Plummeting property values puts Trump in a slump as $800m wiped off net worth

Oh, dear! Donald Trump is down to his last $3.7bn, according to a new assessment of his wealth. The real estate magnate and wannabe president has haemorrhaged $800 million in less than a year, Forbes estimates. His hotel management and licensing business saw its value fall by $229 million, the magazine says, while his property portfolio also reportedly plummeted in value because of New York’s weak real estate market. His flagship Trump Tower in the city is estimated to be worth $159 million less than its 2015 valuation - a fall attributed to a 20% drop in its net operating income.

I have a tremendous income … it’s about time that this country had somebody running it that has an idea about money

Donald Trump

The analysis of his finances reveals he gave $7 million to his campaign and loaned it an additional $48 million. Of the 28 buildings that Forbes assessed, 18 declined in value. They included his golf courses across the US, Niketown in New York City and Mar-a-Lago, his private club in Palm Beach, Florida. However, another seven did rise in value. The figures have emerged as he faces increasing calls to publish his tax returns. His refusal to do so has fuelled speculation that his bank balance is not as huge as he claims or that he’s not paying his fair share of taxes.

Maybe he doesn’t want the American people, all of you watching tonight, to know that he’s paid nothing in federal taxes.

Hillary Clinton

Politics