Donald Trump’s net worth plunges $700 million because of this flopped business
Former US President Donald Trump’s net worth fell significantly since the fall, according to the latest estimates from Forbes.
The updated numbers showed that Donald Trump’s estimated worth now is $2.5 billion—a decline from the $3.2 billion since September 2022.
The former US President’s wealth has fluctuated over the years with his highest ranking at $4.5 billion in 2015 when he announced his first presidential campaign. In 2020 during his second bid for the White House, his net worth fell to $2.1 billion. Since losing the election, his net worth has hovered around the $2.5 billion mark.
Donald Trump’s wealth comes from his golf clubs and resorts which are valued at $730 million and his real estate ventures in New York are valued at $720 million, the report showed. His cash and personal assets total $610 million and his social media and brand business bring in $240 million, it further showed. He also possesses real estate worth $230 million in real estate outside of New York.
The decline comes from a significant decrease in his social media assets which were estimate to be at $730 million in September last year. Now, the business is only valued at $180 million.
The report also showed that Donald Trump’s property with the highest net value is 1290 Avenue of the Americas in Manhattan. His second most valuable property is Mar-a-Lago in Palm Beach, Florida, where Donald Trump has lived since leaving office in 2021. It is valued at $325 million.
Donald Trump first appeared on the Forbes 400 list in 1982 when he was worth $0.2 billion.