Republican presidential hopeful Donald Trump might not want to release his tax returns, but a popular business magazine claims to know the real estate mogul’s wealth.
Forbes magazine says the reality television star is currently worth $3.7 billion. That’s $800 million less than a year ago, the magazine said, adding that in the 34 years of covering Trump’s fortune, his wealth has gone both up and down.
The magazine said the reason for this year’s decline was “a softening of New York City’s real estate market, particularly in retail and office.”
Forbes said it looked at 28 assets or asset types. Eighteen of those, including Trump Tower in New York, declined in value. Seven of Trump’s assets went up, the magazine reported, naming San Francisco’s second tallest building at 555 California Street, as one property that increased in value.
The magazine reports Trump added a 4 percent stake in an affordable housing complex in Brooklyn and in what the magazine called Trump’s only real estate deal of the year, Trump bought a warehouse in Charleston, South Carolina which had been in foreclosure.
Trump reportedly gave his campaign $7 million and loaned it $48 million more. The magazine says it doesn’t expect Trump will get the money back.
The magazine added that when Trump said his company saw $694 million in income over the past year, it was actually over 17 months.