Donald Trump may have fired the first shots in a global trade war—but it’s already backfiring. Within just a week of announcing sweeping tariffs, Trump’s net worth has reportedly dropped by a staggering $500 million, bringing his fortune down from $4.7 billion to $4.2 billion, according to Forbes.
The sharpest blow? His prized possession—the Trump Media and Technology Group. Its value plunged 8%, marking its lowest price since October, and slashing $170 million off Trump’s personal stake.
But that’s just the beginning.
Commercial real estate, another pillar of Trump’s empire, saw a $90 million hit. Major partners like Vornado Realty Trust and SL Green faced double-digit stock drops after the tariffs were announced. Trump Tower, 40 Wall Street, and his San Francisco and New York properties together dipped to $570 million from $660 million.
Then come the golf courses and resorts. Rising costs, fewer weddings, and lower memberships could lead to a $70 million loss. Trump National Doral and hotel-condos in Chicago and Vegas are also bleeding value—with another $65 million shaved off.
Even the luxury appeal of trophy assets like Mar-a-Lago can’t hold up in turbulent times, sliding by an estimated $32 million.
Meanwhile, Trump’s foray into crypto isn’t looking better. Ether, touted by Eric Trump, has dropped 45%. If Trump stored some of his $350 million in post-tax crypto windfalls, he may have lost another $32 million.
All told, while Trump’s businesses don’t rely heavily on imports, the global investor uncertainty caused by his own policies is shaking the very foundation of his wealth. Tariffs might be meant to protect the American economy—but in Trump’s case, they’re proving to be an expensive gamble.
