o approximate how much the coronavirus affected the president’s fortune, we looked at changes in the price of stocks similar to each segment of his business. Commercial real estate was clearly down, with shares of several companies, including Boston Properties and Vornado Realty Trust, plunging an average of 37% from March 1, 2020, to March 18, 2020, the date we calculated fortunes for the billionaires list.
The bottom line: a net worth valuation of $2.1 billion—a drop of $1 billion in less than a month. That will surely change again, as every index performs like an electrocardiogram. But, says New York City real estate broker Eric Anton, “The analysis, it’s as good as any other way I can think of.” The core of Trump’s empire, which the president still owns but his sons Eric and Don Jr. run on a day-to-day basis, remains tied up in commercial real estate holdings. Before the coronavirus disrupted everything, those properties were worth an estimated $1.9 billion after deducting debt. By March 18, 2020, that was down to an estimated $1.2 billion. Part of the problem: Trump owns 125,000 square feet of retail real estate near Fifth Avenue in Manhattan, typically a bustling retail corridor.
The impact on Trump’s golf course portfolio depends largely on how long coronavirus keeps the economy shuttered. The good news, for golf investors, is that it’s easy to socially distance on the links. The bad news is that pricey clubs don’t tend to do well in recessions. “The first thing that gets cut out of the diet is the golf budget,” says Jeff Davis, managing director of golf brokerage firm Fairway Advisors.
DanAlexander21 I see you still haven’t figured out how to find and count his debts, or how to verify the ultimate ownership of the properties he puts his name on. He’s a property manager, nothing more.
DanAlexander21 Poor dude :c
DanAlexander21 That sounds like $2,099,999,999.99 too much.
DanAlexander21 Don't cry for Trump. His daughter & son-in-law are into plenty of dirty deals using his connections. Netflix = Dirty Money = Slumlord Episode = Kurshner = SCUM!!!
DanAlexander21 Let's hope he has an emergency fund!
DanAlexander21 Who gives a sh*t
DanAlexander21 Deduct $1 billion for stupidity?
DanAlexander21 TRUMP2020
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Source: Forbes - 🏆 394. / 53 Read more »
Source: Forbes - 🏆 394. / 53 Read more »