Forbes Says Trump's Net Worth Has Dropped $1 Billion Because of the Coronavirus Pandemic
The Washington Post reported in late March that about 550 Trump Organization employees had been laid off amid the coronavirus crisis, as Trump’s hospitality holdings dropped from $107 million to $38 million over the last month.
The Trump Organization had been trying to sell its Washington, D.C., hotel. But those plans were paused, according to the Post.
Forbes estimated that Trump’s hotel profits were nearly cut in half, dropping from $80 million to $42 million.
The New York Times also reported on April 2 that the Trump Organization was seeking to defer loan payments to creditor Deutsche Bank, as the president’s company plotted its financial future and looked at the possibility of delaying its due payments to lenders and its property’s landlords.
“I wouldn’t say you’re thriving when you decide to close down your hotels and your businesses,” Trump told reporters at a March 21 coronavirus task force briefing, adding, “It’s hurting me and it’s hurting Hilton and it’s hurting all of the great hotel chains all over the world.”
More than 22 million Americans have filed unemployment claims since March.
“It’s hurting everybody,” Trump said at his March 21 briefing. “There are very few businesses that are doing well.”
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