US President Donald Trump reportedly paid $130,000 to former adult film star Stormy Daniels ahead of the 2016 election in an attempt to cover up an alleged affair.
Following the so-called Pussygate scandal, in which video footage was released of Trump making lewd comments about women, Trump was seemingly keen to protect his image from further damage.
If the allegations in the Wall Street Journal’s report are true, Trump is $130,000 poorer without much to show for it. However, luckily for the world leader, he has plenty to spare.
So how much is Donald Trump worth?
According to Forbes, Donald Trump’s net worth currently stands at $3.1 billion, making him the joint 766th richest man in the world.
President Trump refutes this. During his election campaign, Trump’s team claimed that he had filed a Personal Financial Disclosure with the federal government documenting his $10 billion fortune.
“I filed my PFD, which I am proud to say is the largest in the history of the FEC [Federal Election Commission],” Trump said.
According to Oliver Williams of GlobalData WealthInsight, given the difficulty of estimating an individual’s net worth, both of these figures are likely wrong.
Williams told Verdict:
“Most billionaires will seek to downplay the size of their wealth. They will hide ownerships through corporate vehicles and houses through offshore companies in order to shy away from the limelight.
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“Donald Trump, on the other hand, seems to do the exact opposite by claiming assets and wealth that is unproven and in constant flux.
“In both bases, estimating a billionaire’s wealth is an inexact science, with Forbes and other rich-list authors only guestimating the true size of the iceberg beneath.”
However, by looking at the property portfolio owned by Trump, Forbes does provide, at least, a general idea of Trump’s wealth.
Donald Trump net worth: Breaking down Trump’s fortune
Forbes estimates that just $134 million of the Trump fortune is in cash and liquid assets. Trump has another $156 million invested in personal property and assets. His possessions include the Donald Trump Tower penthouse and his collection of aircraft, including two private jets and three helicopters.
Trump’s personal property portfolio includes a country home in Bedford, New York, two homes in Palm Beach, Florida, a Beverly Hills mansion and a $15 million island property in the West Indies that he can’t seem to get rid of.
However, the rest of his wealth is in the form of businesses and real estate assets.
Trump real estate
Much of his wealth is tied up in property. Armed with a small loan of $1 million from his father, Trump bought up property in Manhattan that has seen his initial investment grow substantially.
Trump is now the owner of a numerous multi-million dollar properties in New York. His portfolio includes the $545 million Trump Building on Wall Street. He also holds a $391 million stake in Avenue of the Americas skyscraper.
New York real estate, worth $1.5 billion, makes up the bulk of Trump’s fortune. Another $500 million is in property outside of the city, including his Hotels in Las Vegas, Washington, and Chicago.
His numerous golf courses add another $560 million to Donald Trump’s net worth. Included is the $160 million Mar-a-Lago club that has continued to grow following Trump’s victory. Since the election, membership fees have climbed from $100,000 to $200,000. Revenue at the club grew by 25% in 2016.
The Trump brand
Despite being recognised as the second most powerful person in the world, the Trump brand is worth significantly less than his property portfolio.
Trump’s licensing businesses, worth $180 million, saw their value drop by $54 million in 2017 as brands attempted to distance themselves from the divisive leader.
Trump’s Hotel Management & Licensing Business took the biggest hit, falling by $50 million. This is a result of numerous hotels removing the Trump name since he took to office.
Trump’s declining wealth
If Forbes’ valuation is correct, Trump lost $400 million last year.
However, despite the numerous disputes, controversies and allegations against the President of the United States, this likely had more to do with property prices than a damaged image.
Some 64% of Trump’s wealth comes from real estate and 48% of it is in New York City. This means that movement in property prices in the city can cause big changes to Trump’s worth.
According to real estate company Douglas Elliman, property in Manhattan, the home of many of Trump’s most valuable assets, had its worst quarter in six years in the final quarter of 2017. The number of sales completed fell by 12% compared with the previous year.
Likewise, the average cost of a property fell below $2 million for the first time in two years. The luxury market, in particular, is suffering from falling prices.