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Has coronavirus really cost Donald Trump US$1 billion – and how does he spends what’s left of his vast fortune?

Say what you want about this controversial US president, but Donald Trump seems to be generous with his money. Photo: AP

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

President Donald Trump speaks at a recent campaign rally in Tulsa, Oklahoma. Photo: AP

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.

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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

While running for the presidency Trump emptied out US$66 million from his own pockets to fund his campaign according to campaign finance disclosures examined by Reuters.

He made history as the first billionaire to serve as US president

US President Donald Trump is the first billionaire to hold the office. Photo: Reuters

Between January 2016 though the spring of 2017, Trump raked in between about US$597 million and US$668 million, according to a public financial disclosure report.

He donates his presidential salary of US$400,000 to government departments

President Donald Trump at work in the Oval Office. Photo: AP

So far, Trump has donated his salary instead of keeping it as he promised during his presidential campaign.

In 2017, he donated the first three months of his salary to the National Park Service. Since then, he’s given his quarterly salary to the Department of Education, the Department of Agriculture and other government entities.

Trump gave his fourth-quarter 2019 salary, or US$100,000, to the Department of Health and Human Services to help combat the coronavirus, the White House Press Secretary announced in March.

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Trump’s presidential salary is a drop in the bucket compared to the rest of his income

Revenue from his New York City real estate alone accounts for more than US$1 billion of his net worth, according to Forbes.

Sales from Central Park Carousel admission and ice skating rink operations combined add up to more than US$13 million in annual revenue

Wollman ice rink Rink in New York's Central Park. Photo: AP

US$170 million of his total net worth is generated from the Trump brand and licensing alone

A woman carries a bag from The Trump Store on 5th Avenue in the Manhattan. Photo: Reuters

Hundreds of millions of dollars are generated from golf clubs and real estate outside New York City

Trump’s Mar-a-Lago club in Palm Beach is valued at US$160 million.

The Mar-a-Lago club, where US President Donald Trump frequently plays golf. Photo: Reuters

It became even more exclusive after Trump became president. You now need to shell out US$200,000 for initiation fees to join, up from US$100,000 from before the election. The 20-acre estate is often called the winter White House.

It has 128 rooms and spans the entire width of the island Palm Beach is located on, stretching from the Atlantic Ocean to the Intercoastal Waterway.

The perks afforded to you at the resort include a 27-hole golf club, a luxury spa, tennis courts and two acres of private beach.

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In 2011, Trump paid US$6.2 million for a winery and vineyard in Charlottesville, Virginia

He later sold the property, now known as Trump Vineyard Estates, to his eldest son, Eric. The winery, located in the hills outside Charlottesville, Virginia, includes a hotel and serves as a wedding venue.

According to Forbes, his cash and personal assets are roughly US$160 million of his net worth

That includes his massive personal aircraft fleet which he used to travel during his election campaign.

President-elect Donald Trump boards one of his plane. Photo: AP

Trump reportedly bought a Boeing 727 in 2010 from late Microsoft co-founder Paul Allen for US$100 million. The aircraft burns fuel at a rate of thousands of dollars an hour.

He also owns a Cessna, a jet known for its low operating costs and high performance. It was reportedly worth US$15.3 million bought new and US$3.2 million second-hand in 2016. The other aircraft in Trump's fleet include three Sikorsky S-76, helicopters known for their ease-of-use. Previously owned Sikorsky S-76 usually sell for US$5 million to US$7 million.

With the S-76 he bought in 2014, Trump had the whole interior gutted and redone with 24-carat gold-plated hardware, from the seat belts and handles to his family crest emblazoned on the side of the aircraft. All of the gold embossment cost Trump an estimated US$750,000.

Trump has also shelled out for luxury cars

Over the years, he has reportedly owned a vintage Rolls-Royce Silver Cloud, a Rolls-Royce Phantom, which starts at US$500,000, a Ferrari, a Mercedes-Benz 3600 and a Maybach.

He also reportedly bought First Lady Melania Trump a US$455,000 SLR McLaren.

Trump spent US$30 million for a 100-cabin yacht in the 1980s and called it Trump Princess.

A close-up of the Trump Princess crossing Victoria Harbour. Photo: SCMP

Trump has a penchant for suits made by Italian brand Brioni

Donald Trump poses with the new Donald Trump talking doll back in 2004. Photo: AFP

The luxurious suits sell for anywhere between US$5,250 and US$6,900.

During his tenure on the reality show The Apprentice, Brioni supplied Trump with suits to wear on air, but while campaigning he started paying for them himself.

Trump’s assets also include a number of personal residences

His three homes near Mar-a-Lago in Palm Beach, Florida, are valued at US$25 million. They’re technically valued at US$36 million, meaning Trump has an estimated US$11 million worth of debt on them, according to Forbes.

Trump sold his home in Beverly Hills, California, for US$13.5 million. He bought the five-bedroom, Tudor-style home in 2007 for US$7 million, according to The Los Angeles Times. He sold it in January 2019.

His St Martin island abode in the West Indies is valued at US$13 million. The beachfront estate, which Trump bought in 2013 for an undisclosed price, has nine bedrooms, 12 full bathrooms, a heated pool, a fitness centre, a tennis court and an outdoor bar.

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Trump’s Seven Springs private estate in Bedford, New York, is valued at US$24 million. He bought it in 1996 for a reported US$7.5 million. The mansion, which is located about 45 miles north of New York City, sits on 213 acres and reportedly boasts an indoor pool encased in marble, 60 rooms, 12 baths, two servant wings and a bowling alley.

Trump Tower penthouse in the heart of Manhattan is valued at US$54 million

Trump Tower stands along 5th Avenue in Manhattan. Photo: Getty Images/AFP

Trump has reportedly said the penthouse spans 33,000 square feet, but city records show that it’s actually closer to 10,996 square feet, according to Forbes.

The penthouse, which is reportedly adorned in 24-carat gold and marble, was valued as high as US$100 million in 2016.

Trump pays for his children's schooling

US President-elect Donald Trump with his son Barron and wife Melania. Photo: AFP

Son Barron’s tuition at New York’s Columbia Grammar and Preparatory School was US$40,000 a year.

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When Trump’s election brought his family and Barron to Washington DC, Barron transferred to St Andrew’s Episcopal School in Maryland, where tuition is also about US$40,000 a year.

He also reportedly paid daughter Tiffany’s way through college and graduate school. She has just graduated from Georgetown Law School, which costs upwards of US$58,000 a year. She enrolled in 2017 and graduated in May 2020.

His divorce from first wife Ivana cost Trump a pretty penny

Donald Trump and his then wife Ivana in New York, December 1989. Photo: AFP

In addition to the initial US$10 million from the divorce settlement, she received the 45-room mansion in Greenwich, Connecticut that the couple had shared, an apartment in Trump Plaza, US$300,000 a year in child support and annual alimony of US$350,000.

Trump donated US$1 million of his own money to Hurricane Harvey relief in 2017

US President Donald Trump carries emergency supplies following Hurricane Harvey. Photo: Getty Images/AFP

And in 2009, he and Melania donated between US$5,000 and US$9,999 to the Police Athletic League of New York City.

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This article originally appeared on Business Insider.

Donald Trump

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