Did Donald Trump’s presidency really lose him US$700,000? He may still be a billionaire, but The Trump Organisation bled money during Covid-19 and now his net worth is down

Mar 19 , 2021

Donald Trump’s business empire is ailing, having lost US$700 million in the four years he was president. Photo: @bloomberg/Twitter

Most former US presidents, including Barack Obama, George Bush and Bill Clinton, make bank after leaving the White House – but not Trump

He’s now worth US$2.3 billion according to the Bloomberg Billionaires Index, as brands like PGA of America have distanced themselves from him

Donald Trump’s net worth dropped from US$3 billion to US$2.3 billion over the course of his presidency, according to the Bloomberg Billionaires Index.

Since – in theory at least – stepping away from The Trump Organisation, the impact of the pandemic, as well as two impeachments, have wreaked havoc on Trump’s estimated 500 businesses – even as his dozens of visits to his properties while in office helped him rake in millions from security details and more.

Then-US president Donald Trump waves to the media outside the White House in Washington in January 2021. Photo: AFP

In January, public relations expert Eric Schiffer told us that Trump’s businesses might never recover from his presidency.

“Trump will exit the presidency with a brutal set of targets surrounding the heart of his brand, which will be a danger to his survival economically and that of his children, and likely will lead to excruciating pain of the type he has really never faced,” he said.

Trump will exit the presidency with a brutal set of targets surrounding the heart of his brand

Eric Schiffer, public relations expert

About 75 per cent of Trump’s income comes from commercial real estate, according to Bloomberg. The work-from-home boom has made the business more precarious than ever as companies look to reduce their office space.

NYPD officers stand guard by their bicycles as demonstrators protest against then-president Donald Trump and government policies near Trump Tower in Manhattan, New York, in November 2019. Photo: Reuters

The cities where Trump has most at stake – New York and San Francisco – have also been hit the hardest. The valuation of Trump’s commercial real estate business is down over 25 per cent from when he started his presidency, Bloomberg reports.

Trump’s line of resorts and hotels have also suffered from Covid-19 travel restrictions, their value falling over 40 per cent from 2015 to 2020, according to Bloomberg data.

One potential bright spot may be Lido City, a planned resort development outside the Indonesian capital of Jakarta, complete with a studio that aims to be Asia’s answer to Hollywood and – what else? – a golf course.