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Politics

Forbes says Trump's wealth declines $800 mln in a year

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2016-09-30 13:17Xinhua Editor: Xu Shanshan ECNS App Download

The fortune of U.S. Republican nominee Donald Trump has shrunk 800 million U.S. dollars since 2015, according to Forbes magazine, increasing the mystery about how rich the millionaire really is.

The business magazine pegged Trump's net wealth now at around 3.7 billion U.S. dollars, citing the declines of New York city's real estate market for the loss.

Eighteen of the 28 assets or asset classes belonging to Trump group declined in value, including his trademark Trump Tower on Manhattan's Fifth Avenue, his 71-story 40 Wall Street and private club Mar-a-Lago in Palm Beach, the magazine reported on Wednesday.

Besides the value decrease in his property, the magazine also scrutinized Trump's presidential campaign cost and how much his controversial remarks about the Hispanics hit his business, which is worth about 150 million U.S. dollars in total.

The real wealth of the U.S. candidate remains a mystery as he boasted his worth was "in excess of 10 billion dollars" but Bloomberg's estimation is 3 billion U.S. dollars and Fortune puts it at 3.9 billion U.S. dollars.

During Monday's first presidential debate, Democratic nominee Hillary Clinton slammed Trump for having no guts to disclose his tax returns which may reveal that either he is not as rich as he claimed or he lies about his tax.

However, Trump's rebuttal that "you don't learn that much from tax returns" may be more true because his income can't offer a full picture of the value of his assets, debt or stakes, analysts said.

  

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