]
- A total eclipse of Donald Trump: First felony trial could finally humble him - Salon - April 11th, 2024 [April 11th, 2024]
- 'Donald Trump did this': New Biden abortion ad features a woman who says she almost died because of the Texas ban - NBC News - April 11th, 2024 [April 11th, 2024]
- Donald Trump Backed Over Bond Reduction - Newsweek - April 11th, 2024 [April 11th, 2024]
- Election 2024 latest news: Biden campaign keeps focus on abortion with new Arizona ad buy - The Washington Post - April 11th, 2024 [April 11th, 2024]
- Trump campaign changes election rules to try to win in 2024 - The Week - April 11th, 2024 [April 11th, 2024]
- Donald Trumps Hush-Money Trial: What to Know - TIME - April 11th, 2024 [April 11th, 2024]
- Opinion | How the Pro-Life Movements Deal With Trump Made America More Pro-Choice - The New York Times - April 11th, 2024 [April 11th, 2024]
- The Apprentice: First Look At Sebastian Stan As Donald Trump & Jeremy Strong As Roy Cohn In Cannes Competition Film - Deadline - April 11th, 2024 [April 11th, 2024]
- Donald Trump Threatens to Start a Global Protection Racket - The Nation - February 16th, 2024 [February 16th, 2024]
- Trump's New York hush-money case will start March 25. It's the first of his criminal trials - The Associated Press - February 16th, 2024 [February 16th, 2024]
- Trump's Threat to NATO Is the Scariest Kind of Gaffe: It's Real - The New Yorker - February 16th, 2024 [February 16th, 2024]
- N.Y. judge orders Trump and executives to pay $364 million in civil fraud case - NPR - February 16th, 2024 [February 16th, 2024]
- How will Donald Trump pay the $438m he owes in penalties from civil trials? - The Guardian US - February 16th, 2024 [February 16th, 2024]
- Donald Trump ordered to pay $354 million in New York real estate fraud lawsuit - USA TODAY - February 16th, 2024 [February 16th, 2024]
- Donald Trump NY case ruling: Judge rules Donald Trump, Eric and Don Jr. must pay $354 million in New York civil fraud trial - WLS-TV - February 16th, 2024 [February 16th, 2024]
- Donald Trump and associates ordered to pay $364mn in New York fraud case - Financial Times - February 16th, 2024 [February 16th, 2024]
- Donald Trump ordered to pay over $350m in New York financial fraud case - The Guardian US - February 16th, 2024 [February 16th, 2024]
- Who Is Arthur Engoron, the Judge Who Penalized Donald Trump? - The New York Times - February 16th, 2024 [February 16th, 2024]
- The Civil Fraud Ruling on Donald Trump, Annotated - The New York Times - February 16th, 2024 [February 16th, 2024]
- Donald Trump pivots Laura Ingraham town hall from Spartanburg to Greenville - Greenville News - February 16th, 2024 [February 16th, 2024]
- Trump's Harsh Punishment Was Made Possible by This New York Law - The New York Times - February 16th, 2024 [February 16th, 2024]
- Judge rules Donald Trump owes over $350M in civil fraud trial, issues 3-year ban from doing business in New York - WABC-TV - February 16th, 2024 [February 16th, 2024]
- Trump ordered to pay over $350M for business fraud - POLITICO - February 16th, 2024 [February 16th, 2024]
- After Report of Navalny Death, Haley Attacks Trump Over Past Praise for Putin - The New York Times - February 16th, 2024 [February 16th, 2024]
- Why Don Jr. and Eric Are in Trouble in the New Trump Rulingand Ivanka Is Not - Slate - February 16th, 2024 [February 16th, 2024]
- Donald Trump Hit With $355M Fraud Trial Judgment; Banned From Doing Business In New York For Years - Deadline - February 16th, 2024 [February 16th, 2024]
- Trump has been ordered to pay $447 million in damages. Can he afford it? - Vox.com - February 16th, 2024 [February 16th, 2024]
- For Trump, Friday's verdict is not just business. It's personal. - POLITICO - February 16th, 2024 [February 16th, 2024]
- READ: The Bombshell Verdict Ordering Trump to Pay $364 Million - The Daily Beast - February 16th, 2024 [February 16th, 2024]
- No, Donald Trump is not Americas Navalny - The Washington Post - February 16th, 2024 [February 16th, 2024]
- Toby Keith's 'Courtesy of the Red, White and Blue' lives on in MAGA country - NPR - February 16th, 2024 [February 16th, 2024]
- Donald Trump ordered to pay $355M, barred from NY business in civil fraud case - New York Post - February 16th, 2024 [February 16th, 2024]
- Donald Trump civil fraud ruling: The $355 million fine and business restrictions could end the Trump organization as ... - Slate - February 16th, 2024 [February 16th, 2024]
- Highlights From a Key Hearing in Trump's Manhattan Criminal Case - The New York Times - February 16th, 2024 [February 16th, 2024]
- Read the full ruling from Judge Engoron in Trump's civil fraud trial - The Washington Post - February 16th, 2024 [February 16th, 2024]
- Eric, Donald Trump Jr. face weaker penalties in fraud trial verdict - Business Insider - February 16th, 2024 [February 16th, 2024]
- How Donald Trump is making the GOP the party of Putin - MSNBC - February 16th, 2024 [February 16th, 2024]
- Trump's Bank Fraud Trial Ends With $364 Million Gut Punch - The Daily Beast - February 16th, 2024 [February 16th, 2024]
- Donald Trump faces many signs of potential political trouble; here are a few of them - USA TODAY - December 25th, 2023 [December 25th, 2023]
- Mary Trump Makes Bad Prediction for Donald Trump - Newsweek - December 25th, 2023 [December 25th, 2023]
- Where is Donald Trump facing 14th Amendment challenges? - Yahoo News - December 25th, 2023 [December 25th, 2023]
- Something Stinks: Why #TrumpSmells Is Trending On X - Yahoo Entertainment - December 25th, 2023 [December 25th, 2023]
- GOP senators who voted to acquit Trump insist they dont regret it - The Hill - December 25th, 2023 [December 25th, 2023]
- Donald Trump says he is 'not a student of Hitler,' won't rule as a dictator - ABC News - December 25th, 2023 [December 25th, 2023]
- Donald Trump calls on court to block federal 2020 election charges - The Columbus Dispatch - December 25th, 2023 [December 25th, 2023]
- Lindsey Graham warns Donald Trump could lose in 2024 if he focuses on 2020 election - USA TODAY - December 25th, 2023 [December 25th, 2023]
- Opinion | 'Donald Trump Is No Moderate' - The New York Times - December 25th, 2023 [December 25th, 2023]
- John Roberts, Donald Trump and the ghosts of Bush v. Gore - POLITICO - December 25th, 2023 [December 25th, 2023]
- How the 14th Amendment could block Donald Trump from becoming president - WBUR News - December 25th, 2023 [December 25th, 2023]
- Howey: Donald Trump and the insurrection fallout - Courier & Press - December 25th, 2023 [December 25th, 2023]
- Donald Trump's history with Adolf Hitler and his Nazi writings: ANALYSIS - ABC News - December 25th, 2023 [December 25th, 2023]
- Trump asks appeals court to toss election interference case, arguing that he's immune - NPR - December 25th, 2023 [December 25th, 2023]
- Colorado Trump ruling leads to rise in violent online rhetoric - NPR - December 25th, 2023 [December 25th, 2023]
- Trump claims he's never read Hitler's 'Mein Kampf,' as he doubles down on anti-immigrant phrase - ABC News - December 25th, 2023 [December 25th, 2023]
- GOP Floats Tucker Carlson As Donald Trump's 2024 Vice President Pick - The Daily Beast - December 25th, 2023 [December 25th, 2023]
- Trump allies and MAGA luminaries move to kill off the Haley-for-VP buzz - POLITICO - December 25th, 2023 [December 25th, 2023]
- Donald Trump said an ad used AI to make him look bad. The clips are real. - Tampa Bay Times - December 25th, 2023 [December 25th, 2023]
- Trump Asks Appeals Court to Toss Election Case on Immunity Grounds - The New York Times - December 25th, 2023 [December 25th, 2023]