On June 16, real estate mogul, businessman and television personality Donald Trump announced he was running for president of the United States in the 2016 election. Two months later, he has positioned himself as the front-runner among the Republican presidential candidates..
Along the way, Trump has made a series of controversial statements that his detractors say have disparaged women and immigrants. Surprisingly, his statements have seemed to endear him more than they’ve hurt him among likely primary voters. His business contacts and corporate partners, however, are not as understanding.
Here’s a look at how Donald Trump’s offensive comments during his presidential run have hurt his net worth.
What Exactly Is Donald Trump’s Net Worth?
Donald Trump is, by any reasonable standard, a very rich man. But, he might not be as rich as he claims — or has ever claimed.
Trump once told The Washington Post in 2013 that his net worth is “probably over $10 billion.” Presidential candidates are required to release financial disclosure statements, and Trump declared a net worth of roughly $9 billion on his disclosure, which was released publicly on July 22. But, Trump’s campaign released a statement prior to the disclosure’s public release that said the form doesn’t quite capture Trump’s full net worth, which supposedly “exceeds $10 million.”
These claims, however, are probably inflated by more than 100 percent. According to Forbes, which has closely tracked Trump’s net worth since 1982, Trump is worth between $4 billion and $4.1 billion. Bloomberg did its own analysis based on Trump’s financial disclosure and found his wealth is closer to $2.9 billion.
The overwhelming majority of these discrepancies comes from disagreements about the value of Trump’s brand and his golf courses, which Forbes says he exaggerates.
Donald Trump’s Controversial Comments Destroy His Business Deals
Donald Trump’s politically charged statements during his presidential campaign earned him a reputation of a fearless truth-teller among the Republican base — but that bump in the polls came at an enormous cost to his business deals. Shortly after making controversial remarks about Mexican immigrants, Trump received backlash from NBC Universal, Univision, Macy’s, NASCAR, Serta, ESPN, PGA, the FAA and several other brands that quickly cut ties with Trump.
It is estimated that Trump has already lost $50 million, according to The Wrap. Those losses include $3.2 million from the cancelation of his menswear line, which Macy’s pulled shortly after his now-famous gaffe about Mexican immigrants. The loss of “Celebrity Apprentice” will cost Trump roughly $32.5 million a year, which was his estimated annual salary as a reality TV star before NBC severed its relationship with Trump.
When NBCUniversal pulled out of Trump’s pageants — which include Miss Universe, Miss USA and Miss Teen USA — the pageants no longer had a network home, threatening the franchise’s nearly $15 million value. Reelz agreed to pick up the Miss USA pageant this year after NBC pulled out, which turned out to be a blessing — for Reelz, not Trump. Variety reports the pageant drew just 925,000 viewers for its first airing with around 1.27 million total. Before the airing, Reelz CEO Stan Hubbard reportedly told TMZ, “Trump is not going to profit from what we’re paying. What we’ve agreed to pay doesn’t even dent the cost of production.”
But those losses might be only the beginning for Trump. Leaders in the Hispanic community are reportedly orchestrating boycotts. There are also social media pages and petitions floating around, including one petition on Change.org that calls for Amazon to remove all Donald Trump products. At the time of writing, this petition had more than 8,000 signatures.
Also, it’s unclear how much money Trump could potentially lose from his severed partnerships with the other brands previously mentioned, including NASCAR, ESPN, etc.
Trump’s Contracts With New York City in Jeopardy
On July 20, New York City Mayor Bill de Blasio announced during a press conference that the city would not sign any future deals with Donald Trump in response to Trump’s controversial remarks about Mexican immigrants. “Trump’s comments do not represent the values of inclusion and openness that define us as New Yorkers,” said the mayor in a statement released on July 1.
Trump has a long and storied history of deals and contracts with the city, including landmarks and high-profile attractions, like the carousel and ice-skating rinks in Central Park and the Ferry Point golf course in the Bronx. But according to CNN Money, New York City has been reviewing its current contracts with Trump to see if any of them can be broken — including the golf course, two rinks and Central Park carousel, all of which generate a good chunk of revenue for Trump.
The New York City municipal ice skating rink, for example, reportedly brought in $8.6 million for Trump, according to his disclosure. And the carousel generated $588,000 for the presidential hopeful. And Golf Digest reports that Trump’s golf course in the Bronx, Ferry Point, is valued between $5 million and $25 million.
Will Donald Trump’s Brand Ultimately Suffer?
Donald Trump’s net worth and business deals have no doubt taken a hit. While some experts expect his losses to mount, others believe the diversity and sheer size of the Trump empire will protect the presidential candidate from true financial disaster. Some experts even predict that Trump’s fame and natural charisma will earn him a range of offers for other television shows on other networks after the elections, which could possibly help boost his net worth.
Trump has a vast network of hotel and real-estate holdings not just in New York but across the world. The Trump Hotel Collection includes multiple hotels with properties in Las Vegas, Chicago, Toronto, Miami, Panama and more. And, Trump operates golf courses in Florida, Ireland and Scotland — just to name a few. As distasteful as some of Trump’s comments have been to many people, they might not have a huge long-term impact on his overall brand.
As one expert told Newsmax, “There are plenty of people who do not like the politics of the Marriott family, but that clearly has had little impact on that chain.”
From GoBankingRates.com: Why Donald Trump’s Net Worth Might be Down More Than $50 Million Since Running for President