The net worth of former US President, Donald Trump has dropped by about 700million dollars to 2.3billion dollars during his time as president. The presidency cost Trump an estimated $700m in lost wealth, according to a new analysis of his fortune, with the coronavirus pandemic and Capitol siege slashing income and damaging his brand.
Bloomberg Billionaires Index estimates a 26% drop in the value of his main commercial property holdings. It says the Covid-19 pandemic hit his fortunes hard, with Trump’s office buildings, branded hotels and resorts losing revenue and falling in value, while his fleet of planes and golf courses have also seen drops in their value.
Trump stepped away from his real estate and branding empire to serve as president, transferring control to his sons, Donald Jr and Eric.
The former US president is currently under a criminal investigation into his financial affairs and his family business.
EDITOR: ABIOLA ABERUAGBA