According to Forbes’ estimates, Donald Trump’s personal net worth dropped from approximately $4.7 billion to $4.2 billion in less than a week, as the value of his publicly traded shares and personal assets declined along with the overall market, Forbes reported on April 8.
According to RT, Trump Media and Technology Group — the president’s most valuable asset — dropped 8%, wiping out around $170 million from his stake in the company.
His commercial and residential real estate holdings were estimated to have dropped by about $110–142 million, based on the average decline in the stock prices of other major real estate companies following his retaliatory tariff announcement.
Forbes stated that Donald Trump’s golf clubs may have lost around $70 million due to members tightening their belts. His hotel-related assets may have decreased by another $65 million, while his smaller licensing and management businesses may have lost an additional $15 million.
Forbes also estimated that Trump may have lost tens of millions more from his cryptocurrency holdings.
The publication noted that the greatest threat to the president’s personal wealth stems from a loss of investor confidence triggered by the trade war he initiated.
Despite the market volatility, Donald Trump defended his actions, claiming that the tariffs have brought billions of dollars into the U.S. treasury.
Many prominent American investors have criticized the tariffs, warning of serious consequences for the U.S. economy. Billionaire Elon Musk also attempted to persuade Donald Trump to reconsider the measures, but was unsuccessful, according to the Washington Post.
Last week, Donald Trump announced a series of new tariffs on imports from dozens of countries and territories into the United States. According to Bloomberg, fears of an escalating trade war have shaken global stock markets and wiped out roughly $10 billion in share value as of April 7.