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AP Photo/Mark Lennihan
A tough year for Trump Tower.

Forbes just reappraised the value of Donald Trump’s assets

By Ismat Sarah Mangla

Donald Trump is on a losing streak, if not in the polls then in the value of his real estate portfolio. A new examination of his assets by Forbes magazine indicates that the billionaire presidential candidate’s fortune is worth $3.7 billion, down $800 million from 2015.

Trump himself has suggested his net worth is upwards of $10 billion, though that includes the value he assigns to the Trump brand. Forbes, which has tracked Trump’s wealth for more than three decades, analyzed hard assets only—28 of them, including commercial properties, private residences, his licensing businesses, and cash. Eighteen of those assets had declined in value over the last year, including 16 of his 22 commercial real estate properties.

Most of the drop—$475 million—is attributed to the decline in New York real estate, where much of Trump’s wealth is held.

Trump Tower, the iconic building on Manhattan’s Fifth Avenue and site of his former NBC show The Apprentice, is currently worth $471 million, Forbes says—down $159 million since 2015. Mar-a-Lago, his ritzy private club in Palm Beach, Florida, also suffered, falling $50 million in value to $150 million. His lower Manhattan property 40 Wall Street, currently estimated at $345 million, dropped by $28 million from the previous year.

Several properties did gain value, including the 555 California Street building in San Francisco, in which Trump owns a 30% stake. The office building is valued at $1.65 billion, up $32 million from the previous year.

Other assets that were down for the year included his cash and liquid assets, tallied at $230 million, down from $97 million from the previous year, and his hotel management and licensing business, which suffered a $229 million loss for a current valuation of $129 million. Forbes reports that Trump gave his own campaign $7 million and loaned it another $48 million, though the magazine “does not expect” Trump will get it back.

Trump has famously suggested that his brand itself is worth several billion dollars. But Forbes does not assign any dollar value to the brand in its calculations. “Great businessmen turn brands into profits, which then get valued,” write Forbes reporters Chase Peterson-Withorn and Jennifer Wang.

Forbes had previously estimated Trump’s wealth at $4.5 billion, while Bloomberg calculated it at $2.9 billion.