‘Forbes’: Trump Net Worth Down $800M to $3.7B In 2016

Over the past 12 months, the Standard & Poor’s 500 Index (^GSPC) has gained 12.4 percent, according to Yahoo Finance, while Republican presidential nominee Donald Trump’s net worth has fallen by 17.8 percent, or about $800 million, over the same period, as reported by Forbes editor Randall Lane via MSNBC.

The new Forbes Donald Trump net worth calculation reduces the compound annual growth rate of the candidate’s assets, which is based on the conservative assumption that he received $40 million from his father in the early 1970s, as previously reported by The Inquisitr, from about 12.2 percent to about 11.5 percent.

The S&P 500 has returned an average of about 10.2 percent annually for the past 100 years, as reported by Money Chimp, demonstrating that the growth of the value of Donald Trump’s assets has only been slightly better that what is enjoyed by average Americans who invest in index funds.

By comparison, Democratic presidential nominee Hillary Clinton’s current net worth, estimated at between $31.3 and $45 million, earned after she started with close to nothing, shows annual asset growth that appears to far outstrip that achieved by Donald Trump.

The Inquisitr had previously calculated that $40 million invested in Warren Buffett’s Berkshire Hathaway Inc. (NYSE: BRK-A, BRK-B) shares in the early 70s would have grown to be worth over $200 billion today.

Despite the fact that Trump has not grown his assets at the same rate as Clinton, Forbes editor Randall Lane stated that Donald Trump is the wealthiest person ever to run for president of the United States.

MSNBC‘s Joe Scarborough cited media reports that Trump may be worth as little as $200 million and the fact that the GOP nominee himself claims that his net worth is over $10 billion.

“Who’s right?” Scarborough asked Lane.

The Forbes editor explained that “neither is,” and he said the assets tracked by the publication indicate that Trump is currently valued at about $3.7 billion, down from $4.5 billion in 2015.

“Trump says he’s worth more than $10 billion. He’s not even worth close to $10 billion,” Lane stated.

Lane explained that Forbes has been tracking Donald Trump’s assets for 35 years since the inception of the Forbes 400.

“There’s no assets that are hiding that we don’t know about,” said the Forbes editor.

A breakdown of Donald Trump’s assets indicated two new additions to his holdings since 2015, as well as a decline in value of 17 out of 28 asset classes owned by the Forbes-certified billionaire.

When asked where Trump’s income comes from, Lane cited the candidate’s properties and licensing deals, but emphasized that Trump was not an “income guy.”

“They’re not going to tell you how rich he is,” Randall Lane stated with regard to Trump’s tax returns.

Lane expressed the opinion that the reason Donald Trump has not released his tax returns is because he’s “trying to hide” the tax rate he pays, speculated by Hillary Clinton and others to potentially be zero.

Donald Trump stated during the Hofstra presidential debate Monday evening that paying zero in taxes would make him “smart.”

Lane stated further that the assets Trump listed in his Federal Election Commission filing match well with the assets that Forbes monitors.

Scarborough asked Lane where Trump gets loans from and about potential connections to “Russian oligarchs.”

“He’s got partners with ties to eastern Europe,” Late stated. “He’s got partnerships with the Chinese.”

Lane explained that while Trump’s financial ties span the globe, and he has some business interests that are “questionable,” many of his ties are not “nefarious.”

Randall Lane stated that Donald Trump himself is continuing to claim that his net worth is over $10 billion. Lane explained a “Trump rule” used at Forbes that whatever figures Trump states with regard to his worth, Forbes editors have learned to assume that the actual value is about one-third of that.

Lane talked about a belief held by Donald Trump that his name is worth “billions” of dollars. However, when considering all of his failed business ventures, from the Trump shuttle to Trump steaks, Lane stated that there is “no way” his actual net worth is over $10 billion.

“If he was that good a businessman, he wouldn’t be leaving that much money on the table.”

When asked if major Western banks will do business with Trump, Lane stated that because his assets are so large compared to his liabilities that banks would “line up” to do business with Donald Trump. The Forbes editor also described Trump having access to several credit lines.

[Featured Image Spencer Platt/Getty Images]