Friday, 19 January 2018

Donald Trump Lost $600 Million Over Past Year

Overall, the rich are getting richer. The net worths of Jeff Bezos and Mark Zuckerberg are on the rise. Donald Trump's, however, is on the decline. Over the past year, the President of the United States' net worth has declined by $600 million to $3.1 billion and there are some solid reasons for this drop.

Trump's loss of $600 million can be attributed to a brutal real estate market in New York City, his expensive $66 million presidential campaign, and the $25 million Trump University lawsuit's settlement.

The biggest hit to Trump's net worth was to his real estate holdings. Most of his property is in New York City, where several are on or around the famed Fifth Avenue, have taken a big hit. Real estate losses account for $400 million of the decline of his net worth. Additionally, a number of his golf courses, particularly in Ireland, Scotland, and Miami have dropped in value as guests have stayed away.

A few of Trump's assets raised in price over the past year. His hotel-condo property in urban center and his stake in a very city office block saw a jump in price. Still, there have been not enough to offset his huge losses. Donald Trump had the largest loss of fortune of the highest four hundred richest yankee billionaires.

Last year, Donald Trump was the 169th richest yankee. This year he born to the 248th richest yankee. Gates is that the richest yankee for the twenty fourth year in a very row with a staggering $90 billion web price. Jeff Bezos is that the second richest yankee with a web price of $89 billion. Warren Buffett command onto the third spot with $75 billion. The four hundred richest Americans have a combined web price of $2.7 trillion.

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