The presidency of the United States is literally costing Donald Trump dearly. Forbes certifies it, which in its annual ranking of the 400 richest men in America places the US president even in 275th place, downgrading him by 16 positions compared to last year, after the demotion of 119 places inflicted on him in 2017.
In choosing between money and power, the American billionaire who became president in 2016 now seems oriented towards following the dictates of another famous – albeit fake – tenant of the White House: Frank Underwood, the iconic protagonist of House of Cards who in an episode of the first season of the TV series, looking straight at the camera stated: “It's a great waste of talent. He prefers money to power. In this city it is a mistake that many make”.
Not that Trump risks spending his retirement in poverty, but his assets have been completely stuck at $3,1 billion for the past two years, a period which in the world of (big) business corresponds to a geological era. While the others continue to get rich, the president remains firm and loses positions in the list of 400 Scrooges of America from which he even risks exiting in case of reconfirmation in the White House. Yes, because if last year to enter the ranking of the "richest among the rich" we needed assets of 2,1 billion dollars, in 2019 we rose to 2,9 billion dollars and in 2020 it could take even more. Not to mention of the top positions in the standings, now light years away: Bezos, on the first step, has assets of 114 billion, 8 more than Bill Gates, second with a fortune of 106 billion, 34 more than Warren Buffett (80,8 billion).
Analyzing the financial situation of the US President, Forbes explains that its branding activities are experiencing a steep decline. "Realtors are no longer queuing up to put Trump's name on their properties, and existing clients have de-branded major projects being developed in places like Toronto and Panama." According to the economic fortnightly, Trump's real estate licenses, limited by the fact that he cannot do business abroad while in office, are now worth about $80 million, less than half of last year's $170 million. “Meanwhile, the value of the product licenses of the president, who makes money by putting his name on shirts, ties and mattresses, is getting closer to zero. In 2016, before Trump became president, these deals were worth about $14 million,” explains Forbes.
Fortunately for the President, "not everything he owns bears his name." The paper gives a few examples: its 30% stake in two towers managed by billionaire Steve Roth in San Francisco and Manhattan continued to grow to $928 million; his Washington hotel's finances are booming while his Miami resort (which struggled from 2015 to 2017) appears to be on the road to recovery.
Between great shadows and some light, however, Donald Trump can console himself with another record: with his 3,1 billion assets, he is the richest candidate running for the presidency of the White House. The elections will be held on November 3, 2020, we will see how the portfolio of the current tenant of the White House will be in a year.
