President Donald J. Trump delivers remarks in support of the Farmers to Families Food Box distribution program Monday, Aug. 24, 2020, at Flavor First Growers and Packers in Mills River, North Carolina. (Official White House photo by Shealah Craighead)
President Donald Trump's corporate worth is an issue now because the New York attorney general, Letitia James, who campaigned on the platform of getting him, is claiming in a civil case he inflated the values of his properties.
She is insisting on $250 million in damages is owed. And she wants the courts to kill Trump's business entities entirely.
Judge Arthur Engoron already has ruled there was "fraud," even though there's no evidence of any loan defaults, any complaints from business associates or anything like that.
Further the paperwork involved in Trump's real estate deals included a disclaimer, telling purchasers, or sellers, they should do their own due diligence on property values, which is a standard clause in many contracts.
But now that Engoron, on his own, wildly ruled that Trump's Mar-a-Lago home was worth only about $18 million, drawing dropped jaws and laughter from experts in real estate, a report has appeared with documentation.
The Epoch Times explains Trump's net worth "jumped by more than $500 million since he left the White House in early 2021."
That detail comes from Bloomberg Billionaires Index, which states Trump now is worth $3.1 billion.
"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 report in the Times said.
The report noted the values were derived from a 2021 statement from Trump, a 2023 government ethics filing, market data and mortgage filings.
The properties were valued "as is," meaning development potential was not included.
Mar-a-Lago in Palm Beach, Florida (Video screenshot)
The report cited "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."
He said the company's position is "fantastic" with the most cash and lowest debt ever.
The report quoted real estate agent Liza Pulitzer saying Trump's Mar-a-Lago is worth more than Bloomberg's estimate, and way more than Engoron claimed.
"It could easily fetch $500 million or more," she told the publication.
Trump himself has described James' agenda against him as "election interference."
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