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Analysis: Donald Trump got a *lot* less rich as president

April 7, 2021. Summarized by summa-bot.

Compression ratio: 52.3%. 2 min read.

During his four years as president, Donald Trump loved to remind people that being president was costing him a whole bunch of money.

(CNN)During his four years as president, Donald Trump loved to remind people that being president was costing him a whole bunch of money.

"I said to one of my friends, a very wealthy friend, I said, 'You know, I'll bet you it cost me $2 or 3 billion and it's worth every penny of it,'" Trump told Fox News in 2018.

While Trump's claims that being president cost him between $3 billion and $5 billion are WAY overblown, the new Forbes list of billionaires in America shows that Trump's fortune declined by more than $1 billion between when he took office in 2017 and when left office in January.

Trump is now worth $2. 4 billion, according to Forbes.

According to Forbes' Dan Alexander, Trump bears a decent chunk of the blame for the decline in his fortune.

Rather than divest of his assets when he was elected president, Trump instead put things in a trust managed by his two eldest sons, Donald Trump Jr. and Eric Trump.

Trump's net worth isn't a theoretical conversation about how many billions he is worth.

We know from detailed New York Times reporting about Trump's tax returns that the former President is personally on the hook for more than $400 million in loans that come due over the next few years and that his revenue streams -- most notably from his successful reality shows and his branding efforts -- are dwindling.

(Alexander has previously written that Trump is carrying more than $1 billion in debt. ) That, plus the fact that Trump's businesses generated 40% less revenue in 2020 as they did in 2019 suggest that the former President's current financial situation is less than ideal.

(Selling Trump properties, of course, would be mortifying and embarrassing for the ex-president. ) It's also possible that the financial institutions that hold Trump's loans will be willing to either roll them over for a few more years or renegotiate the terms.

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