Connect with us

Hi, what are you looking for?

Business News

FORBES | Donald Trump’s Fortune Falls By $800 Million, Now Worth $3.7 Billion

Despite decades of precedent among presidential candidates, Donald Trump has been steadfast in his refusal to release his tax returns. “You don’t learn that much from tax returns,” he said at the first presidential debate on Monday, where he claimed that he has been getting audited by the IRS almost every year for 15 years. “You will learn more about Donald Trump by going down to the federal elections,” Trump suggests, “where I filed a 104-page essentially financial statements of sorts.”

A lot of Trump critics have argued that he’s afraid that his tax returns will show he’s not a billionaire. Highly doubtful. First, Trump’s income will not directly correlate with the value of his assets, the debt on them or his stake in each. Second, FORBES has been scouring Trump’s fortune for 34 years. Sometimes he’s up, sometimes he down–and for much of the 1990s he was out of the three comma club.

FORBES’ new investigation into Trump’s wealth pegs his fortune at $3.7 billion, down $800 million from a year ago. A softening of New York City’s real estate market, particularly in retail and office, where valuations are trending down, has diminished his estimated net worth. New information was also a factor. Of the 28 assets or asset classes scrutinized by FORBES, 18 declined in value, including his trademark Trump Tower on Manhattan’s Fifth Avenue, his downtown jewel 40 Wall Street and Mar-a-Lago, his private beachfront club in Palm Beach.

Also on Forbes:

Seven assets rose in value–including San Francisco’s second-tallest building, 555 California Street. One held steady. There are two new assets included in his total count. One is a 4% stake in an affordable housing compound in Brooklyn that is listed in Trump’s FEC filing. In his sole real estate deal this year, Trump bought a nearly 50-year-old warehouse in Charleston, S.C. that was in foreclosure. The warehouse had been owned by a company, Titan Atlas, in which Donald Jr. had been an investor. At one point the younger Trump (as well as other investors) had personally guaranteed a Deutsche Bank loan to the company; his dad later bought it out.

Via Forbes

__________

Follow us on Twitter at @thesignalng

Copyright 2015 SIGNAL. Permission to use portions of this article is granted provided appropriate credits are given to www.signalng.com and other relevant sources.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement

Related

World

America’s oldest president, Joe Biden, earned backing from an unexpected supporter due to his age: The Democrat was “not too old” to run for...

News

A federal judge on Monday set a date of March 4, 2024, for Donald Trump’s election subversion conspiracy trial — placing one of the...

News

Donald Trump, a former US president, claimed on Tuesday that he had received a letter from prosecutors indicating that he was likely to face...

News

Former U.S. President Donald Trump was placed under arrest shortly after arriving at a heavily fortified Miami courthouse on Tuesday afternoon to face his...

Copyright ©