Trump's net worth plummets $1 billion amid coronavirus pandemic

WION Web Team
Washington, United States Published: Apr 03, 2020, 10:49 PM(IST)

US President Donald Trump and file photo coronavirus Photograph:( AFP )

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His net worth was $3.1 billion a month ago but it fell to $2.1 billion a month later.

US President Donald Trump's net worth has dropped by $1 billion in a single month as the novel coronavirus has infected his business according to the estimates released by the Forbes magazine.

His net worth was $3.1 billion a month ago but it fell to $2.1 billion a month later.

Also read: US employment falls 701,000 in March amid coronavirus pandemic

Before the coronavirus disrupted everything, the properties owned by Trump were valued at an estimated $1.9 billion after deducting debt. But by March 18, 2020, its prices dropped to an estimated $1.2 billion. 

The value of his Boston Properties and Vornado Realty Trust also went down by 37 per cent.

Also read: Coronavirus pandemic: 'Worst yet to come' for countries in conflict, says UN chief

Trump's business was specifically exempted from the US $2 trillion coronavirus bailout package and his company is seeking leniency from its top creditor as well as from Palm Beach County, Florida, according to media reports.

His organization has put plans to sell luxury hotel called 'Trump International' in Washington D.C. on hold as well.

Trump hotel

Trump representatives have contacted the German lender Deutsche bank, to ''discuss the possibility of delaying payments on some of the hundreds of millions of dollars of outstanding loans that the Trump Organization has from the bank.''

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