The US President Donald Trumpʼs fortune fell by half a billion dollars in a few days after he imposed tariffs on 180 countries on April 2.
These are Forbes estimates as of April 8. Before the tariffs, the publication estimated the US presidentʼs fortune at $4.7 billion. Less than a week later, it has shrunk to about $4.2 billion — all as the value of his public stocks and private assets falls along with the broader market.
"President Trump has imposed tariffs on countries that have been deceiving us for years so that Americans benefit in the long run," White House press secretary Taylor Rogers said.
She said the president is focused on the country, not business. His assets have been transferred to a trust managed by his children while Trump himself runs the country.
Trumpʼs shares fell the most in Trump Media and Technology Group, down 8% over the past three trading days, reaching their lowest price since October of last year. His stake, which was worth $2.2 billion on Wednesday, is now worth about $2 billion. The US president has lost an estimated $170 million here.
Forbes writes:Trumpʼs commercial real estate holdings fell by about $90 million, assuming they experienced the same changes as publicly traded commercial real estate companies. Shares of Vornado Realty Trust, the firm that is Trumpʼs partner in two of his most valuable buildings, 1290 Avenue of the Americas in New York City and 555 California Street in San Francisco, fell 14% when the US president announced the tariffs.
Another major New York real estate company, SL Green, fell 15%. Trumpʼs portfolio, which includes Vornado, Trump Tower and 40 Wall Street, is now valued at $570 million, down from $660 million last week.
Golf assets are also losing value, as many of the balls, clubs and tees in pro shops are imported from overseas. But the real threat to Trumpʼs assets, Forbes says, is the potential for cost savings. Club members could start spending less on weddings, lavish dinners or even give up their memberships.
Trump’s golf club business has no direct parallel among public companies, but the market is showing signs that things could get worse. Shares of expensive leisure companies like Vail Resorts and Soho House have fallen more than 15% since Wednesday. Topgolf Callaway Brands, which makes golf clubs and operates golf courses, has also seen a similar decline. If something similar happens to Trump’s golf business, he could lose another $70 million.
Trumpʼs hotel assets are also in bad shape — he owns hundreds of hotel and residential units in Chicago and Las Vegas, with the Trump National Doral resort in Miami considered the largest. If their value falls by 16%, it will cost him another $65 million. And his smaller businesses related to licensing and brand management could lose about $15 million more.
Residential real estate has also fallen in price: shares of four companies that own apartments have fallen by an average of 13%. Trump owns dozens of apartments in buildings he built many years ago. If their value falls, he will lose about $ 20 million more. His most protected assets may be the penthouse in Trump Tower and the Mar-a-Lago estate. According to Dana Koch, a luxury real estate agent, such assets are valued differently than stocks on the stock exchange — they are rare and therefore more stable. But even if their value falls by only 5%, Trump will lose another $ 32 million.
Trump’s financial report says he owns a portfolio of bonds and some stocks, including a stake in private equity firm Blue Owl Capital. Its value ranges from $5 million to $25 million and has fallen 22% since Wednesday. Since August, when he filed the report, Trump has made two big gains through cryptocurrency projects. The first is World Liberty Financial, which promised a “financial revolution” and reportedly transferred nearly $400 million to Trump and his family. The second is the $TRUMP coin, which is believed to have brought in another $175 million before taxes.
The problem is that Trump may have left some of that money in cryptocurrencies, which are highly volatile. His son Eric praised Ether in February, but the currency has since fallen 45%, including an 18% drop after news of Trump’s tariffs. Assuming his $350 million in profits fell at least half as much as Ether, that’s still a $32 million loss.
- On April 2, the US President Donald Trump reported that he would impose tariffs on goods from other countries. The new tariffs will apply to more than 180 countries and territories (not including Russia, North Korea, Cuba and Belarus, which are already under sanctions). A 10% tariff was imposed on Ukraine.
- The next day, the 500 richest people on the planet lost a total of almost $208 billion due to these tariffs.
For more news and in-depth stories from Ukraine please follow us on X.