Trump lost $500 million in wealth after self-imposed tariffs - Forbes
Kyiv • UNN
Forbes estimated that after the introduction of tariffs, Trump's wealth decreased by $500 million, reaching $4.2 billion. Trump Media and commercial real estate suffered the biggest losses.
US President Donald Trump, on April 2, by announcing his plan to sharply increase import duties, lost almost half a billion dollars of his capital. Forbes estimated his fortune at $4.7 billion. In less than a week, they dropped to $4.2 billion. This is reported by Forbes, writes UNN.
Details
Trump last week made the first "shots", provoking a global trade war. His policy has harmed markets, businesses and investors. And as a result, he himself suffered. The value of his public shares and private holdings is falling along with the market.
The largest loss of Trump's capital is concentrated in the most valuable asset - Trump Media and Technology Group, whose value has fallen by 8% in the last three trading days, reaching the lowest price since October. His stake in this business, which was worth $2.2 billion on Wednesday, is now cheaper at $2 billion. About 170 million dollars is just the beginning of his problems.
Trump's commercial real estate has lost approximately $90 million in value, assuming it has experienced the same reductions as public commercial real estate companies. Shares of Vornado Realty Trust - the firm that partners with Trump in two of his most valuable buildings - 1290 Avenue of the Americas in New York and 555 California Street in San Francisco - have fallen 14% since Trump's tariff announcement through the end of the day on Monday. The share price of another large real estate company in New York, SL Green, fell by 15%. Trump's portfolio, including Vornado real estate, Trump Tower and 40 Wall Street, is now valued at US$570 million, compared to US$660 million last week.
The American president's golf business is also losing value. A significant portion of the balls, clubs and shirts in pro shops come from abroad. However, the real threat to Trump's investment portfolio is the prospect of "tightening the belts" amid expectations of a possible recession. Club members may cut back on weddings, lavish dinners or even memberships.
If you have a recession, your wife looks at you and asks: "what are we doing with this expensive club membership?
Hotel business assets are not positioned any better. The largest for Trump is Trump National Doral, a 643-room resort in Miami, where Saudi Arabia-linked LIV Golf recently held an event that Trump himself appeared at, shortly after his stunning customs rally statements.
White House spokeswoman Taylor Rogers explained that the president is focused on the country, not the business. "President Trump has increased customs plans for the country, which have been robbing us for years, to ensure a better future for Americans for generations to come. The president's assets are in a trust managed by his children, and he is working overtime to bring the country to economic prosperity," she said.
In addition to Doral, Trump continues to own hundreds of hotel-condominiums in the Chicago and Las Vegas towers. If Trump's assets fell by 16%, Forbes suggests, he would lose another $65 million. And his much smaller licensing and management business could lose another $15 million on top of that.
Residential real estate has also fallen sharply in price - by 13%. Trump owns dozens of properties in buildings he built many years ago. If this portfolio is valued, his capital will fall by about another $20 million.
As a result, the president-businessman's most protected assets may be his numerous trophies, such as the penthouse atop Trump Tower and Mar-a-Lago.
Let us remind you
The fortunes of the world's 500 richest people at the beginning of April fell by $208 billion due to collapses in the markets caused by Trump's tariffs. Zuckerberg, Bezos and Musk were the most affected.
Instead, Warren Buffett increased his fortune by $11.5 billion this year, while other billionaires suffered losses due to Trump's customs rally.
