President Donald Trump has
dropped down the latest Forbes 400 Rich List, and is now only the 275th richest
person in America
– 119 places lower than before he became president.
Forbes estimates that Donald Trump is still worth $3.1bn, but that this is the second straight year his fortune has remained flat in their rankings, in times when many of his billionaire peers have become richer.
The report explains that
while some of Trump’s real estate investments have gained in value this year,
and he has added $10m to his fortune thanks to properties from his portfolio
managed and sold by his sons, his branding and real estate licensing business
are in decline.
Forbes say: “Not that Trump’s fortune is static. His branding businesses, for instance, are in steep decline. Real estate developers are no longer signing up to put the Trump name on their properties, and existing customers have scraped the brand from projects in places like Toronto and Panama. Forbes estimates that Trump’s real estate licensing business, which is further limited by his pledge not to do foreign deals while in office, is worth about $80m today, down from $170m a year ago.”
Donald Trump’s business empire is of course a complex one, and as Forbes point out difficult to analyse. However, it would seem to be the case that his time as president has proved to be quite costly from a business point of view.