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Donald Trump – the only billionaire president in America’s history – lost almost 30 per cent of his wealth while he was in the White House.
The former president’s wealth fell from US$3.5 billion in 2017 to US$2.5 billion in 2021, according to Forbes’ annual list of the world’s wealthiest people.
Former President Donald Trump lost almost one-third of his wealth over the course of his time in office, leaving him more than $1 billion worse off after four years in the White House.
Trump’s fortune fell from $3.5 billion to $2.4 billion between entering office in January 2017 and departing the White House less than three months ago, according to Forbes.
Several of Trump’s major properties suffered declines in value, as did his hotel management and licensing business. However, his Florida club, Mar-a-Lago, saw a considerable improvement in net value.
Trump did not divest himself of his businesses when he took office. This decision was controversial and was a cause for persistent questions about ethical issues.
Forbes senior editor Dan Alexander pointed out on Tuesday that if the former president had chosen to divest and invested in the stock market, he would now be significantly richer.
If he had sold everything on Day 1, paid the maximum capital-gains taxes on the sales, then put the proceeds into a conflict-free fund tracking the S&P 500, Trump would have ended his presidency an estimated $1.6 billion richer than he is today,” Alexander wrote.
In its 2021 list of billionaires, Forbes ranks Trump No. 1,299. He was ranked No. 1001 on the 2020 list. In 2017, Trump ranked No. 544.