His four years in the White House cost Donald Trump about a third of his fortune. Deutsche Bank no longer wants to do business with the ex-president.
- Donald Trump has to accept losses in various business areas.
- In his time as US President lost Trump just under a billion US dollars.
- All the news about the 45th President of the USA can be found in Trump News.
Palm Beach, Florida – IF Donald Trump In his golf resort Mar-a-Lago counts his fortune, then he finds numbers that shouldn’t please him. Since it moved into the White House, it has shrunk by almost a billion US dollars. According to the “Bloomberg Billionaires Index“Is trumps Net worth dropped from $ 3 billion when he was elected President in 2016 to $ 2.3 billion.
“Bloomberg” analyzes Donald Trump’s fortune
The “Bloomberg” online magazine devotes itself to extensive research into the value of the former US president’s ventures and comes to the conclusion: Trump’s “Reich” is sick. The business journalists cite the reasons for this: both the corona pandemic and the Donald Trump had said that it would “disappear by itself” in a very short time, as well as “damage to his brand”, which was also due to the storm on the US Capitol on January 6, 2021.
Sophie Alexander and Max Abelson’s team examined official financial announcements from the Trump companies, interviews with former executives and industry analysts, and a large number of legal disputes and investigations. What came out of their research should Donald Trump dislike.
Donald Trump is experiencing significant rental and catering losses
First of all, there are his real estate such as office buildings, hotels and resorts. The corona pandemic is causing a significant loss of income from renting rooms and rooms. In addition, affiliated restaurant and catering businesses suffer from the decline in overnight and day visitors. In addition Donald Trump has to repay at least $ 590 million in loans over the next four years – the former US president is personally liable for more than half of them.
But the losses from four years of presidency also have advantages for Donald Trump. Following the corona pandemic, the value of his real estate could recover significantly – and until then it would be possible for Trump to use losses and depreciation to reduce his tax burden, as he has always liked to do. Since moving out of the White House, new business areas have also been open to him. Most recently, there was speculation about the development of its own digital news service and its own social media platform. A return to the stage as a TV star could also pay off Trump well.
Donald Trump: Owners cannot get rid of apartments in Trump Tower
„Bloomberg“Analyzes Trump’s entrepreneurial activities separately from one another. First of all, there are his commercial properties. These are currently valued at $ 1.7 billion with concurrent liabilities of $ 256.8 million. Together they make up around a quarter of his net worth. Ruth Colp-Haber, head of the consulting agency “Wharton Property Advisors”, warns of further losses: “These are the companies in which you do not want to work at the moment.” Donald Trump 26 percent in this business area since 2016.
In addition to Trump’s most profitable office towers in New York and San Francisco, the losses also affected his personal monument – the Trump Tower in New York City. Rents there have fallen by 32 percent since 2018 in the wake of the corona pandemic. Various apartment owners: inside report to “Bloomberg“That they will not get their apartments in Trump Tower sold – despite some” strong discounts “.
|capital||$ 2.3 billion|
|Business areas (selection)||Real estate, hotel operations, licensing|
Deutsche Bank announces that it will no longer do business with Donald Trump
Another business area that is currently groaning under the consequences of the pandemic is Trump’s hotel and resort division. Overall, it is valued at $ 558.9 million. An income of 90.8 million is offset by liabilities of 330 million. In the years between 2015 and 2020, revenues fell by 42 percent. Donald Trump personally vouched for the entire amount of liabilities with his last Private wealth. The former president was forced to do so after Deutsche Bank, one of its largest lenders, announced that it would no longer do business with the man whom both the House of Representatives and the Senate of the world after the storming of the Capitol USA the majority had stated that they had instigated the unrest.
Trump’s golf resort and retreat, Mar-a-Lago, continues to be successful. In 1985 he bought the property on the Atlantic coast for 10 million US dollars, in 2015 the income there alone was 22.3 million. The golf club members pay $ 250,000 annually to stay close to the real estate mogul. And only a few can be dissuaded from this – in the past year the income even amounted to 22.9 million. It is not yet possible to predict exactly how the incidents of January 6, 2021 will affect the balance of the current place of residence of Donald Trump will have an impact, but some media reports already tell the story of a sad, abandoned place.
The Donald Trump brand is losing value, the hotel is deleting its name
But not only earned in Mar-a-Lago Donald Trump Money with golf. Overall, its golf resorts and golf courses, scattered around the world from Scotland to Dubai, are valued at US $ 271.7 million. $ 108.3 million in revenue contrasts with liabilities of 18 million and a revenue loss of 18 percent between 2015 and 2020. According to industry expert Mike Loustalot, co-founder of “Sagacity Golf”, the number of rounds played on Trump’s green spaces last year was higher than ever before. But things are not all going well in Trump’s golf division either. British records show that two of its courses in Scotland, Trump Turnberry and Aberdeen, are consistently losing.
The licensing of the brand is particularly bad Donald Trump. With that alone, the former president continues to record $ 22.7 million, but the revenue from using his name for real estate projects, hotels in Indonesia, condominiums in Connecticut and men’s clothing at Macy’s plummeted by 30 percent between 2015 and 2020. After the uprising in Washington, for example, the owners of Trump Plaza in Florida’s West Palm Beach decided to delete the Republican’s name.
Donald Trump loses revenue from luxury real estate and book licenses
It looks particularly bitter for Donald Trump in the field of “other properties”, which include, for example, a wine-growing region and various luxury properties. A valuation of $ 375.9 million and $ 9.9 million in revenue contrasts with liabilities of $ 25.6 million and a whopping 85 percent decline in income between 2015 and 2020. The situation is similar with Trump’s own fleet of aircraft, which also includes a Boeing 757. Trump gradually sold several of the aircraft, some of which were decades old, and reduced the inventory from seven aircraft, each costing at least 59 million US dollars, to just five – the cheapest would be available for around 6.5 million. With an overall valuation of $ 31 million, this division posted a 59 percent loss from 2016 to 2021.
The view of Trump’s entertainment division turns out to be even worse. His income from license fees for books fell by 87 percent from 2015 to 2020 to only 119,000 US dollars, the income from show formats such as “Miss America” (sold in 2015), “The Apprentice” and guest appearances in films and series such as “Sex and the City ”and“ Kevin Alone at House 2 ”are now only $ 350,000 in 2020 – 99 percent less than in 2015. After the Capitol uprising, the Screen Actors Guild was considering revoking Trump’s membership. the entrepreneur anticipated the expulsion by leaving. (Mirko Schmid)