Donald Trump Tumbles Nearly 300 Spots In Billionaire Ranks

Donald Trump Tumbles Nearly 300 Spots In Billionaire Ranks
Mustapha Nantie
|Apr 6, 2021,10:09am
Billionaires
Nantie86,www.news.payperlez.com, covering Donald Trump’s business.

ILLUSTRATION BY FORBES
The former president, who prides himself on his business acumen, refused to divest his assets upon taking office. Had he sold out in 2017 and reinvested in the market, he’d be an estimated $1.6 billion richer.

From the time he entered the White House in January 2017 to his departure a few months ago, Donald Trump’s fortune fell by nearly a third, from $3.5 billion to $2.4 billion. The S&P 500, meanwhile, increased 70%. 

Every investor at some point has kicked himself for holding an asset too long. Perhaps none, however, has made such a monumental miscalculation. By refusing to divest his portfolio upon taking office, Trump bogged down his presidency with ethics issues for years, while also missing a chance to cash in on a market boom he helped propel. 
If he had sold everything on Day 1, paid the maximum capital-gains taxes on the sales, then put the proceeds into a conflict-free fund tracking the S&P 500, Trump would have ended his presidency an estimated $1.6 billion richer than he is today.
Below are his four biggest losers and top two gainers. 

6 East 57th Street • New York Craig Wartga/Bloomberg
NET VALUE: $148 million 
CHANGE DURING PRESIDENCY: -$217 million 
Online shopping has wreaked havoc on buildings like this, a glitzy 65,000-square-foot space just off Fifth Avenue in the middle of what was once one of the busiest retail locations in the world. It hasn’t helped that Nike abandoned its five-story flagship in 2018. Tiffany, which has been subleasing Nike’s old space while its own Fifth Avenue hub is being renovated, is slated to vacate in 2022. 

40 Wall Street • New York 
WHAT HE OWNS: Leasehold 
TOTAL VALUE: $304 million 
DEBT: $137 million 
NET VALUE: $168 million 
CHANGE DURING PRESIDENCY: -$195 million 
Profits at Trump’s Financial District tower, home to dozens of small firms, plummeted 32% during the first three quarters of 2020, the most recent period on record. 

555 California St • San Francisco
WHAT HE OWNS: 30% stake in three-building complex 
TOTAL VALUE: $1.9 billion 
DEBT: $538 million 
NET VALUE: $422 million 
CHANGE DURING PRESIDENCY: +$102 million 
Two of Trump’s major tenants here, Goldman Sachs and Bank of America, made a show of distancing themselves from Trump after the Capitol riot. Behind the scenes, however, both re-upped their leases in Trump’s most valuable property. 

Hotel Management & Licensing 
NET VALUE: $57 milli
CHANGE DURING PRESIDENCY: -$163 million 
Trump’s branding business didn’t benefit from four years of polarization and the January 6 Capitol riot. Several licensees have dropped the Trump name from their properties, and no one seems eager to step in and replace them. “He has done permanent damage to the Trump name and image, at least for two or three decades,” concludes real estate analyst Kevin Brown. 

Trump National Doral, Miami
TOTAL VALUE: $135 million 
DEBT: $125 million 
NET VALUE: $10 million 
CHANGE DURING PRESIDENCY: -$160 million 
Business at this golf resort was already bad before the pandemic. Then revenue plunged more than 40%. With $125 million of Deutsche Bank debt coming due in 2023, rumors are circling that the Trump Organization may consider turning the property into a casino. 

Mar-a-Lago • Palm Beach, Florida 
NET VALUE: $250 million 
CHANGE DURING PRESIDENCY: +$75 million 
When the coronavirus hit, northeasterners flocked south and Floridians stayed put. Huge demand and limited supply were welcome news for the state’s homeowners, including Trump. He bought the Palm Beach club, where he decamped after leaving D.C., in 1985 for about $10 million: $5 million for the oversized home, a reported $3 million for fancy furnishings, plus another $2 million for beachfront land across the road.

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