Donald Trump is losing hundreds of millions of dollars this year.
A newly released investigation by Forbes concluded that the value of Donald Trump’s assets has fallen $800 million from this time last year.
Trump’s Assets Drop By $800 Million In The Last Year
The financial powerhouse reports that “Of the 28 assets or asset classes scrutinized by FORBES, 18 declined in value, including his trademark Trump Tower on Manhattan’s Fifth Avenue, his downtown jewel 40 Wall Street and Mar-a-Lago, his private beachfront club in Palm Beach.”
Forbes also points out a falsehood presented by Trump on Monday: “One more thing: The bombastic Republican presidential candidate said on Monday night that his FEC filing showed income of $694 million for the past year. It doesn’t, because in the document he freely mixed revenue with income, and it covers a period of 17 months.”
Quartz reports that although “Trump has famously suggested that his brand itself is worth several billion dollars… Forbes does not assign any dollar value to the brand in its calculations.”
“Great businessmen turn brands into profits, which then get valued. The deals that putatively could get done do not,” write Forbes staff writers Chase Peterson-Withorn and Jennifer Wang.
Trump Spends $400 Million Just To Lose The British Open
There are some other less-quantifiable issues regarding Trump’s fortune that Forbes did not study in their investigation. Take, for instance, recent events surrounding Trump’s efforts to host the British Open.
As Liberals Unite reported last December, there was the announcement that Trump’s Turnberry Golf Resort had been pulled for consideration for the 2020 British Open Tournament. While the Royal and Ancient Golf Club of St Andrews had been expected to endorse Trump’s golf resort to host the 2020 British Open they cancelled those plans in the wake of his campaign’s racist remarks about the Chinese, Mexicans, Muslims, and women due in part to “concerns regarding the risk of boycotts by tournament sponsors and players were too much for the prestigious governing body.”
As The Independent on Sunday reported last December, the financial cost to Trump was devastating. Trump purchased the Turnberry resort last April for “just over $63 million,” renaming it Trump Turnberry and promised an upgrade of slightly more than $300 million, and at the time, “the purchase appeared to give the billionaire the near-guarantee that when The Open came to his place, he would be center-stage at the winner’s presentation party on the 18th green,” along with other dignitaries in a ceremony shown to millions around the world.
Trump Loses Untold Millions In The Wake Of Loss Before British Supreme Court
Last December Britain’s Supreme Court ruled unanimously against Trump’s efforts to block the construction of a wind farm in Scotland, costing him untold millions.
As Think Progress reported at the time, Trump had been “fighting to prevent the construction of a wind farm off the coast of Aberdeen, Scotland, since 2013.”
Trump “maintained that the wind farm, if constructed, would ruin the view of a luxury golf course he owns near the planned site of the farm. The Scottish government approved plans for the wind farm in 2013, and since then, Trump’s challenge had lost twice in Scottish courts,” and last December’s ruling seems to have put an end to the billionaire’s efforts to halt construction of the project.
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