President Trump’s net worth dropped from $3 billion to $2.9 billion this year, as the value of his Manhattan office properties fell.
The Bloomberg Billionaires Index, which relies on information from lenders, mortgage documents, annual reports, market data and Trump’s newly-released financial disclosure, found the president’s net worth fell from 2016 to 2017.
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According to Bloomberg, the decrease is attributed to three office properties — 40 Wall Street, Trump Tower and 1290 Avenue of the Americas. The buildings, owned by Trump, are underperforming appraisals that were done when Trump was initially given loans.
The value of the three properties has decreased a combined $380 million.
Despite the decrease in their value, Bloomberg reports his portfolio of liquid assets increased from $170 million to $230 million after condo sales and payments from the Trump International Hotel Las Vegas. Trump also sold a Manhattan penthouse apartment, which contributed to the increase.
Revenue at Trump’s 16 golf courses and resort properties increased 3 percent and have a combined value of $720 million.
Trump’s financial disclosure, filed last week, provided a bigger picture of the president’s finances.
According to the disclosure, he brought in more than $37 million from Mar-a-Lago, his Palm Beach, Fla., estate, $19.7 million from his Bedminster, N.J., property, and more than $20.1 million from his Jupiter, Fla., property.
He also earned at least $636 million from rent, royalties, revenues and other forms of income.
Since assuming the presidency, Trump has contained to retain ownership of his companies, but transferred his holdings to a revocable trust managed by his sons, Donald Jr. and Eric Trump.
