Trumps net worth plunged by $1,000,000,000 thanks to New Yorks fickle real estate market: report

[smirkymonkey]

http://www.rawstory.com/2017/06/trumps-net-worth-plunged-by-1000000000-thanks-to-new-yorks-fickle-real-estate-market-report/?comments=disqus

"President Donald Trump claims his net worth to be $10 billion, but analysis by Bloomberg News says that that number is closer to $2.9 billion thanks to New York City’s current real estate market — which has taken major hits in recent years — and serious underperformance by three key Trump properties.

Caleb Melby said Wednesday that “the core of Trump’s empire” is comprised of buildings he bought and rebranded in the 1980s and 90s, but that when people are looking for new office space in Manhattan, Trump properties are low on the desirability list.

Melby looked at three Trump properties, all skyscrapers that Trump intended to rent as office space and all of which are “underperforming appraisals conducted when Trump was issued loans. The buildings — 40 Wall Street, Trump Tower, and 1290 Avenue of the Americas, a tower in which Trump holds a 30 percent stake — are victims of a changing New York office market, where gleaming new skyscrapers are attracting tenants and demand for space in vintage properties is falling.”

“That’s the biggest finding in an updated assessment of the president’s net worth,” Melby wrote, “which has slipped to $2.9 billion, according to the Bloomberg Billionaires Index, down from $3 billion a year ago. The calculation, five months after Trump’s inauguration, relies on figures compiled from lenders, mortgage documents, annual reports, market data and a new financial disclosure released June 16.”

Check out the Bloomberg report at the end of the article. I couldn't figure out how to post it.

[kelly1mm]

1. That number in the OP is 1 billion, not 100 million as the text says. Nt

[smirkymonkey]

3. Yes, you are right. Some estimates are even higher than 1B.

I want to see him suffer financially, because I really think that it is the only way that man will actually suffer.

[hankthecrank]

2. F$&k trumpie boy the karma train still coming for you n/t

[smirkymonkey]

4. Sooner or later, karma is going to bite him in the ass.

The bigger they come, the harder they fall. It can't happen soon enough.

[Buns_of_Fire]

5. You mean that Rump -- Dealmaker of Dealmakers, Smartest of the Smart,

Sexiest of the Sexy, the Envy of all Mankind, Filthiest of the Rich...

...is underwater?

Well, now, that's a damned *chuckle* shame. A very, very *chortle* damned shame. Sad! Very, very sad!

[smirkymonkey]

6. Yes, I have a feeling when it all comes out, his net worth is going to be in

the red. Not really much of a business man at all, is he?

[zz-la]

7. I hope he leaves office broke and in prison

It still wouldn't come close to making up for what he and his ilk have done to this country, but it would be a start.