Monday, 27 March 2017
Forbes estimates that president Donald Trump is worth
$3.5 billion -- $200 million poorer today than he was before the
election and 220 spots lower, to number 544, on the worldwide rankings.
According
too Forbes, forty percent of Donald Trump's fortune is tied up in Trump
Tower and eight buildings within one mile of it. What happens in that
micromarket does more to affect the net worth of Donald Trump than
anything else in the world.
Lately,
the neighborhood has been struggling (relatively speaking). Net
operating profits have fallen at Trump Tower. Nike, the lone tenant at
the Trump-owned Niketown, just signed a reported $700 million deal in
December for a spot a few blocks south, suggesting its days at its
current location may be numbered.
Trump’s
cash pile took a hit as well. Public records show that he donated $66
million to his presidential campaign, 19% of its total budget. Ten days
after he won the election, he settled a lawsuit over Trump University,
which prosecutors say swindled millions from its students, for an
additional $25 million. Assuming Trump sold off all of his stocks during
last year’s campaign, as he has claimed, the president likely missed
out on the “Trump rally” that has lifted the stock market roughly 10%
since his election.
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