Forbes estimated that Trump’s net asset value fell US $ 500 million in less than a week, after he imposed a new import tax on countries around the world.
Last week, President Donald Trump announced a series of new tax rates for goods imported from dozens of countries to the United States. Typically, the US President applied a 34% reciprocal tax rate for Chinese goods, thereby raising the total import tax to 54% for all items from China. Beijing responded by the notice that will impose a 34% import tax for all US goods, starting on April 10.
According to Bloomberg, anxiety about an escalating war shook the global stock market, and wiped out about 10 billion USD of stocks as of April 7.
On April 8, Forbes said the value of Mr. Trump’s own net asset decreased from US $ 4.7 billion to $ 4.2 billion in less than a week “due to public stock value, and his private shares decreased with the market in general”. The figure given by Forbes is based on the total number of shares of Mr. Trump, and estimates his private companies.
According to Forbes, Trump Media and Technology Group Technology and Media Company, which holds the most valuable assets of the US President, have lost 8%, wiped out about $ 170 million of Mr. Trump’s shares in the company.
In addition, Forbes estimates that Trump’s value of commercial real estate and housing will also reduce about 110 – 142 million USD. In addition, Mr. Trump’s golf clubs can lose about 70 million USD, because the possibility of members will “belt”. Mr. Trump may even lose tens of millions of dollars of assets held in cryptocurrencies.
But Forbes emphasized that the biggest threat to the US President’s personal property came from investors who lost their faith, due to the tariff battle he initiated.
Despite the wave of protest, Mr. Trump still protects the new tax policy, and affirms the tariffs are bringing billions of dollars to the US budget.
In fact, a number of famous investors in the US have criticized and warned serious consequences for the country’s economy because of the new tariff policy. The Washington Post reported that the richest billionaire in the world, and Mr. Trump’s adviser and the Ministry of Elon Musk’s effective leader (Doge) Elon Musk tried to convince the US President to reverse tax decisions, but failed.
