The wealth of U.S. President Donald Trump decreased from $4.7 billion to $4.2 billion just a few days after the introduction of new tariffs on April 2, according to information from the American publication Forbes.
This is reported by Finway
Trump’s Financial Losses Due to New Tariffs
Trump suffered the largest losses due to the decline in the value of his company, Trump Media and Technology Group, whose shares dropped by 8% over three trading days. His stake in the company depreciated by $170 million.
Additionally, estimates of his commercial real estate fell by approximately $90 million, including partnership properties with Vornado Realty Trust in New York and San Francisco. Currently, the value of his real estate is estimated at $570 million, whereas a week ago it was $660 million.
Impact on Golf Clubs and Hotels
As noted by the publication, the outlook for Trump’s golf clubs is also grim. A decrease in demand among club members and a drop in shares of related companies could lead to an additional loss of $70 million. His hotels, including Trump National Doral in Miami, have also lost value—approximately $65 million.
“Trump’s residential real estate, according to Forbes, has lost another $20 million.”
In total, Trump’s financial losses due to the new tariffs exceed $500 million. Analysts point out that the greatest threat to him lies not only in the direct impact of the tariffs but also in the decline of investor confidence amid economic instability.
Recall that on April 2, the U.S. President announced the introduction of tariffs on imported goods from around the world that will be brought into the United States. The base tariff rate on imports of all foreign goods to the U.S. will be 10%. This will apply to the United Kingdom, Brazil, Australia, Turkey, Ukraine, and many other countries. For European Union countries, the rate will be 20%, for China it will be 34%, for South Korea 25%, for Japan 24%, and for India 26%. The rates for Cambodia (49%), Vietnam (46%), and Sri Lanka (44%) are record-high.