US President Donald Trump lost 1 billion US dollars during the month of fighting the coronavirus, Report says, citing Forbes.
According to the publication, the net asset value of the American leader was 3.1 billion US dollars a month ago, while now it fell to 2.1 billion.
To estimate how coronavirus affected the president's fortune, we looked at changes in the price of stocks similar to each segment of his business. Commercial real estate was down, with shares of several companies, including Boston Properties and Vornado Realty Trust, plunging an average of 37% from March 1, 2020, to March 18, 2020, the date we calculated fortunes for billionaires' list. Similar decreases dragged down the value of hospitality companies, apartment owners, and golf businesses.
Notably, on December 31, 2019, Chinese authorities announced an outbreak of pneumonia in the city of Wuhan. The causative agent of the disease is a new type of coronavirus, which has the official name COVID-2019.
The World Health Organization (WHO) declared a pandemic of a new type of coronavirus in the world.