Donald Trump is having a bad week. The former president was indicted on charges of falsifying business records, and it looks like his finances have taken a fall, too.
According to Forbes, Trump’s bank account fell from $3.2 billion to $2.5 billion. One reasons for the decrease in Trump’s finances was his being banned from Twitter in January 2021.
Newsweek adds that Trump’s social media company, Trump Media and Technology Group, was worth $730 million. As of today, Trump Media is worth $180 million. The magazine also reported Trump’s finances have fluctuated over the years—from $4.5 billion in 2015 to a net worth of $2.1 billion in 2020. It’s now around $2.5 billion.
Other numbers, according to Newsweek: Trump’s golf courses and resorts are valued at $730 million, and his real estate properties are valued at $720 million.
“His cash and personal assets total $610 million, and his social media and brand business bring in $240 million,” Newsweek writes. “The former president also has $230 million in real estate outside New York City.”
Forbes reports that the fall in Trump’s net worth results from his social media assets losses. Also this week, the magazine released its list of the world’s billionaires, and Trump, three years removed from his presidency and running for the Republican nomination in 2024, sits at No. 1,217. That ties him with Jay-Z and Oprah Winfrey.
Yesterday, Trump was arrested after turning himself in to face charges of 34 counts of falsifying business records, stemming from alleged hush money paid to the porn star Stormy Daniels in an effort to cover a sexual encounter Trump is alleged to have had with Daniels.
According to several reports, falsifying business records is referred to as “catch and kill.” This is a tactic used to hide information that could harm or end the careers of politicians and businessmen.
Trump, 76, pleaded not guilty to all of the charges.