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Donald Trump’s nightmare 2021: from losing US$300 million due to Covid-19 to golf club tantrums and Twitter bans, the former US president isn’t having a great year – and it’s only April
STORYLynn Farah
- After losing the US presidency to Joe Biden and leaving the White House, Trump is spending his time playing golf and gossiping at Mar-a-Lago in Florida
- He’s still banned from Facebook, but spokesperson Jason Miller says he might launch his own social media platform
Donald Trump may be the picture of wealth as he dons his signature golf clothes and works on improving his short game, but trouble is looming for the former US president. He is facing a barrage of lawsuits, is under financial pressure and his temper certainly hasn’t mellowed – he was recently busted on camera losing his cool on the golf course.
Here’s a glimpse of how the first three months of 2021 have looked for Trump.
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The big wealth drop
The former US president’s net worth declined by almost US$300 million in the past year according to Bloomberg. The drop amounts to 10 per cent of his fortune since he took office, putting his net worth now at around US$2.7 billion. The drop has been attributed to the impact of the coronavirus pandemic on property markets globally. The Trump office buildings, branded hotels and resorts lost revenue and property values as a result.
Mounting legal problems
As Trump’s wealth gets hit by the pandemic, his legal problems also continue to grow. The Washington Post counted that he faces at least 29 pending lawsuits involving him or one of his companies. CNN reports that his tax records are now also being investigated, with his bankers, lawyers and chief financial officer being subpoenaed.
Trump raised more than US$31 million for his post-presidential action committee, the funds of which can be used to help pay legal bills. But with more threats of lawsuits, Trump may have to dig into his own personal pocket to defend himself.