President Donald Trump’s net worth has fallen since his presidential campaign, indicating his office isn’t serving to enrich the billionaire personally.
Trump’s net worth dipped to $2.8 billion, down from $2.9 billion in 2017, according to a Bloomberg estimate of the president’s May 16 financial disclosures. That’s the lowest Bloomberg has seen the former real estate mogul’s wealth since 2015.
While the $100 million decline in net worth indicates Trump isn’t getting rich of his presidency, that doesn’t mean his status as leader of the free world isn’t serving certain parts of his real estate empire.
The Trump International Hotel that occupies the old post office building in Washington, D.C., attracts big-spending world leaders and foreign delegations, as well as conferences and event rentals. (RELATED: Trump’s DC Hotel Was Supposed To Lose Money. It Made $2 Million In 4 Months)
The Trump Hotel is also one of the few Trump enterprises that has been profitable in the past few years. The Trump Organization’s real estate holdings around the world took a hit over the past few years, but those losses were offset by increased valuations at the Trump Hotel and elsewhere. The hotel, for instance, jumped $30 million to be valued at $100 after posting $40 million in profits.
Other Trump properties, like his Fifth Avenue high-rise and golf courses, lost revenue in the past few years. The 16 golf courses lost value of around $70 million, but the Ireland and Scotland properties gained value. Notably, the Doral, Palm Beach and Mar-a-Lago resorts in Florida — which the press refers to as Trump’s Winter White House — lost revenue.
Trump famously donates his presidential pay to the U.S. government, with his most recent $100,000 quarterly salary going to the Department of Veterans Affairs.
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