Contact Your Financial Adviser Money Making MC
29
September 2016
The fortune of Republican
presidential nominee and real estate magnate Donald Trump currently is
estimated at some USD3.7 billion, while his debts exceed $1.13 billion, Forbes
magazine said on Wednesday. The Total Investment & Insurance
Solutions
According to the magazine, Trump,
who to date has refused to make public his tax returns claiming that he cannot
do so because he is under audit by the Internal Revenue Service, has seen his
fortune decline by some $800 million over the past year, EFE news reported.
"Forbes has been scouring
Trump's fortune for 34 years. Sometimes he's up, sometimes he down -- and for
much of the 1990s he was out of the three-comma club," with a net worth of
less than $1 billion, the magazine said. The Total Investment & Insurance
Solutions
Forbes said that of the 28 assets or
asset classes the mogul owns, most of them in real estate, 18 lost value over
the past 12 months due, among other things, to the "softening" of the
New York real estate market.
The jewel in the crown of his
empire, Trump Tower on Manhattan's 5th Avenue, is valued at some $471 million,
some $159 million less than a year ago, while the debt on the iconic property
rose to $100 million.
Forbes also provided estimated
valuations of other properties owned by Trump such as the 40 Wall Street
building, valued at $501 million with a debt of $156 million, and his private
Mar-a-Lago club in Florida, valued at $150 million, some $50 million less than
a year ago, EEF news added. The Total Investment & Insurance
Solutions
The magazine also said that seven of
Trump's investments have increased in value over the past year, including San
Francisco's second-tallest building -- 555 California Street -- in which he
owns a 30% share, valued at $317 million, up $32 million from last year.
In addition, the magazine said that
the only real estate deal that the billionaire closed this past year was to buy
an industrial park in Charleston, South Carolina, valued at some $3.5 million.
Forbes also said that Trump has
given some $7 million of his money to his election campaign and loaned it
another $48 million, although the magazine expressed certainty that he would
not recover those expenditures. The Total Investment & Insurance
Solutions
And Trump's 10 golf courses in six
US states plus the District of Columbia were valued at $225 million, including
estimated debt of $18.5 million. The Total Investment & Insurance
Solutions
Meanwhile, the mogul has some $230
million in cash, $97 million less than a year ago, and also owns three
helicopters and two private jets valued at some $35 million in total, the
magazine said.The
Total Investment & Insurance Solutions
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