The index stated that it believes the former president is now worth $3.1 billion, up from about $2.6 billion since January 2021 after President Joe Biden’s inauguration.
The reason for the increase, according to the index, is due to the former president’s properties having appreciated in value between 2021 and 2023. It noted that a number of his properties in Manhattan—including the Trump Tower on Fifth Avenue—are worth hundreds of millions of dollars each, his Mar-a-Lago resort in Florida is worth about $240 million, a number of other properties and holdings are also worth hundreds of millions, and his liquid assets are said to be about $600 million.
The index noted that it valued President Trump’s assets by using a 2021 statement that he made of his financial condition, an August 2023 Office of Government Ethics filing, market data, and mortgage filings. The properties, the index said in a footnote, were valued “as is,” which means the value of their potential development was not considered.
Meanwhile, the Trump Media & Technology Group that helps run his Truth Social net worth was valued under the index using the range indicated by President Trump on his ethics disclosure. A merger with the company Digital World Acquisition Co. has not been completed.
The update in his wealth comes amid speculation that he may have lost billions of dollars amid legal fees and other business losses since he became president and also as he faces a New York civil fraud trial. However, his son, Eric, told Bloomberg on Tuesday that the Trump Organization remains strong.
“The company has never been stronger and never been better,” the younger Trump, the executive vice president of the Trump Organization, told the outlet. “We have the most cash and the lowest debt. We are in a fantastic spot.”
It said in October that his net worth is down about $600 million from a year ago, with the magazine saying it’s due to Truth Social not performing as well as was previously forecast. Forbes also factored in some of President Trump’s office buildings having poorer-than-anticipated outlooks, although it noted that his famed golf courses are performing much better in recent years.
Liza Pulitzer, a real estate agent at Brown Harris Stevens and a Palm Beach resident, told Bloomberg that she believes Mar-a-Lago is worth more than Bloomberg’s estimate—or estimates made by prosecutors or the judge in the New York civil fraud trial.
“It could easily fetch $500 million or more,“ she said, adding that the New York judge’s estimate ”was a shock to the real estate community and anybody with any understanding of the island and its values.”
In the civil fraud trial, the former president and his sons have denied wrongdoing and said their assets were undervalued. President Trump also has said that his financial statements added disclaimers and said the figures were evaluated by banks.
More Testimony
Also on Monday, the former president said New York Attorney General Letitia James’s case against him “is a disgrace” and that people in New York City are being “murdered” while she sits and watches the proceedings.“It is election interference because you want to keep me in court all day long,” he said on the witness stand, adding that he wants a jury.
“There was never an option to choose a jury trial,” a Trump spokesperson later told Fox News. “It is unfortunate that a jury won’t be able to hear how absurd the merits of this case are and conclude no wrongdoing ever happened.”
In September, Judge Arthur Engoron ruled the former president and the Trump Organization committed fraud while building his real estate holdings in New York state, claiming that they deceived insurers and banks by exaggerating his net worth and assets.
“He ruled against me without knowing anything about me,” President Trump said on the stand, referring to the Democrat judge. “He called me a fraud, and he didn’t know anything about me.”
“How do you call a man a fraud when you have a property 50 to 100 times more?” President Trump said on Monday, referring to the judge’s previous statements regarding his property and asked about the $18 million figure he had listed. “You believed the political hack back there, and that’s unfortunate.”
