Since Trump left office in 2021, his wealth has increased by $500 million to $3.1 billion, as measured by the Bloomberg Billionaires Index.
Bloomberg says this is mainly due to the success of Trump’s most well-known properties in Florida, including the Mar-a-Lago club in Palm Beach and the Doral Miami golf resort.
The index has been measuring Trump’s net worth since 2015, and now that he has sold his Washington hotel and paid off loans, he has more cash and less debt than at any point in the preceding decade.
Since Bloomberg’s valuation of Trump’s real estate holdings does not account for the value added by the Trump name, the historical significance of some properties, or the potential value added by redevelopment or rezoning, Trump’s net worth maybe even higher than $3.1 billion, Bloomberg admits.
Bloomberg admits that its estimates have often been lower than Trump’s and that its assessments have been higher than several assertions made by New York state.
Trump’s wealth was estimated to be $4.5 billion in 2021, according to his financial statement included in the lawsuit filed against him by the New York Attorney General.
The Mar-a-Lago Club, a national historic site constructed in the 1920s by Marjorie Merriweather Post, is valued at $27.6 million in the complaint filed against the former president.
Real estate agents in Palm Beach estimate that the value of the 20-acre coastal property is $300 million minimum and $500 million maximum.
Brown Harris Stevens agent and Palm Beach resident Liza Pulitzer said the court’s assessed valuation “was a shock to the real estate community and anybody with an understanding of the island and its prices.”
Perhaps the most problematic piece of real estate scrutinized in the trial is Trump’s penthouse apartment at Trump Tower, which his firm valued at $131.3 million in 2021 and Bloomberg thinks worth $40 million now.
The apartments on Millionaire’s Row, Central Park South, start at $100 million, which Bloomberg acknowledges but claims are more modern, have outdoor space, higher ceilings, and more incredible vistas.
Trump claimed his penthouse had 30,000 square feet between 2011 and 2016, but New York state says it’s only 10,996 square feet.
While the Bloomberg Billionaires Index estimates Trump’s wealth to be $3.1 billion, there are good reasons to believe that he is worth far more than that.
Furthermore, Trump’s enormous, game-changing impact on real estate, especially New York real estate, since he first began developing it in the 1970s is not even hinted at in the essay.