Since President Donald Trump took over the office, his personal wealth index had been particularly stable until the end of last year – neither a grand addition nor a threatening loss. However, it is recently that President Trump has observed the steepest erosion in his wealth since he took the helm of America in his hands.
According to the Bloomberg Billionaires Index, currently, Trump stands at $2.7 billion. The President took the office with $3 billion to his credit - which means a considerable fall of a whole 10 percent in his wealth.
Bloomberg has said that since the global news agency started tracking Trump’s wealth in 2015, such a huge drop hasn’t been seen. It’s the coronavirus taking its toll on Trump and other real estate investors' wealth.
Although Trump’s wealth was already collapsing before the pandemic hit, the significant fall came about as the virus negatively impacted the value of the commercial real estate.
President Trump may not be as concerned about the direct nature of the decline in wealth as he must be about its implication for the American citizens. As the election date nears, the people of States are sure to ask for financial security, an assurance that can allow them to advance further without having to worry a lot about the financial risks.
In contrast, the news of the loss of $300 million from the US President’s wallet is not so assuring. However, it is likely that Trump’s wealth-drop is due to the fact that most of his attention and focus now circles around the nation rather than his personal business. The coronavirus pandemic has further deepened the worries due to lagging market values of most industries other than technology and energy.
As yet, the President hasn’t given his take on the news, but it’s certain – when he does, it’ll be an interesting one to know.
The intensity of election campaigns has surged dramatically in the past few months. Democrats may now want to take a jab at the President taking advantage of the wealth-drop news. Every new happening is turning into a fresh agenda for election purposes, generally at the expense of each other.
However, the fact can’t be turned down that Americans need financial security more than ever before and it may now be tougher for President Trump to give people a view of a brighter and financially-strong future to people of America who are now close to vulnerability. Besides American citizens, political experts are also awaiting Trump's response.