Trump has fallen another 16 spots on the Forbes400
, even as many of Trump’s billionaire peers have gotten richer.
He is now the 275th-richest person in America, by our count. That’s 16 spots lower than where he ranked a year ago and 119 places lower than where we had him before he became president.. Real estate developers are no longer signing up to put the Trump name on their properties, and existing customers have scraped the brand from projects in places like Toronto and Panama.
Luckily for Trump, not everything he owns has his name on it. The value of his 30% stake in two nondescript office towers managed by billionaire Steven Roth’s publicly traded Vornado Realty Trust continues to soar. His share of those properties, 1290 Avenue of the Americas in Manhattan and 555 California Street in San Francisco, are worth a combined $928 million—up $77 million from a year ago—thanks to timely renovations and strong markets for office space.
Things appear to be leveling off in Miami, where the Trump National Doral golf resort had been bleeding business, particularly from the customers traveling down from the liberal-leaning northeast. Revenues fell an estimated 26% from 2015 to 2017 but rose by 1.5% last year, helping lift the value of the resort by nearly $20 million.also nudged up the value of the president’s Mar-a-Lago club by $10 million, after a pair of nearby properties sold for record prices.
In addition, the president added an estimated $10 million to his cash pile last year, the result of his sons’ un-Trumpian strategy of conservatively managing their father’s fortune while he’s in office. Eric and Don Jr.since his inauguration, through more than 100 tiny transactions that have mostly flown under the radar. Last year, they sold real estate in Manhattan, Chicago, Las Vegas, Los Angeles and the Dominican Republic—brushing away potential ethics concerns as they paid down debt.
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