If we have learned anything since Donald Trump announced his candidacy for president, it is that he is worth TEN BILLION DOLLARS. “I’m really rich” is probably one of Trump’s favorite sayings.
Well, Forbes magazine just did their own audit, and it turns out that Trump is not worth $10 billion, in fact, he isn’t even worth half of that.
FORBES’ new investigation into Trump’s wealth pegs his fortune at $3.7 billion, down $800 million from a year ago. A softening of New York City’s real estate market, particularly in retail and office, where valuations are trending down, has diminished his estimated net worth. New information was also a factor. 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.
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.
How Donald Trump determines his net worth https://t.co/yoou12OxkY
David Cay Johnston: 'There's no evidence Donald Trump is a billionaire'
— smebulok (@smebulok) September 27, 2016