Donald Trump’s net worth sank by $700m during presidency as pandemic and Capitol siege take toll  

Donald Trump's vast property empire is worth a quarter less than five years ago

Donald Trump’s net worth dropped by $700 million during his presidency, as the economy was ravaged by the coronavirus pandemic and his personal brand became damaged in the wake of the Capitol riot.

While still wealthy, Mr Trump’s fortune is down from $3 billion when he became president to $2.3 billion when he left office, according to the Bloomberg Billionaires Index.

But his finances could fall further still.

The 74-year-old has at least $590 million in loans due for repayment in the next four years — more than half of which he personally guaranteed. 

And his vast property empire, which makes up three-quarters of his fortune, is losing value — worth 26 per cent less now than four years ago.

To add to his concerns, Attorneys in New York are exploring possible banking, tax and insurance-related fraud committed by The Trump Organization, and a number of banks have said they will no longer work with him.

“These are the businesses you don’t want to be in right now,” said Ruth Colp-Haber, who runs office consultant Wharton Property Advisors. 

Mr Trump’s most valuable stake is a 30 per cent share in two skyscrapers in New York and San Francisco, worth a third of his entire wealth.

But with businessmen and women staying away from the office during the pandemic, the value has dropped by $80 million, to $685 million.

Elsewhere, his resorts, golf clubs and hotels have seen their revenues drop by 42 per cent since 2015, sales of his books have dropped by 87 per cent over the last five years and Mr Trump has not only missed out on the lucrative income from television series ‘The Apprentice,’ but he declined to draw the $400,000 salary as president.

To add to his concerns, the Manhattan District Attorney is exploring possible banking, tax and insurance-related fraud allegedly committed by the Trump Organization, and Deutsche Bank and Signature Bank — two of Mr Trump’s preferred lenders — have said they will no longer work with him.

His name has become toxic in some circles.

The Professional Golfers’ Association of America voted to end an agreement to host next year’s tournament at Trump National Golf Club Bedminster in New Jersey, saying holding it there would hurt the group’s brand.

After the Capitol riot, Trump Plaza in Florida’s West Palm Beach voted to drop Trump’s name.

Donald Trump’s presidency, in pictures

But ever the entrepreneur, there may still be light at the end of the tunnel for Mr Trump.

His son, Eric has floated the idea of turning one of his family’s Florida golf courses into a casino, according to the Washington Post.

“Many people consider Trump Doral to be unmatched from a gaming perspective — at 700 acres, properties just don’t exist of that size and quality in South Florida, let alone in the heart of Miami,” Eric said in an email.

“I think gambling is a good thing for Miami," the former president once said to the Miami Herald.

But it will be a battle to build.

Florida Representative Joseph Geller told the Washington Post: “This guy has bankrupted every casino he’s ever run. How do you bankrupt a casino?

“I don’t think we need a failed casino. We don’t want to be the next Atlantic City.”