Trump’s fortune drops $800m in one year

Source: BBC

“Part of the beauty of me is that I’m very rich,” Donald Trump once said, but according to Forbes magazine he’s much less rich than a year ago.

The business magazine has reappraised the Republican White House hopeful’s personal wealth and found it has haemorrhaged $800m since 2015.

Forbes now estimates the real estate magnate’s net worth at $3.7bn (£2.7bn).

The publication said the decrease was mainly due to the “softening” of the New York property market.

Mr Trump, who once wrote a book called Midas Touch, has said the country needs a dealmaker-in-chief in the White House.

At Monday’s presidential debate, he said: “I have a tremendous income … it’s about time that this country had somebody running it that has an idea about money.”

So how did he lose $800m?

Forbes, which has been counting Mr Trump’s wealth for more than three decades, cites the decline of the New York retail and office real estate market for the slump in his wealth.

Of the 28 buildings that Forbes assessed, 18 declined in value, including his flagship Trump Tower on Manhattan’s Fifth Avenue.

His property at 40 Wall Street and Mar-a-Lago, his private club in Palm Beach, Florida, also lost value, according to Forbes.

But seven Trump properties, including San Francisco’s second-tallest building, increased in value.

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