If there’s one thing Donald Trump loves more than being popular, it is being rich. Judging from his current low approval ratings, he isn’t very popular at the moment and today he got even more bad news with the release of Forbes latest list of the wealthiest people on the planet.
According to Forbes, the president fell 220 spots and currently sits at number 544 where he is worth about $3.5 billion which is $1 billion less than last year. While still an obscene amount of money, we wouldn’t be surprised if the president disputed the contents of this list.
After all, Forbes list actually contradicts a statement Trump released during his campaign, where he said he was worth more than $10 billion. In fact, while they were understandably overshadowed by the racist comments about Mexicans, during his announcement speech Trump bragged about his wealth as one of his qualifications for the presidency.
‘And I have assets— big accounting firm, one of the most highly respected— 9 billion 240 million dollars.
‘And I have liabilities of about $500 million. That’s long-term debt, very low interest rates.
‘In fact, one of the big banks came to me and said, “Donald, you don’t have enough borrowings. Could we loan you $4 billion”? I said, “I don’t need it. I don’t want it. And I’ve been there. I don’t want it.”
‘But in two seconds, they give me whatever I wanted. So I have a total net worth, and now with the increase, it’ll be well-over $10 billion…’
Yet, once again, Trump’s numbers don’t match up with Forbes’ numbers. The magazine said that his decline in wealth was due to the money he spent on his successful presidential campaign and the declining Manhattan real estate market.
‘Forty percent of Donald Trump’s fortune is tied up in Trump Tower and eight buildings within one mile of it. Lately, the neighbourhood has been struggling – relatively speaking.’
However, the magazine also stated that he only fell about one billion dollars from last year so they don’t appear to believe he was ever worth $10 billion. Currently, it is just Trump’s word verses Forbes’, but there’s a very simple way for the president to prove that he’s as wealthy as he says he is. He simply needs to release his tax returns — then everyone can see just how successful he really is.
That being said, there were some bits of good news for Trump. Forbes noted that the value of his Mar-a-Lago resort increased by about $25 million. This likely due to the simple fact that many wealthy people joined with the hopes of earning the president’s ear.
However, even with that influx of cash at his disposal, Forbes still calculates that Trump’s wealth is much lower than what he claims it is. So, once again, all Trump needs to do is release his tax returns. Once he does that, we can all see just how wealthy and successful he really is. Of course, it is highly unlikely that Trump will ever release his tax returns because it is starting to look like he has something to hide.
Featured image via Getty Images.