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Donald Trump’s Net Worth Keeps Dropping. How the Presidency Is Making Him Poorer

Donald Trump may be president of the world’s biggest economy, but that doesn’t mean he’s getting richer.

According to figures compiled by Bloomberg, Trump’s net worth has actually dropped since becoming president.

Trump’s net worth has dropped more than $100 million over the past year, down to $2.8 billion—the lowest since his campaign for president. While that may still be a bigger number than most of us can ever hope to see next to our name, it marks a continued decline for Trump.

This is the president’s second drop in net worth in the last two years. Bloomberg notes that much of the decline can be attributed to falling revenue from his tower on Fifth Avenue in New York and from his golf courses, as well as the loss of buildings in Toronto, Manhattan, and Panama.

This continued decline comes in spite of Trump not “divesting assets that might pose conflicts for his presidency.” Trump chose to put his sons in charge rather than sell parts of his company. Nevertheless, Bloomberg’s net worth estimate could be low if Trump has assets or received payments that have not been publicly disclosed.

For his part, Trump does appear to have higher estimates for his own net worth. He has variously claimed he was worth $8.7 billion and more than $10 billion. However, most estimates put that number closer to $3 billion—a figure more closely aligned with Bloomberg’s latest projection.