Trump's Net Worth Has Shrunk by $700 Million, Analysis Finds — as Son Eric Says 'We Have the Best Assets'
The former president's net worth stands at about $2.3 billion, according to Bloomberg's latest assessment
A new Bloomberg analysis finds that Donald Trump's net worth has steeply declined by some $700 million — from $3 billion to $2.3 billion — in the years since he became president and went on to lose his re-election bid.
Bloomberg's report sheds light on the challenges facing the Trump Organization in large part because of the COVID-19 pandemic.
Over the past year, according to Bloomberg, the pandemic that Trump had vowed would "disappear" has instead roiled his real estate and hospitality business. (A spokesperson for the Trump Organization did not respond to a request for comment on Thursday.)
The former president has more than $256 million in commercial real estate debt, though his properties are still valued in total at about $1.7 billion, according to Bloomberg.
Meanwhile, the business news outlet describes the Trump Organization's financial stake in resorts and hotels around the world to be in "sad" shape, dropping about 42 percent in value since he launched his presidential bid in 2015.
Trump has $330 million in debt to pay off in that sector, while longtime lender Deutsche Bank said it would no longer back the mogul following the Jan. 6 U.S. Capitol attack.
Eric Trump — former President Trump's second-oldest son, who took over operations for the Trump Organization alongside older brother Donald Trump Jr. — shot back at the new analysis in a statement to PEOPLE.
"Bloomberg's valuation is a joke," Eric, 37, said. "We have the best assets in the world, have extremely low debt relative to our holdings and have [an] incredible strong cash flow."
Banks, city governments and a number of entertainment organizations also announced they were cutting ties with Trump after the deadly riot by throngs of his supporters.
While Bloomberg reports that golf has been "one of the few bright spots" for Trump and his business during the pandemic, his ties to its biggest organization were likewise severed in the wake of the insurrection.
Eric has blamed the family's fallout with other businesses after the Capitol riot on "cancel culture."
In its analysis, Bloomberg describes Trump's book deals as a "total disaster" as well. His income from memoirs and business books dropped roughly 87 percent since 2015, earning him about $119,000 in 2020.
Trump's few gains came from his private Mar-a-Lago Club in Palm Beach, Florida, and the Trump Winery in Charlottesville, Virginia, according to Bloomberg.
Mar-a-Lago, where he has been living since leaving the White House in January, earned $22.9 million in 2020 compared to $22.3 million in 2015.
The former Apprentice host's entertainment career also has a "sad" outlook, according to Bloomberg: Trump's income from the entertainment sector dropped about 99 percent since 2015 as his political turn and incendiary rhetoric left him roundly rejected by much of Hollywood.
Trump has more recently teased new ventures in journalism and social media as well as jumping back into television, but it's not clear if he would be welcomed back. He was banned from ever rejoining the SAG-AFTRA actor's union in February after he resigned under mounting criticism from the group following the Capitol attack.
Elsewhere Trump is facing a mounting number of legal issues in his post-presidential life.
"Fraud was not just the family business," his niece, Mary Trump, wrote in one lawsuit against him and his siblings over allegations the family stole her inheritance, which they deny. "It was a way of life."