Trump's net worth drops $ 1 billion due to coronavirus

  02 April 2020    Read: 499

To approximate how much the coronavirus affected the president’s fortune, we looked at changes in the price of stocks similar to each segment of his business. Commercial real estate was clearly down, with shares of several companies, including Boston Properties and Vornado Realty Trust, plunging an average of 37% from March 1, 2020, to March 18, 2020, the date we calculated fortunes for the billionaires' list. Similar decreases dragged down the value of hospitality companies, apartment owners and golf businesses. Using those declines as a guide, we applied discounts to Trump’s pre-coronavirus numbers, then reviewed the changes with industry experts, reports citing Forbes.

The bottom line: a net worth valuation of $2.1 billion—a drop of $1 billion in less than a month. That will surely change again, as every index performs like an electrocardiogram. But, says New York City real estate broker Eric Anton, “The analysis, it’s as good as any other way I can think of.”

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