Has coronavirus really cost Donald Trump US$1 billion – and how does he spends what’s left of his vast fortune?
Reports suggest the first billionaire US president has lost a third of his wealth due to the pandemic’s impact on industries like hospitality and commercial real estate
Donald Trump is the first billionaire president in US history. According to Forbes, he’s worth an estimated US$2.1 billion.
That’s a US$1 billion drop since before the coronavirus pandemic, which has devastated industries Trump does business in such as hospitality and commercial real estate.
He donates his US$400,000 presidential salary to various governmental entities, but Trump still rakes in millions of dollars annually from his businesses. From emblazoning a private helicopter in 24-carat gold to a 100-cabin yacht dubbed Trump Princess, here's how the real-estate titan spends his fortune.
Donald Trump is worth an estimated US$2.1 billion
As recently as March, Trump was worth an estimated US$3.1 billion, but his fortune took a US$1 billion hit due to the coronavirus pandemic.
The hospitality and commercial real estate industries have suffered in particular during the pandemic.
The president’s wealth is centred around his commercial real estate holdings, which were worth an estimated US$1.9 billion before the coronavirus and after deducting debt, according to Forbes. By the end of March 2020, their valuation was down to US$1.2 billion.
The Trump Organisation did not respond to Business Insider’s request for a comment on Trump’s net worth.
During his presidential campaign, Trump claimed he had a net worth of US$10 billion – three times as much as it really was