Forbes - USA (2020-10)

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t has been a tough year for President Trump.

On top of impeachment and the pandemic,

his net worth has dropped an estimated $600

million since last September, to $2.5 billion.

That puts him at No. 339 on The Forbes 400,

down 64 spots from a year ago.

Blame the coronavirus, which has battered not only the

president’s poll numbers but also the very industries in which

he holds his biggest assets. Values for offi ce buildings have

plummeted. Same with hotels, particularly ones in big cities.

Trump has signifi cant debt against his properties in D.C. and

Chicago, both of which appear to be underwater these days.

Doral, his golf resort in Miami, is worth $28 million, after

accounting for its mortgages, down 80% in a year.

There are some bright spots in the portfolio, including

garages. Trump has about 350 parking spaces in Manhattan,

a nice investment at a time when people are scared to ride the

subway. He also still owns the Mar-a-Lago Club in Florida

and three nearby homes—prime properties in normal times

but especially now that New Yorkers are fl eeing the city and

driving up prices in Palm Beach.

FORBES.COM OCTOBER 20 20

The billionaire-in-chief’s net worth

plummets nearly 20%.

TRUMP’S

TUMBLE

The Forbes 400

I

34

F

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N

ER

Book Value

Leaders from the

worlds of business,

academia,

entertainment and

politics share

what’s on their

bedside table.

Kendra Scott

Chairman and

founder of her

eponymous jewelry

company

The Alchemist

(HarperOne, 1988)

is about a young

shepherd who

travels to seek

treasure buried

near the pyramids

of Egypt. It’s a

timeless story that

shows how success

isn’t always linear.

I was fi rst given

the book when I

graduated from

high school; I

picked it up again

when I was going

through a lot of

hardship. One

resonant quote:

“The secret of life

is to fall seven

times and to get

up eight times.”

The Alchemist

interprets this

beautifully, making

the point that

there is nothing we

can’t overcome. At

this moment, it’s

hard to understand

why this is all

happening. But

the lessons we’re

learning will make

us come out even

bett er as a planet

and as one people.

The Alchemist

By Paulo Coelho

555 California Street

San Francisco

WHAT HE OWNS:30% stake in

three-building complex

TOTAL VALUE: $2 billion

DEBT: $546 million

NET VALUE: $442 million

CHANGE SINCE 2019:ª$35 million

1290 Avenue of the Americas

New York City

WHAT HE OWNS: 30% stake in offi ce

and retail space

TOTAL VALUE: $2.1 billion

DEBT: $950 million

NET VALUE: $342 million

CHANGE SINCE 2019:ª$109 million

40 Wall Street

New York City

WHAT HE OWNS: Ground lease

through 2059

TOTAL VALUE: $401 million

DEBT: $139 million

NET VALUE: $262 million

CHANGE SINCE 2019:ª$65 million

Mar-a-Lago

Palm Beach, Florida

WHAT HE OWNS: 100% of

private club

NET VALUE: $180 million

CHANGE SINCE 2019:©$10 million

Trump Tower

New York City

WHAT HE OWNS: 244,000 square

feet of retail and offi ce space

NET VALUE: $167 million

CHANGE SINCE 2019:ª$70 million

Trump National Doral Miami

TOTAL VALUE: $153 million

DEBT: $125 million

NET VALUE: $28 million

CHANGE SINCE 2019:ª$114 million

Trump International Hotel

Washington, D.C.

WHAT HE OWNS: 77.5% stake in

ground lease

TOTAL VALUE: $168 million

DEBT: $170 million

NET VALUE: –$2 million

CHANGE SINCE 2019: ª$66 million

Trump International Hotel &

Tower Chicago

WHAT HE OWNS: Retail, portion of

residential space

TOTAL VALUE: $86 million

DEBT: $95 million

NET VALUE: –$9 million

CHANGE SINCE 2019:ª$13 million

Change in value is from September 6,

2019, to July 24, 2020.

TRUMP OWNS MORE THAN

THREE DOZEN SIGNIFICANT

ASSETS, WORTH $2.5 BILLION.

THESE EIGHT HAVE EXPERIENCED

BIG SWINGS IN VALUE OVER

THE LAST YEAR.

PRESIDENTIAL

PROPERTIES