What's Donald Trump's net worth? He lost 46% wealth in 7 years, now after his legal penalties he's worth…
Donald Trump's net worth has dropped to $2.6bn as he faces legal penalties on the back of defamation cases filed against him.
Former US President Donald Trump, on the journey to the White House is travelling on a path full of legal hurdles, with his wealth draining substantially over the years. According to the Forbes data, America's real estate billionaire has lost a whopping 46% of his wealth since 2016.
Significant decline in Trump's wealth
Trump, who is now worth $2.6 billion owned assets worth $4.6 million in 2016 and $3 million in 2022, according to Forbes estimates.
Trump was also out of the Forbes 400 list in October 2023, an annual ranking of America's wealthiest individuals. Trump's estimated net worth of $2.6 billion is $300 million short of the baseline to make the list.
How does Donald Trump make money?
Donald Trump's primary source of income are his real estate developments in New York to golf courses and hotels across the world. $500 million stake in 1290 Avenue of the Americas, an office building in Manhattan, is one of the largest assets of the Trump empire. He also has $600 million in liquid assets, while his Trump National Doral Miami Golf Resort is worth about $300 million, according to Bloomberg.
Why has Trump's net worth declined?
Donald Trump's net worth has taken a hit, with various factors contributing to the decline. The pandemic has adversely affected some of his real estate holdings, particularly office buildings facing reduced demand amid the surge in remote work, post Covid. This led to a decline of $170 million drop in their value.
Additionally, Trump's involvement in Truth Social, a conservative alternative to mainstream social media, played a role. Despite early projections of over 40 million users, Truth Social only garnered around 6.5 million by the end of 2023, prompting Forbes to slash its parent company's value from $730 million in 2022 to $100 million. However, with a recently approved merger between Trump Media & Technology Group and its funding partner, Trump stands to gain nearly 79 million shares, potentially worth up to $4 billion based on current stock prices, offering a potential financial upswing for the former President.
Legal penalties imposed on Donald Trump
On the back of several legal cases filed against him after his presidency Donald Trump is facing several millions in legal penalties. Last month Manhattan Judge ordered him to pay over $350 million in penalties. The ruling comes less than a month after a jury ordered Trump to pay $83.3 million in damages in a defamation case. Trump had previously been ordered to pay $5 million in damages to Carroll.
