- According to Forbes estimates, President Donald Trump is worth $ 2.5 billion to $ 3.1 billion.
- The president’s overall wealth has reportedly declined due to falling values of Manhattan towers, which increase the bulk of his net worth in the real estate market in the form of the Coronair epidemic.
- Many Forbes lost billions to 400 members in the media, oil, and hospitality sectors, such as Warren Buffett and Sheldon Adelson, as the coronovirus epidemic grew their businesses.
- Other billionaires, such as Amazon’s Jeff Bezos, still managed to make tens of millions of dollars in the last 12 months.
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The coronovirus epidemic has destroyed the finances of millions of Americans.
President Trump’s fortune has also taken a hit: He is about $ 600 million less wealthy than he was 12 months ago, which dropped him 77 places on Forbes’ 400th richest Americans list. A large part of Trump’s fortune has been held in a group of office and residential towers in Manhattan, whose value has plummeted as the coronovirus epidemic changed New York’s real estate market overall. Forbes now estimates Trump’s total assets at $ 2.6 billion, placing him at number 352.
A representative of Trump in the Trump Organization did not immediately respond to Business Insider’s request for comment on the president’s net worth or position on the Forbes 400 list.
The president is not the only billionaire whose fate has fared poorly during the coronovirus epidemic. Investor Warren Buffett had total assets of $ 7.3 billion – more than anyone else in terms of dollars at Forbes 400 – as Berkshire Hathaway lives below. Las Vegas Sands CEO Sheldon Adelson suffered a loss of $ 4.7 billion as the epidemic kept his casino closed for nearly three months.
Forbes also reported that 25 billionaires lost so much money that they were completely eliminated from the list – and 10 of those net worth drops were a direct result of the epidemic. The billionaires in the media, oil and hospitality sectors suffered the most according to Forbes.
Others managed to benefit immensely. Amazon’s Jeff Bezos raised his fortune 57% over the previous year to $ 179 billion – more than any other billionaire on the Forbes 400 – helping him retain the No. 1 slot for the third consecutive year.
Forbes reported that overall, America’s 400 richest billionaires added $ 240 billion to their collective net worth over the past 12 months. They are now worth a combined $ 3.2 trillion.