Donald Trump’s net worth is declining after becoming first billionaire president

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Tonight, the world will be watching to see how the US election 2020 unfolds.

US President and Republican Donald Trump, who is seeking to keep his position, is up against Democrat Joe Biden.

Trump, who was elected in 2016, is the first billionaire ever to serve as president of the US.

The president is not shy when it comes to speaking about cash, and regularly discusses his success and massive wealth.

But even though President Trump has amassed a huge fortune throughout the years, it has actually rapidly declined during the past year.

Just how wealthy is America's 45th president? And how does he spend his fortune?

What is Donald Trump’s net worth?

Donald Trump’s net worth is an estimated $2.5billion (£1.9bn), according to Forbes.

In 2016, the magazine claimed he was worth an eye-watering $3.7billion (£2.8bn).

So if the magazine is to believe, his wealth has dropped by $1.2billion (£0.9bn).

Why is Donald Trump’s net worth falling?

It appears Trump’s finance troubles are due to the coronavirus pandemic.

He’s not the only one with the stockmarket struggles leading to 267 people losing billionaire status.

Trump owns property in New York's Manhattan borough, as well as several hotels and golf courses, which have all been forced to close due to the pandemic.

How does Donald Trump spend his money?

There is no denying Trump has a lavish lifestyle, but he does donate his $400,000 (£307k) presidential salary to various government entities.

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However, according to Forbes, his New York City real estate alone accounts for more than $1billion (£0.8bn) of his net worth.

Despite his losses, he still enjoys a lavish lifestyle, by taking tax deductions on what many people would consider personal expenses.

For example, he spent £55,000 on a hairdresser for his TV appearances.

He also spent $66million (£50.6m) of his own money on his presidential campaign last time.

Trump also reportedly bought a Boeing 727 in 2010 from late Microsoft co-founder Paul Allen for $100million (£76.6m).

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He also owns a Cessna jet, three Sikorsky S-76 helicopters.

One of these he had gutted and redone with 24-karat gold.

Trump has also reportedly shelled out for multiple luxury cars, including a vintage Rolls-Royce Silver Cloud and a Rolls-Royce Phantom.

Trump also spent $30million (£23m) on a 100-cabin yacht in the 1980s, naming it the Trump Princess.

  • Donald Trump
  • Net Worth
  • US Election

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