When he first took office, former President Donald Trump, who prides himself on his business acumen, declined to divest his assets. He would have been $1.6 billion richer if he had sold out in 2017 and re-invested in the market.
After years of leftist media outlets attempting to portray Trump as an evil, greedy threat, the exact opposite has been exposed recently.
Forbes announced earlier this week that Trump lost $1.1 billion since his presidency, dropping him nearly 300 places from his original position in the billionaire rankings.
This is a significant blow to the establishment media’s portrayal of Trump’s alter ego as the devil himself.
“From the time he entered the White House in January 2017 to his departure a few months ago, Donald Trump’s fortune fell by nearly a third, from $3.5 billion to $2.4 billion,” Forbes wrote. “The S&P 500, meanwhile, increased 70%.”
Trump slowed down his presidency for years by declining to divest his portfolio when he took office while also losing out on a chance to profit from a business boom he helped create.
Forbes reporter Dan Alexander listed several Trump assets, claiming that if the former president had sold them from the start, he would have finished his presidency $1.6 billion wealthier than he is now, and then deposited the money into a conflict-free fund monitoring the S&P 500.
Alexander chastised Trump in the piece for his inability to concentrate on his portfolio. “If he had just listened to the ethics experts, his presidency would have been cleaner and his fortune would now be much bigger,” the reporter wrote in a tweet on Tuesday, April 6.
1/10 Four years ago we knew Trump’s refusal to divest would have political consequences. Now we know it had big financial consequences as well.
In fact, the decision to retain his assets cost Trump an estimated $1.6 billion. Let’s break down the math. https://t.co/hGfzgkcPSX
— Dan Alexander (@DanAlexander21) April 6, 2021
Trump declined to take a paycheck during his entire term, instead contributing his $400,000 annual salary to various government agencies.
Although it is clear that Trump sacrificed opportunities to boost his portfolio for the nation’s good, former President Barack Obama cannot be said to have done so. In reality, Obama made money from his position.
The Obamas are now worth more than 30 times their net worth than when they entered the White House, according to a 2018 Business Insider report. Obama’s current net worth is estimated at $40 million.
Obama is said to have earned $20 million between 2005 and the end of his presidency from his presidential salary, book sales, and other business ventures.
According to a 2017 Forbes report, Obama earned nearly $7 million from “Dreams from My Father” and almost $9 million from “The Audacity of Hope” and “Of Thee I Sing: A Letter to My Daughters,” totaling about $15.6 million in Washington as an author.
Simply put, Obama was more concerned with writing books for profit than with the country’s problems. And when he did make policy, it was either redundant, such as his attempts to “close the wage gap,” or politically damaging, such as his support for the Supreme Court’s 2015 decision on same-sex marriage.
Trump, meanwhile, spent his time in office trying to secure the southern border, protect life, boost the economy, and lay the groundwork for millions of Americans to be vaccinated.