Some people, after they are elected president, do everything to make a pile. Others, on the contrary, risk turning from billionaires into ordinary millionaires. Notably, former US President Donald Trump is one of them.
It seems obvious that when you are the president of the world's only superpower, your capital should increase enormously. The truth is that everything turns out to be quite tricky. Even if you are at the helm of the top global economy, it is either impossible for you to have a share of the pie or you simply lack wit. During his tenure as president, Trump's net worth fell by a quarter to $2.3 billion from $3.0 billion. For his presidential career, the politician spent several billion dollars only on lawyers.
According to Bloomberg that publishes its billionaire ranking, Trump Organization total revenue dipped to $278 million in 2020, down by 38% from 2019. Revenues from golf courses in the UK and Ireland declined by two-thirds, while store sales at Trump Tower in New York fell fivefold.
It was the storming of the Capitol that delivered another powerful blow to Trump. This incident seriously damaged his reputation as well as relations with brokers and lenders. Large international banks such as Deutsche Bank and Signature Bank even refused to cooperate with the ex-president.
