Donald Trump is richer — and far deeper in debt — than he was a year ago, according to a new report.
The presumptive Republican presidential nominee’s net worth is now $3 billion, according to Bloomberg’s latest Billionaire Index, which was updated on Tuesday. That’s little changed from Bloomberg’s $2.9 billion estimate a year ago.
Meanwhile, Trump’s debt level nearly doubled over the past year to $630 million. Trump had $350 million in debt last year.
Much of Trump’s increased debt was due to an additional $170 million he borrowed to renovate an old post office building in Washington, converting it into a luxury hotel. The project, just blocks from the White House, was started in 2013, and is due to open this September.
But Trump’s debt growth was offset by the increased value of some of his properties, according to Bloomberg. His golf courses and resorts grew significantly in value. For example, Bloomberg said the Trump National Doral in Florida is now worth $710 million, up nearly 90% from the previous estimate. Trump Tower in New York is worth $600 million, 22% more than it was a year ago.
Trump’s presidential campaign had relatively little impact on his net worth. Trump has loaned his campaign $46.1 million through the end of May, a loan he said he will forgive.
Trump insists his net worth is significantly higher than independent estimates. He says he’s worth more than $10 billion. But much of that discrepancy is due to Trump’s own (yuuuge) estimates for the value of the his brand.
Other estimates put Trump’s net worth much closer to Bloomberg’s reading. Forbes says his net worth is $4.5 billion, while Fortune puts his net worth at $3.9 billion