Forbes recently revealed that President Donald Trump’s fortune fell $400 million to $3.1 billion on the latest Forbes World’s Billionaires list. In a development that is certain to incense Trump, CBS’s Stephen Colbert attributed the drop to a very timely cause.
Colbert’s tweet is in reference to Trump’s notorious $130,000 payout in “hush money” to porn star Stormy Daniels for her silence in the affair. The two allegedly had a sexual relationship in 2006, shortly following Trump’s marriage to Melania, his current wife, and the birth of their son, Barron.
Forbes attributed the financial hit to a multitude of factors. The rise of e-commerce has pushed down the value of Trump properties, which are located in high shopping areas. Specifically, Nike vacating Trump’s 65,000-square foot property at 6 East 57thStreet was especially ruinous.
Politics has also had an effect on his golf businesses. In states that did not vote for Trump, revenues have dropped approximately four percent, as well as in Scotland, where he owns two courses.
Guess he paid out more pornstar hush money than we thought. https://t.co/cuRWng0adK
— Stephen Colbert (@StephenAtHome) March 8, 2018
“Guess he paid out more pornstar hush money than we thought,” Colbert wrote.
Per Forbes, “The value of Trump’s hotel licensing and management company dropped an estimated $50 million in the last year, as the power of the Trump brand seems to be fading in markets like Toronto and New York, where investors have removed the president’s name from hotels. On Monday, workers reportedly pried Trump’s name off of a third tower, in Panama.”