Forbes Claims Tariffs Cost Trump $500m Personally
The recent wave of tariffs imposed by US President Donald Trump has caused significant turmoil in stock markets. According to Forbes, Trump’s net worth has plummeted by half a billion dollars in under a week following the introduction of extensive...
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The recent wave of tariffs imposed by US President Donald Trump has caused significant turmoil in stock markets.
According to Forbes, Trump’s net worth has plummeted by half a billion dollars in under a week following the introduction of extensive tariffs.
Last week, Trump revealed a sweeping array of new tariffs on imports from various countries, including a hefty 34% tax on Chinese goods. In response, Beijing has vowed to impose a corresponding 34% tariff, leading Trump to increase the total tariff on Chinese imports to 104%. This escalation has fueled fears of a trade war, which has negatively impacted global equity markets, resulting in a loss of approximately $10 billion in stock value as of Monday, according to Bloomberg.
Forbes reported that Trump's net worth declined from an estimated $4.7 billion to $4.2 billion in less than a week “as the value of his public stock and private holdings fall in tandem with the broader market.” The publication based its analysis on the combined value of Trump’s publicly traded stocks and assessments of his privately owned companies.
The Trump Media and Technology Group, his most valuable asset, experienced an 8% depreciation, which amounts to a loss of about $170 million in his stake in the company, as noted by Forbes.
Based on the average decline of major real estate stocks following the ‘Liberation Day’ tariff announcement, Trump’s commercial and residential real estate holdings likely decreased by around $110-142 million.
His golf clubs could have incurred losses of approximately $70 million, attributed to potential “belt tightening” among members, as per Forbes. Additionally, his hospitality properties might have seen a decline of around $65 million, while his smaller licensing-and-management business is estimated to have lost another $15 million.
Forbes further suggested that Trump could have suffered tens of millions in losses on cryptocurrency holdings.
The primary risk to the president’s private assets stems from the erosion of investor confidence triggered by his tariff war, as highlighted by Forbes.
Despite the adverse market conditions, Trump has defended his actions, asserting that the tariffs are generating billions for the US budget.
Numerous prominent US investors have voiced their opposition to the tariffs, cautioning against severe repercussions for the US economy. Notably, Elon Musk, Trump’s advisor and government efficiency czar, reportedly attempted to persuade Trump to reconsider the tariffs but was unsuccessful, according to the Washington Post.
Aarav Patel for TROIB News
According to Forbes, Trump’s net worth has plummeted by half a billion dollars in under a week following the introduction of extensive tariffs.
Last week, Trump revealed a sweeping array of new tariffs on imports from various countries, including a hefty 34% tax on Chinese goods. In response, Beijing has vowed to impose a corresponding 34% tariff, leading Trump to increase the total tariff on Chinese imports to 104%. This escalation has fueled fears of a trade war, which has negatively impacted global equity markets, resulting in a loss of approximately $10 billion in stock value as of Monday, according to Bloomberg.
Forbes reported that Trump's net worth declined from an estimated $4.7 billion to $4.2 billion in less than a week “as the value of his public stock and private holdings fall in tandem with the broader market.” The publication based its analysis on the combined value of Trump’s publicly traded stocks and assessments of his privately owned companies.
The Trump Media and Technology Group, his most valuable asset, experienced an 8% depreciation, which amounts to a loss of about $170 million in his stake in the company, as noted by Forbes.
Based on the average decline of major real estate stocks following the ‘Liberation Day’ tariff announcement, Trump’s commercial and residential real estate holdings likely decreased by around $110-142 million.
His golf clubs could have incurred losses of approximately $70 million, attributed to potential “belt tightening” among members, as per Forbes. Additionally, his hospitality properties might have seen a decline of around $65 million, while his smaller licensing-and-management business is estimated to have lost another $15 million.
Forbes further suggested that Trump could have suffered tens of millions in losses on cryptocurrency holdings.
The primary risk to the president’s private assets stems from the erosion of investor confidence triggered by his tariff war, as highlighted by Forbes.
Despite the adverse market conditions, Trump has defended his actions, asserting that the tariffs are generating billions for the US budget.
Numerous prominent US investors have voiced their opposition to the tariffs, cautioning against severe repercussions for the US economy. Notably, Elon Musk, Trump’s advisor and government efficiency czar, reportedly attempted to persuade Trump to reconsider the tariffs but was unsuccessful, according to the Washington Post.
Aarav Patel for TROIB News
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