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Last Updated : Jun 01, 2018 06:52 PM IST | Source: Moneycontrol.com

Donald Trump's net worth falls to $2.8 bn, lowest since 2016 campaign: Report

Bloomberg's and Forbes' estimates of Donald Trump's net worth are far lower than his own.

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US President Donald Trump's net worth has declined to $2.8 billion, the lowest since his 2016 presidential campaign first started, according to a report by Bloomberg.

Trump's net worth declined by over $100 million last year due to a fall in  revenue from Trump Tower in Manhattan and his golf courses.

His net worth also took a beating after his name was taken off buildings in Manhattan, Panama and Toronto.

This is only the second time the US president's net worth at the end of a year was lower than when it started.

The report used data compiled by the Bloomberg Billionaires Index. Trump's net worth last June was $2.9 billion, the reported stated.

The numbers contradict the business magnate-turned-politician's own estimates of his net worth. Trump has previously claimed he is worth $8.7 billion.

Forbes, too, estimates Trump's net worth at around $3 billion, as at the end of February.

After winning the presidential election in 2016, Trump made a controversial decision of not selling off assets that could have created a conflict of interest. He instead decided to put his sons Eric and Donald Jr. in charge of his company.
First Published on Jun 1, 2018 03:18 pm
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