WASHINGTON, DC - AUGUST 16: Barron Trump, US President Donald Trump and First lady Melania Trump walk on the South Lawn of the White House on August 16, 2020 in Washington, DC. Robert Trump, 71, the younger brother of the president, died Saturday in Manhattan (Image: Getty)
A new analysis revealed that former President Donald Trump’s net work has decreased from $3 billion to $2.3 billion over the last few years. That’s approximately $700 million in the years between becoming president to losing his re-election bid.
According to Bloomberg, the pandemic has hurt his hospitality and real estate business. Even though Trump’s properties are valued at $1.7 billion, he has more than $256 million in commercial real estate debt.
Bloomberg called The Trump Organization’s financial stake in resorts and hotels to be in “sad” shape. It has dropped 42 percent in value since he launched his presidential bid in 2015.
Trump has $330 million in debt in that sector, but longtime lender Deutsche Bank said it wouldn’t continue to support Trump after the Jan. 6 capitol riots. They are among many other organizations to cut ties with Trump after the riots.
Trump’s second-oldest son, Eric Trump, who took over operations for the Trump Organization alongside older brother Donald Trump Jr., responded to the report. Eric blamed his family’s fallout on “cancel culture.”
“Bloomberg’s valuation is a joke,” Eric said. “We have the best assets in the world, have extremely low debt relative to our holdings and have [an] incredible strong cash flow.”
Trump’s book deal finances dropped roughly 87 percent since 2015, earning him about $119,000 in 2020.
Trump’s few gains came from Mar-a-Lago Club in Palm Beach, Florida, and the Trump Winery in Charlottesville, Virginia. Mar-A-Lago earned $22.9 million in 2020 compared to $22.3 million in 2015.
Trump’s income from the entertainment sector also dropped about 99 percent since 2015. Trump is also facing many legal issues following the end of his presidency.
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