The crisis drastically reduced the endless money of the US President
In the past month, malicious US President Donald Trump’s assets plummeted by $ 1 billion due to the coronovirus epidemic and a decline in activity in some sectors of the economy. A month ago, experts estimated the president’s condition at $ 3.1 billion, now a much lower figure – $ 2.1 billion.
The capitalization of Trump’s assets was analyzed based on changes in stock prices in the segments in which his companies operate. In particular, it is commercial real estate. In March, shares of several development companies, including Boston Properties and Vornado Realty Trust, lost 37% on average and a large proportion of Trump companies operate in the region.
The most serious losses were caused by commercial and office real estate in New York and San Francisco. During the month, it lost $ 700 million in value, dropping its valuation from $ 1.9 billion to $ 1.2 billion. Trump-owned residential real estate in five states fell from $ 235 million to $ 148 million.
The hotel business, which includes a hotel in Washington and a resort in Miami, reacted worse: the capitalization of these facilities fell from $ 107 million to $ 38 million in the month.
An epidemic does not go without consequences for the President’s Golf Club, whose income fell from $ 271 million to $ 217 million. Trump’s luxury estates and other estates fell from $ 348 million to $ 295 million.
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Recall, due to coronovirus epidemic, economic activity in the United States suspended by 29%.
It is noted that the actual extent of the impact of the outbreak on the economy cannot be estimated in the coming years. However, economists have already announced an unprecedented suspension of trade due to government measures.
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By content: Forbes