According to financial disclosure information In the hours after Trump left the White House to fly to his new home in Florida, the ex-president’s company of the same name was hit hard last year.
Overall, Trump’s stores were almost producing 40% In 2020 less revenue than 2019. He made $ 30 million less than 2019 on his Doral property in Miami. Revenue at the Trump International Hotel in Washington and the former President’s Turnberry property in Scotland fell more than 60% year-over-year back.
And, as noted by CNN’s Charles RileyThese downturns came before a number of companies severed ties following Trump’s role in inciting rioters who stormed the U.S. Capitol on Jan. 6.
While some – maybe a lot? – The downturn in Trump’s financial fortune can be put at the bottom of the ongoing coronavirus pandemic and the societal restraints it has placed on the entire travel and hospitality industry. The “why” of Trump’s plummeting wealth is far less important than the “what now.”
You will remember – and if not, let me remind you – that Trump faces a number of financial challenges in the months and years to come, primarily with his personal guarantees on a series of multi-million dollar loans related.
Like the New York Times David Leonhardt wrote about Trump’s tax returns End of 2020:
“He appears to be responsible for a total of $ 421 million in loans, most of which will mature within four years.
“Should he win re-election, his lenders could be put in an unprecedented position to weigh a seated president out. Winning or losing, he’ll likely have to find new ways to use his brand – and his popularity.” under.” Tens of millions of Americans – to make money. “
So Trump did not win re-election.
And not only that, but on his way to the door, he spread a string of lies about the 2020 election that resulted in a January 6 riot that led to the violent assault on the U.S. Capitol and sparked its second Impeachment by the House played a not insignificant role.
All of this is likely to further complicate Trump’s ability to a) make money and b) pay off looming debts.
The point: With all the talk about Trump’s next political move, it’s likely his delicate financial future that he is likely to focus on when not in office.