Donald Trump Net Worth 2017: US President Has Lost $200 Million Since 2016 Election
U.S. President Donald Trump might be losing his money after winning the election.
According to a report from Forbes, the business tycoon-turned-head of state has lost $200 million since the election based on his estimated net worth of $3.5 billion as of March 2017.
A separate report from Newsweek revealed that Trump had an estimated net worth of $3.7 billion dollars before his victory in November 2016. Losing as much as $200 million caused him to drop 220 spots in Forbes' ranking, making him the 544th richest person in the world.
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It was claimed that the shaky New York real estate market could be the one to blame for the decline of Trump's riches since Trump Organization has a huge investment in it. According to the publication, as much as 40 percent of the president's money was invested in the posh Trump Tower as well as eight other similar properties in New York City. But one of them will lose an important tenant after Nike was said to have signed a $700 million deal to move to a new location several blocks away from Trump's Niketown building. This is because the sports apparel company is the only occupant of the building.
It was also mentioned that the president's cash deflated as well after he donated $66 million to his presidential campaign fund last year. This reportedly comprised 19 percent of his total campaign budget.
The president reportedly lost another $25 million when he settled a lawsuit involving Trump University, which was said to have swindled several million from students enrolled in the institution.
But, the president is still earning money from some of his other properties, including his golf resort in Florida, Mar-a-Lago, that is reportedly worth $25 million, as well as the different Trump hotels in various parts of the world.
