Donald Trump Said He Lost Money Between $2 Billion and $5 Billion During His Term as a President
Former President Donald J. Trump lost a fortune by being in the White House. Back in 2019, the 77-year-old said he would have earned billions of dollars had he not joined politics. The Republican became the president of the United States, which cost him between $2 billion and $5 billion.
Trump said during a cabinet meeting at the White House, "It's cost me anywhere from $2 [billion] to $5 billion to be president," adding, "between what I lose and what I could have made." He continued, "I would've made a fortune if I just ran my business—I was doing it really well," reported Fox Business.
However, the former real estate mogul confessed he'd still prefer being president of America. He told reporters, "If I had to do it again, I would do it in an instant because who cares? If you can afford it, what difference does it make?" But Forbes disagreed with the former president's claims.
Forbes wrote, "Trump is not losing $3 billion to $5 billion. His income isn't anywhere near $3 billion," about losing billions after becoming president, reported Reuters. On the contrary, his personal fortune is said to have only increased as he earned a spot on the list of the world's "richest people," as per the reports from Forbes.
In fact, most of Trump's business rivals suffered massive financial setbacks as his real estate empire only grew. On the other hand, a report based on the Forbes 400 list analyzed how less rich the Republican candidate became after running and winning the presidential race in 2016.
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Apparently, in 2016, Trump was worth $3.7 billion. This number dropped to $3.1 billion in 2017 and remained constant in the following years, 2018 and 2019. As per Forbes, in 2020, his net worth again dropped to $2.5 billion, which equals a $600 million decline, reported CNN.
This meant coming down from the 275th richest person in America in 2019 to the 352nd richest in 2020—a total drop of 77 spots. The reason that was cited for this decline was COVID-19. Forbes wrote, "The value of office buildings, hotels, and resorts have taken a hit amid the pandemic."
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Another story recently published in October 2023 revealed that Trump is still a billionaire with an estimated worth of $2.6 billion. However, the number is still down from last year, when he was estimated to be $3.2 billion, earning him a place on the list, reported CBS News.
The 2024 presidential hopeful attended court in New York related to his civil fraud trial after a judge found Trump and his organization falsely inflated their financial assets by billions of dollars to earn favors for loans and insurance terms. The New York Attorney General, Letitia James, filed the $250 million lawsuit against Trump.
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