Former President Donald Trump’s financial status has seen a significant increase, with his net worth rising by over $500 million since his departure from the Oval Office in early 2021, according to a new report.
The Bloomberg Billionaires Index now estimates his worth at $3.1 billion, a notable climb from the $2.6 billion estimated after President Joe Biden took office. This surge is attributed to the appreciation of his real estate properties, including the iconic Trump Tower on Fifth Avenue and his Mar-a-Lago resort in Florida, now valued at approximately $240 million. Moreover, his liquid assets reportedly stand at around $600 million.
The Bloomberg Billionaires Index based its valuation on a financial condition statement made by Trump in 2021, an August 2023 Office of Government Ethics filing, market data and mortgage filings. It’s important to note that the valuation was done “as is,” excluding potential development value.
Amid legal battles and business losses that sparked speculation about a possible financial downturn for Trump, his son Eric Trump, the executive vice president of the Trump Organization, assured Bloomberg, “The company has never been stronger and never been better. We have the most cash and the lowest debt. We are in a fantastic spot.”
Forbes magazine, which employs its methodology to calculate billionaires’ wealth, suggests a different picture. It claims Trump’s net worth has decreased by about $600 million from the previous year, partly due to the underperformance of Truth Social. However, it acknowledges that his golf courses have seen improved performance recently.
Liza Pulitzer, a Palm Beach real estate agent, contends that Mar-a-Lago’s value surpasses Bloomberg’s estimate, potentially reaching over $500 million. This contrasts with the valuation used by prosecutors and the judge in Trump’s New York civil fraud trial.
During the civil fraud trial, Trump and his sons have refuted any wrongdoing, arguing that their assets were undervalued. “The numbers of my net worth are far more than the financial statement. Therefore, you have no case,” President Trump testified, challenging the state prosecutors.
Moreover, Trump criticized New York Attorney General Letitia James’ case against him as a disgrace, claiming it distracts from more pressing issues in New York City. He expressed his desire for a jury trial, which a spokesperson later lamented was not an option.
In September, Judge Arthur Engoron declared that Trump and the Trump Organization committed fraud in their New York real estate dealings. Trump rebuked the judge’s assessment, especially the valuation of Mar-a-Lago, and questioned the judge’s authority to label him a fraud without personal knowledge.
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