Trump is worth $3.2 billion: Forbes unveils a new estimate – a week after the fraud lawsuit in New York

Donald Trump’s net worth has increased since leaving office in January last year, Forbes reported on Tuesday.

The outlet’s annual wealth tracker estimated that the former president’s net worth was $3.2 billion, $700 million more than it was in September 2021.

It’s the most Trump deserves since he’s been president.

Forbes estimated it was worth $3.7 billion in 2016, and fell by more than a billion in 2020 and 2021 — at a time when the COVID-19 pandemic was wreaking havoc on the global economy.

The September 2022 number restored Trump his place in the Forbes 400 Most Wanted List at number 343.

Trump was dropped from the list last year – the first time in 25 years that he hasn’t been included.

The news comes a week after the state of New York filed a lawsuit against him, his three older children and their real estate empire for alleged fraudulent business practices.

New York Attorney General Letitia James has accused the Trump Organization and its four Trump family directors of deliberately using misleading financial statements, and inflating real estate prices by billions, to obtain favorable deals.

He has also returned to the Forbes 400 list after losing the coveted rating of $400 million in 2021

For example, the value of his mansion in Mar-a-Lago in Florida was estimated at $739 million. James’ office claims he should have been valued at $75 million.

James Trump was also accused of claiming that a Manhattan penthouse is three times larger than its actual size and valued at about $330 million.

“To this date, no other New York City apartment has been sold for this amount,” the attorney general said.

Last year was the first time Trump was taken off the list in 25 years

according to The Hollywood ReporterIn 2019, a hedge fund billionaire paid $238 million to buy a four-level penthouse in 2019.

Not surprisingly, the majority of Trump’s net worth in 2022 is real estate.

He is estimated to have $880 million in New York City real estate alone.

His properties outside the Big Apple are estimated to be $290 million, while his golf clubs and resorts are estimated to be $740 million.

Trump’s social media and branding also make up a large portion of his $790 million net worth.

The former president ventured into the social media c-suite earlier this year by launching his own platform, Truth Social. He created it after he was kicked out of Facebook and Twitter in the wake of last year’s attack on the US Capitol.

The company behind it, Trump Media and Technology Group, is considered his “most valuable asset” by Forbes. Its value is estimated at $730 million.

As estimated by the outlet, he owns 80 percent of the shares.

However, this value can be volatile – it is based on an agreement with a special purpose acquisition company, or a “blank check” company to buy the business and put it out to the public.

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Meanwhile, Trump is facing a lawsuit from New York State Attorney General Letitia James for allegedly misrepresenting the value of his real estate holdings to obtain favorable deals.

That deal faced many hurdles, including inquiries by the Securities and Exchange Commission (SEC).

Trump’s net worth also rose due to the sale of his Washington, DC hotel. It opened shortly before he was elected president – although the deal began about a decade ago – and closed earlier this year. It later reopened as the Waldorf Astoria Hotel.

His wealth fell sharply in March 2020, when the pandemic took hold of the global economy. Health restrictions and travel bans have dealt a huge blow to the hospitality and tourism sectors, and the value of luxury apartments in some major cities has plummeted.

At the time, his net worth decreased from $3.1 billion to $2.1 billion.

His commercial real estate holdings were initially valued at $1.9 billion before the unrest, and were valued at $1.2 billion after the pandemic in March.

Companies found little need for office space when restrictions forced most of the white-collar workforce to work remotely, and cafes and stores supporting office lifts suffered.