The US president’s tariffs on imports have destabilized stock markets
Forbes estimates that US President Donald Trump’s wealth has decreased by $500 million in under a week following his implementation of widespread tariffs.
Trump recently declared new tariffs on imports from numerous countries, including a 34% tariff on Chinese goods. China vowed to respond with a matching 34% tariff, leading Trump to increase the tariff on Chinese goods to 104%. Concerns about an escalating trade conflict have destabilized global stock markets, resulting in approximately $10 billion in stock losses as of Monday, according to Bloomberg.
Forbes reported on Tuesday that the estimated value of Trump’s assets declined from $4.7 billion to $4.2 billion in less than a week “as the value of his public stock and private holdings fall in tandem with the broader market.”
The publication offered a detailed calculation based on Trump’s publicly traded stock and assessments of the value of his privately owned businesses.
Forbes stated that Trump Media and Technology Group, the president’s most valuable asset, fell in value by 8%, decreasing his stake in the company by roughly $170 million.
According to Forbes, his commercial and residential real estate holdings would have decreased by approximately $110-142 million, based on the average decline in the stocks of major real estate companies following the president’s tariff announcement.
Forbes suggested that Trump’s golf clubs likely lost around $70 million due to potential “belt tightening” among members. It added that his hospitality assets could have also decreased by approximately $65 million, while his smaller licensing-and-management business may have lost an additional $15 million.
Forbes estimated that Trump could have lost tens of millions more on cryptocurrency assets.
Forbes asserts that the most significant risk to the president’s private assets is the loss of investor confidence resulting from his tariff war.
Despite the market downturn, Trump has defended the tariffs, asserting that they are already generating billions for the US budget.
Several prominent US investors have criticized the tariffs and cautioned about severe consequences for the US economy. According to the Washington Post, Elon Musk, the president’s advisor, personally tried to persuade Trump to reconsider the measures but was unsuccessful.