Of course, it’s not costing him nearly as much as it’s costing the rest of us.
Courtesy of NBC News:
The presidency has been bad for Donald Trump’s finances, with his personal net worth falling from $4.5 billion to $3.1 billion over the past two years, according to the latest Forbes billionaires list.
Trump dropped 138 spots to 259 on the Forbes 400, an annual measure of the richest people in the U.S. During that same period, Amazon founder and CEO Jeff Bezos rose to the top spot, with an estimated fortune 52 times greater than that of the president, at $160 billion.
Forbes attributed the decline of Trump’s fortune to three main factors: e-commerce eating into the value of Trump’s real estate holdings, the intrusion of heightened security at Trump’s resorts, and Trump’s own over-reporting of the size of his penthouse.
“Much as he’s trying — and he’s definitely trying — Donald Trump is not getting richer off the presidency,” according to Forbes.
Revenue from Trump-branded ties, whiskeys, MAGA hats and other merchandise has plummeted to just $3 million from $23 million in 2015. “He has significantly tarnished the brand,” licensing expert Jeff Lotman told Forbes.
I still don’t think that Trump is worth nearly this much, but I have no doubt that he is hemorrhaging money.
What’s more, I predict that by the time he leaves office his name will be so tainted that putting it on any product will guarantee its failure.