Trump's net worth declines by USD500 million after implementation of wide range of tariffs
(MENAFN) US President Donald Trump's net worth has reportedly declined by $500 million in just under a week following his implementation of a wide range of tariffs, including a 34% tax on Chinese imports. According to Forbes, this drop came as global equity markets reacted to the trade war, causing a significant decrease in the value of stocks, including Trump's own assets.
Trump's net worth fell from $4.7 billion to $4.2 billion, with notable losses in his public stocks and private holdings. His Trump Media and Technology Group, the president’s most valuable asset, saw an 8% depreciation, losing around $170 million. Other assets, such as commercial real estate and golf clubs, also took a hit, losing $110-$142 million and $70 million, respectively.
Despite the financial setbacks, Trump defended the tariffs, claiming they would generate billions for the US budget. However, critics, including prominent investors and his advisor Elon Musk, have warned of negative long-term consequences for the economy.
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