FX.co ★ Trump’s business empire in dire straits amid his political failure

It appears Donald Trump has failed on both fronts: business and political. While executing presidential duties, Trump completely neglected his business empire. The consequences are devastating. Throughout his tenure, the Trump Organization has incurred huge losses.

Being at the helm of a rich and powerful country, it seems obvious that one must be rolling into money. Yet, as some market players joke, Trump’s only accomplishment in office was his growing number of Twitter account followers and skillful use of social media platforms as his megaphone.

Overall, in 2020, the Trump Organization's revenue came in at $278 million, down by almost 38% in comparison with 2019. According to the Bloomberg Billionaires Index, Trump's personal wealth totaled $2.45 billion, which was $500 million less than when he took office. Additionally, the commercial real estate of the former US president is burdened with more than a billion dollars in debt.

To make things a lot worse, major banks are reportedly refusing to do business with Trump. Such giants as Deutsche Bank and Signature Bank were the first to announce the termination of cooperation. The reason for these drastic measures was the events of January 6 when protesters stormed the Capitol in Washington. Trump has disgraced himself profoundly in the public eyes.