President Trump’s net worth slipped by $100 million over the last year, according to an analysis by Bloomberg.
Bloomberg reports that Trump’s current net worth is estimated at $2.8 billion, compared to $2.9 billion last June, and is the lowest his net worth has been since Bloomberg started tracking it in 2015.
The Bloomberg Billionaires Index used data from lenders, property records, annual reports, market data and Trump’s financial disclosure to calculate Trump’s net worth. {mosads}
A spokeswoman for the Trump Organization criticized Bloomberg’s methodology for assessing real estate data to estimate Trump’s net worth, saying in a statement to the outlet that it reduced “the value of our prime New York real estate assets” by not taking into account that Trump buildings are in desirable neighborhoods that affect property values.
Bloomberg reports that Trump’s net worth could be higher if he has assets or has received payments that are undisclosed, and could be lower if he has secret debts or if some companies are unprofitable.
The biggest declines in Trump’s wealth reportedly came from Trump Tower and an adjacent building in midtown Manhattan. According to Bloomberg, the decline totaled $220 million and was due in part to lower occupancy.
Trump’s golf and resort properties saw a $70 million drop, including at Trump’s Doral, Palm Beach and Mar-a-Lago clubs in Florida. The president’s other golf courses in Scotland and Ireland, however, posted revenue gains over the last year
In total, the golf clubs are worth around $650 million, according to Bloomberg.
Trump broke with tradition when he did not divest from his business empire after taking office. Instead, he placed his company in a trust controlled by his two sons.