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Donald Trump’s net worth sinks $600 million to $2.5 billion on new Forbes rich list as impact of coronavirus shutdowns hits his hotels and property empire
- President Donald Trump’s net worth is down $600 million from last September and has fallen 64 spots lower on the Forbes 400 list
- The president is now worth $2.5 billion and ranks No. 339 on the list
- Trump’s sector, commercial real estate and hotel properties, have been negatively impacted by the coronavirus pandemic
- The biggest loser among his properties was the Trump National Doral Miami, down an estimated $114 million, according to Forbes
- At the same time, his other Florida properties, including the ‘winter White House,’ Mar-a-Lago, are up as people are seeking more outdoor-friendly locales
President Donald Trump’s net worth is down $600 million from last September and he’s fallen 64 spots lower on the Forbes 400, the magazine reported Tuesday.
The president is now worth $2.5 billion and is No. 339 on the list.
Trump’s sector, commercial real estate and hotels, has been aversely impacted by the coronavirus crisis, with his Miami golf property, Trump National Doral Miami, taking the biggest hit – down an estimated $114 million.
President Donald Trump’s net worth is down $600 million since last September as his business asset have been hit by the coronavirus pandemic, according to Forbes
The president’s retail business at Trump Tower is down $70 million and even his penthouse apartment has taken an estimated $9 million dip
Trump’s Miami golf property, Trump National Doral Miami, took the biggest hit over the last year, down an estimated $114 million
A view of the clubhouse at the Trump National Doral Miami. This particular property looks to be the biggest trouble spot, according to Forbes’ reporting
Trump’s Mar-a-Lago is a bright spot in his portfolio as Americans have flocked to more outdoors-friendly places like Palm Beach, Florida, due to the pandemic. The private club is up $10 million
Office properties, like Trump’s 30 per cent stake in 1290 Avenue of the Americas in New York City, have taken a hit, with this particular property an estimated $109 million down
It’s now worth an estimated $28 million, once mortgages are accounted for.
That’s an 80 per cent decrease in one year.
Office properties, like his 30 per cent stake in 1290 Avenue of the Americas in New York City, are taking a hit with many Americans working from home.
That piece of property is down an estimated $109 million since last year.
The office portion of Trump Tower is down $70 million, Forbes estimated.
And Trump’s penthouse in Trump Tower is also down, by an estimated $9 million.
Forbes reported that Trump’s properties in D.C. and Chicago – where he was significantly in debt to begin with – are ‘underwater these days.’
The Trump International Hotel in D.C., located steps from the White House, is down an estimated $66 million. And it’s now valued at a negative $2 million because of the debt owed.
The Trump International Hotel & Tower Chicago is down $13 million in a year and is valued at a negative $9 million because of the debt owed on the property
The Trump International Hotel Washington, D.C. is ‘underwater’ because of all the debt owed on the property, which the president’s family leases from the federal government. It’s worth, according to Forbes, a negative $2 million and is down from last year $66 million
The Trump International Hotel Las Vegas is down an estimated $10 million, according for Forbes. The president owns a 50 per cent stake in certain condo-hotel units in the property located steps away from the city’s famous strip
The Trump International Hotel & Tower Chicago is down $13 million in a year and is valued at a negative $9 million for the same reason.
The Trump International Hotel Las Vegas is down $10 million. The president owns a 50 per cent stake in certain condo-hotel units.
It’s not all bad news for the president, however.
Mar-a-Lago, the ‘winter White House’ in Palm Beach, Florida, is up $10 million. Trump’s three nearby Florida homes are also seeing an increase.
These upticks are likely because Americans have been flocking away from major cities like New York and to more desirable, outdoors-friendly locations.
Forbes reported that Trump’s Manhattan buildings that include parking spaces are doing well, because New Yorkers fear taking the subway due to the pandemic.
And while his golf clubs are slightly down, seven U.S. properties – including his Bedminster, New Jersey club where he summers and the Virginia-based club that Trump spent time at this weekend – are only collectively down $11 million.
That number excludes Doral.
They’re still worth approximately $181 million.
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