Advertisement
UK markets closed

  • FTSE 100

    7,895.85
    +18.80 (+0.24%)
     

  • FTSE 250

    19,391.30
    -59.37 (-0.31%)
     

  • AIM

    745.67
    +0.38 (+0.05%)
     

  • GBP/EUR

    1.1607
    -0.0076 (-0.65%)
     

  • GBP/USD

    1.2370
    -0.0068 (-0.55%)
     

  • Bitcoin GBP

    51,477.04
    -911.69 (-1.74%)
     

  • CMC Crypto 200

    1,371.97
    +59.34 (+4.52%)
     

  • S&P 500

    4,967.23
    -43.89 (-0.88%)
     

  • DOW

    37,986.40
    +211.02 (+0.56%)
     

  • CRUDE OIL

    83.24
    +0.51 (+0.62%)
     

  • GOLD FUTURES

    2,406.70
    +8.70 (+0.36%)
     

  • NIKKEI 225

    37,068.35
    -1,011.35 (-2.66%)
     

  • HANG SENG

    16,224.14
    -161.73 (-0.99%)
     

  • DAX

    17,737.36
    -100.04 (-0.56%)
     

  • CAC 40

    8,022.41
    -0.85 (-0.01%)
     
Behind the brand:

'Boutique hotel at sea': Virgin Voyages CEO hails Branson's 'biggest endeavour'

On board entrepreneur's latest venture

Donald Trump's net worth 'plummets by $800m'

(c) Sky News 2016

Donald Trump’s net worth has fallen by $800m (£614m) in less than a year, it has been reported.

The Republican presidential candidate is now worth $3.7bn (£2.84bn) after his hotel management and licensing business saw its value fall by $229m (£175.8m), according to Forbes.

The tycoon's property portfolio also reportedly plummeted in value due to New York's weakened real estate market.

The Trump Tower in New York City is estimated to be worth $159m (£122m) less than its 2015 valuation - a fall attributed to a 20% drop in the building's net operating income.

Forbes reports that the biggest drops in value across Mr Trump's property portfolio include:

ADVERTISEMENT

:: Trump International Hotel, Washington DC -$97m (-£74.4m)

:: Golf courses across the US -$72m (-£55.2m)

:: 1290 Avenue of Americas, New York City -$62m (-£47.6m)

:: Niketown, New York City -$52m (-£39.9m)

:: Mar-A-Lago, Palm Beach, Florida -$50m (-£38.3m)

The analysis of Mr Trump's finances reveals he gave $7m (£5.3m) to his campaign and loaned it an additional $48m (£36.8m).

The figures have emerged as he faces increasing calls to publish his tax returns.

The Republican presidential candidate has said he has not released the data because he is being audited by the Internal Revenue Service.

But the IRS says being under audit does not mean someone cannot release their returns.

During Mr Trump's first presidential debate on Monday, Hillary Clinton claimed "there is something he is hiding".

She (Munich: SOQ.MU - news) said: "Maybe he doesn't want the American people, all of you watching tonight, to know that he's paid nothing in federal taxes."

Mrs Clinton added that previous records "showed he didn't pay any federal income tax".

Mr Trump replied: "That makes me smart."

After the debate the Republican candidate appeared to backtrack, telling reporters: "Of course I pay federal taxes."

While campaigning for Mrs Clinton at Drexel University in Philadelphia, Vice President Joe Biden said the comment "angers me".

He said: "(Mr Trump) acknowledged that he didn't pay taxes ... because he's smart.

"Tell that to your mothers and fathers who are breaking their neck to send you here. They're paying taxes."