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Sunday, October 2, 2016

Is Donald Trump's campaign making him broke?

From CNBC



Donald Trump is still way richer than you are, but the gap is closing, according to new calculations of the presidential hopeful's net worth.

Declines in New York real estate hit the businessman's fortune, knocking $800 million off what had been a $4.5 billion net worth in the last year, a Forbes probe has found. The magazine examined 28 Trump assets and found that 18 had declined in value, the most notable being the Trump Tower in Manhattan, his 40 Wall Street property near the New York Stock Exchange, and his ritzy Mar-a-Lago club in Palm Beach, Florida.

Trump Tower, the Fifth Avenue building showcased on his former NBC show "The Apprentice," is his most valuable property with a value of $471 million, according to Forbes. Outside of New York, the top asset is his 555 California Street building in San Francisco, with a value of $1.645 billion, an increase over the past year of $32 million.

During the course of the campaign, Trump has made much of his successful career and his high net worth, which he has estimated as high as $10 billion. By contrast, his Democratic opponent Hillary Clinton has a net worth of $31.3 million, according to financial disclosure reports cited by Money Nation.

The Trump campaign did not immediately respond to a request for comment.

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