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Billionaire Donald Trump lost almost half of his net worth during presidency

Billionaire Donald Trump, who announced his candidacy for the White House in 2015 with a net worth of $ 4.5 billion, stepped down in January 2021 with a net worth of around $ 2.5 billion, according to Fox Business.

Forbes said Mr. Trump could have even less money because he “will probably have to cover the losses of his hotels.” He owns assets in industries that have been affected by government shutdowns.

When he took office in 2017, Mr. Trump was on Forbes’ 121 richest Americans list. In 2019, his fortune drops to around $ 3.1 billion in 2019.

In recent weeks, the former president’s empire has been hit by the severing of ties with him following the January 6 riots on Capitol Hill.

In addition, the Trump Organization’s revenues have fallen 38% to $ 278 million by 2020 as the pandemic cripples businesses around the world.

The good news for the former president is that his Mar-a-Lago resort in Palm Beach, Fla. Last year saw a 13% increase in revenue, from $ 21.4 million to 24. , $ 2 million. In the past, Mar-a-Lago has earned over $ 30 million / year.

During his four years in office, President Trump did not receive a salary. His annual presidential salary of $ 400,000 is donated for various purposes.

According to NBC News, during a speech at a campaign event in Monaca, Pa. In August 2019, Mr. Trump said, “Being president has cost me a fortune. But I love it. I love it because I improve people’s lives ”.

Mr. Trump explained that he spent a lot of money hiring a team of lawyers to handle a series of lawsuits. “Every day they [all] sue me for something,” the former president said.

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