ILLUSTRATION BY FORBES; photo by Oliver Contreras / For the Washington Post via Getty Images
The former president, who prides himself on his business acumen, refused to divest himself of his assets as soon as he took office. If it had sold in 2017 and reinvested in the market, it would be estimated to be $ 1.6 billion richer.
Between entering the White House in January 2017 and leaving a few months ago, Donald Trumps’ fortune fell by nearly a third, from $ 3.5 billion to $ 2.4 billion. The S&P 500, meanwhile, rose 70%.
Every investor at some point has kicked themselves for holding an asset for too long. None, however, made such a monumental miscalculation. By refusing to give up his portfolio when he took office, Trump has bogged down his presidency with ethical issues for years, while also missing a chance to cash in on a market boom he helped propel. .
Had he sold everything on day one, paid the maximum capital gains taxes on sales, and then put the proceeds into a conflict-free fund followed by the S&P 500, Trump would have ended his estimated presidency at 1, $ 6 billion richer than today. .
Here are his four biggest losers and his two best winners.
6 East 57th Street New York
Craig Wartga / Bloomberg
NET VALUE: $ 148 million CHANGE DURING THE PRESIDENCY: – $ 217 million
Online shopping has taken its toll on buildings like this, a glitzy 65,000-square-foot space just off Fifth Avenue in the middle of what was once one of the busiest outlets in the world. world. It didn’t help that Nike ditched its five-story flagship in 2018. Tiffany, who sublet Nikes’ old space while its own Fifth Avenue hub is undergoing renovations, is expected to leave in 2022.
40 Wall Street New York
Epics / Getty Images
WHAT HE HAS: Leasehold TOTAL VALUE: $ 304 million DEBT: $ 137 million NET VALUE: $ 168 million CHANGE DURING PRESIDENCY: – $ 195 million
Profits at the Trumps Financial District tower, home to dozens of small businesses, fell 32% in the first three quarters of 2020, the most recent period on record.
555 California St San Francisco
Matthias Lervolg / Getty Images
WHAT HE HAS: 30% stake in a three-building complex TOTAL VALUE: $ 1.9 billion DEBT: $ 538 million NET VALUE: $ 422 million CHANGE DURING THE PRESIDENCY: + $ 102 million
Two of Trump’s main tenants here, Goldman Sachs and Bank of America, have demonstrated moving away from Trump after the Capitol riot. Behind the scenes, however, the two renewed their leases in Trump’s most valuable property.
Hotel management and licenses
Julie Thurston / Getty Images
NET VALUE: $ 57 million CHANGE DURING THE PRESIDENCY: – $ 163 million
The Trumps brand business did not benefit from four years of polarization and the January 6 riot on Capitol Hill. Several licensees have removed the Trump name from their properties, and no one seems eager to step in and replace them. It has caused permanent damage to Trump’s name and image, at least for two or three decades, concludes real estate analyst Kevin Brown.
Trump National Doral, Miami
Michele Eve Sandberg / Getty Images
TOTAL VALUE: $ 135 million DEBT: $ 125 million NET VALUE: $ 10 million CHANGE DURING THE PRESIDENCY: – $ 160 million
Business at this golf resort was already bad before the pandemic. Then incomes plunged by more than 40%. With Deutsche Bank’s $ 125 million debt maturing in 2023, rumors are circulating that the Trump organization may be considering turning the property into a casino.
Mar-a-Lago Palm Beach, Florida
Michele Eve Sandberg / Getty Images
NET VALUE: $ 250 million CHANGE DURING PRESIDENCY: + $ 75 million
When the coronavirus hit, the northeast flocked south and Floridians stayed put. Huge demand and limited supply was welcome news for state owners, including Trump. He bought the Palm Beach club, where he decamped after leaving DC, in 1985 for around $ 10 million: $ 5 million for the oversized house, $ 3 million for luxury furniture, plus $ 2 million. extra dollars for oceanfront land across the road.
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