The final year of Donald Trump's presidency extracted nearly a third from his fortune.
The twice-impeached one-term president's net worth declined from an estimated $3 billon to $2.3 billion, according to the Bloomberg Billionaires Index, after the pandemic he bungled and the Capitol insurrection he incited damaged his commercial real estate and hotels businesses and hurt his brand.
"These are the businesses you don't want to be in right now," said Ruth Colp-Haber, who runs office consultant Wharton Property Advisors.
Trump faces a "triple whammy" from COVID-19, the Jan. 6 insurrection and an aging portfolio of properties, according to Colp-Haber.
His most vulnerable property is a 30-percent stake in a pair of San Francisco skyscrapers owned by Vornado Realty Trust and New York City that have lost $80 million of their value since 2019, down to $685 million, and he's offering incentives at his Art Deco tower at 40 Wall Street to keep tenants from leaving -- and the broker that handled leasing there has already cut ties after the riot.
Trump also lost Deutsche Bank AG, whose loans to the ex-president and other financial activity have fallen under investigation, as a lender after the insurrection, and New York City wants to revoke contracts with his family to run ice rinks, a carousel and golf course.
Trump International Hotel in Washington, D.C, which once hosted the president's supporters and others hoping to curry favor with the president, has been steadily losing revenue since 2019 -- when it hit the market, where it remains -- and lost its brokers in January.