Donald Trump, regarded as an evil and a greedy menace by the leftist media for years, has actually lost $1.1 billion after his presidency, causing him to fall almost 300 places from his original spot in billionaire rankings.
1/10 Four years ago we knew Trump’s refusal to divest would have political consequences. Now we know it had big financial consequences as well.
In fact, the decision to retain his assets cost Trump an estimated $1.6 billion. Let’s break down the math. https://t.co/hGfzgkcPSX
— Dan Alexander (@DanAlexander21) April 6, 2021
“From the time he entered the White House in January 2017 to his departure a few months ago, Donald Trump’s fortune fell by nearly a third, from $3.5 billion to $2.4 billion,” Forbes reporter Dan Alexander wrote. “The S&P 500, meanwhile, increased 70%.”
9/10 Obviously there are different scenarios you could run. What if he hadn’t had to pay capital gains tax? What if he had invested more in bonds than stocks? And so on. It’s hard to pin down an exact number on a hypothetical. But $1.6B seems like a fair, conservative estimate.
— Dan Alexander (@DanAlexander21) April 6, 2021
It is pertinent to mention here that Trump refused to take a salary throughout his presidential regime, instead donated his $400,000 annual pay to various federal departments.
Trump has frequently said in the past he lost money while being president, which Bloomberg and Forbes’ reports show to be true.
However, the Obamas are worth more than 30 times their net worth entering the White House, according to a 2018 Business Insider piece. The former president’s current net worth is a whopping $40 million.