Donald Trump 'poorer' as US President
(Baonghean.vn) - President Donald Trump's days in the White House did not make the billionaire President any richer. The billionaire rankings recently published by Forbes magazine even suggested that becoming President of the United States has reduced the amount of assets that Mr. Trump owns.
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| US President Donald Trump currently has assets worth 3.12 billion USD. Photo: AP |
President Trump's fortune remained virtually unchanged from 2017 to 2018 at $3.12 billion. President Trump is now ranked 259th among American billionaires, down 11 places from 2017 (in 2017, Trump was ranked 248th).
Analysts say Trump’s fortune has dropped by a third since 2015 ($4.5 billion). According to Forbes, the decline is the result of Trump’s campaign spending and a downturn in the New York real estate market, especially demand for luxury housing.
It is known that Mr. Trump became a billionaire thanks to investing in real estate. Specifically, he invested in building many high-rise towers in Manhattan, all of which bear his name.
Before his inauguration, Mr. Trump’s attorney pledged that there would be no foreign franchise deals while President Trump was in office, a move that has reduced the company’s potential for business growth.
Forbes estimates that if Trump had chosen to sell his shares and invest in trust, his current fortune would have increased by more than $500 million. Of course, although his fortune has decreased since taking office, Trump is still the only US president who is a billionaire.
