Donald Trump may not be very happy to learn that being President of the United States actually costs him money. Originally, moving away from his business empire for four years, his total assets have fallen from $ 3 billion to $ 2 billion. Why? Well in a twist of irony, the pandemic, which he maligned and would magically go away, is hitting his company very hard. Kovid has hit office buildings and hotels and resorts. In addition, the Capital Riot that many believe he provoked at his rallies through words of his choice, and his second impeachment is hurting his carefully crafted brand. Fallout from the events of 6 JanuaryTh Has deteriorated its relations with lenders and brokers. Trump has about $ 600 million in loans to come in the next four years. More than half the amount has been personally guaranteed by Trump.
Trump’s commercial real estate is the most important part of his business and accounts for 3/4% of his net worth. His most valuable holding is Vornado Properties, which has a 30% stake in two office towers – one in San Francisco and one in New York City. The value of its stake has fallen by $ 80 million to $ 685 million over the past two years. Trump also owns 40 Wall Street in Lower Manhattan. In 2016, that property was worth $ 550 million. Today it is valued at $ 277.7 million. The reason for the trouble on this property is the fact that the company that handled the leasing of this building cut its ties with Trump after a storm in the Capitol by his supporters. Meanwhile, in Trump Tower, residents are having a hard time selling their units, even after deeply cutting prices.
Trump names, manages or licenses about 12 hotels and resorts across DC’s Scotland. He has personally guaranteed his loan of $ 330 million. He derives nearly half of this from a loan taken to build his Washington DC hotel. A third of this is for their golf resort in Miami. The remaining debt guaranteed by them is tied up in their Chicago property. The lender, Deutsche Bank, cut ties with her and refused to do further business with her after the capital riot. Trump marketed his Trump International Hotel in DC in 2019 for more than $ 500 million. He received offers of $ 350 million and declined them. Brokers representing the sale of property abandoned in January after the capital riots. In Florida, revenue at his 643-room Trump National Doral Miami has fallen by more than $ 57 million. At least on Mar-a-Lago, revenue was $ 22.9 million last year compared to $ 22.3 million in 2015.
Trump owns or manages 19 golf courses. Golf is an industry that thrives on an epidemic due to the natural social distinction aspect of the game. However his two golf courses in Scotland, Trump Turnberry and Aberdeen are frequent money losers. In addition, following the attack on the Capitol, the PGA revoked its agreement to host the 2022 tournament at Trump National Golf Club Bedminster in New Jersey.
Trump gave his name to a group of businesses and buildings for decades. This revenue stream has dried up. Mattress Co. Serta ended an agreement with Trump after calling immigrants from Mexico’s rapists. And, after the riots in the Capitol once again, other businesses completely cut ties with him, including Trump Plaza in West Palm Beach. New York City is also trying to cancel its contracts and draw its name from an ice rink and a golf course.
Trump also has a fleet of aircraft, including a Boeing 757 that has not been off the ground since the summer of 2019. All their aircraft are decades old. In 2015, his fleet was worth $ 59 million. It now costs $ 6.5 million. Likewise, the income from his books is very much lost. In 2015, he earned $ 888,000 in royalties from his books. In 2020 he earned $ 0. His chances of capitalizing on subsequent memoirs of presidents like Bill Clinton and Barack Obama are slim, once again leading to a riot in the Capitol. Eventually, Simon and Schuster canceled Senator Josh Hawley’s book because of attempts to reverse the election. While Trump still has a lot of loyal and passionate supporters, what can a former two-time impeachment president actually write?
List of his former business which has been going on for a long time and includes:
Trump energy drink
Select by Trump Coffee
Donald Trump Fragrance
Trump: The Game
New Jersey Generals USFL Team
- Trump’s Palace
- Trump marina
- Trump Plaza Hotel & Casino
- Trump Taj Mahal, Trump World Fair
- Trump casino in indiana
Tour de trump bicycle race
Trump Model Management
Trump network vitamins
Donald J. for Messi. Trump Signature Collection
And finally, Trump’s legal bills are rising. The District Attorney for Manhattan is looking into tax and insurance fraud charges against Trump. The Supreme Court allowed the Manhattan DA to receive eight years of its tax return in February. The New York Attorney General is also looking into allegations that Trump raised property values to obtain tax and insurance benefits. The Attorney General of Washington DC also filed a lawsuit against Trump’s inauguration committee, accusing Trump of funding the DC Hotel to pay inflated rates. Trump is embroiled in a lawsuit over a multi-tiered marketing firm called ACN, which used Trump as a promoter who is being accused of having a pyramid scheme.