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When Forbes, which tracks who is the richest in the world, updated its list Tuesday, Donald Trump had gone from 275 to 352 among the richest Americans. This is because its hotels, offices and golf facilities have lost a lot of value. Trump owns about 500 such facilities through his company The Trump Organization.
Trump delivered the leadership of the organization to his children in 2017 in connection with his arrival to the presidency.
But the crown pandemic has meant that his empire has lost value from the equivalent of 27 billion Swedish crowns last year to 22 billion crowns this year, Forbes says.
On Tuesday, multiple media outlets revealed that Trump is considering investing his own money to get reelected. During the 2016 presidential election campaign, Trump invested the equivalent of SEK 580 million out of his own pocket. Now Trump says, according to The Hill, that he can imagine spending 880 million SEK on the campaign. This since all opinion polls show that he is behind Joe Biden, of the Democrats. The Real Clear Politics poll shows Biden leading by 49.9 percent versus 42.8 percent for Trump.
Trump’s campaign has invested just a fraction of what the Biden campaign has spent on television advertising. When Biden has invested 315 million, Trump has invested 42 million, instead, Donald Trump has had good access to television through his role as president.
When it comes to the campaign in general, the roles have changed. So far, the Trump campaign has invested SEK 7 billion against Biden’s SEK 3.6 billion. At the same time, Joe Biden is managing to raise huge sums right now. In August alone, various donors donated 3.2 billion. Money to invest in the fall.
And according to the New York Times, some Trump employees have expressed concern that the money will not be enough at the end of the campaign.
In a statement Tuesday Trump tried to explain that his campaign was forced to use funds to address allegations of how he, as president, has handled the crown pandemic. In a post on Twitter, Trump writes:
“Due to the China virus, my campaign, which has raised a lot of money, has been forced to spend to comply with Bluff News, which writes about how we have handled everything.”
Footnote: Forbes’ list is headed, like last year, by Amazon CEO Jeff Bezos, which is worth SEK 1.57 billion.
