Trump's net worth drops to $2.5B amid coronavirus pandemic
The decline is largely the result of the COVID-19 outbreak, which has decimated values for office buildings and hotels
President Trump's net worth has dropped an estimated $600 million over the past year as the coronavirus pandemic and subsequent economic recession have wreaked havoc on the industries in which he holds his biggest assets, according to Forbes.
In its annual ranking of America's 400 wealthiest individuals, Forbes found that Trump is worth about $2.5 billion, making him the nation's 339th richest person (that's down 64 spots from a year ago).
Trump's net worth has dropped about 20% since 2019, Forbes reported.
The decline is largely the result of the COVID-19 outbreak, which has decimated values for office buildings and hotels, especially ones in big cities -- some of which represent Trump's largest holdings.
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The president's biggest losses compared to the year-ago period stemmed from his 30% stake in an office and retail space in New York City -- 1290 Avenue of the Americas -- which has seen its net value plummet $109 million since 2019.
Collectively, various real estate holdings that he has in New York City have dropped $326 million since last September, according to Forbes. (One property, Trump World Tower, increased $2 million in net value).
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Outside of New York, Trump has an assortment of properties in other cities, including Washington, Las Vegas, San Francisco and Chicago. Combined, their net value has dropped about $124 million.
The president's golf properties have also seen their net value drop, falling about $137 million since last September. Mar-a-Lago is the exception: Since last year, its net value has increased by roughly $10 million.
Trump's cash and personal assets are more of a mixed bag. While his homes in Florida have weathered the pandemic -- collectively, the net value of all three houses is up by about $4 million -- his penthouse in New York took a beating, falling about $9 million since last year.