January 22 According to CNN on the 21st, the revenue of the Trump family group fell by nearly 40% in 2020, and the former president of the United States is facing great financial pressure due to the impact of the COVID-19 epidemic.
To make matters worse, partners and banks abandoned Trump after the riots in the United States Congress on January 6, 2021.
Trump’s last financial report released when he left the White House on January 20, showed that several of his hotels and resorts saw significant revenue declines in 2020 and the first 20 days of 2021.
For example, sales at Trump International Hotel in Washington, D.C., fell 63 percent in 2020 compared to 2019. U.S. media quoted federal officials as saying that Trump’s revenue in 2020 was $278 million to $313 million, down from $445 million to $483 million (about 2.874 million to 31.1 billion) in 2019. equivalent to a nearly 40% decline in revenue.
After the riots in the United States Congress on January 6, in addition to the permanent ban on Trump’s account on social media Twitter and Facebook, the business community also responded strongly.
Online payment platform Stripe no longer handles credit card payments for Trump campaign; e-commerce website Shopify stops operating online stores of Trump Group and campaign teams; PGA also deprives Trump of hosting golf tournaments Power.
In addition, New York City is seeking to end its commercial cooperation with the Trump Group, which means that Trump will not be able to continue to operate several entertainment venues, including the Central Park Volman Rink, which brought $4.5 million in revenue in 2020.
CNN also said that after the congressional riots, several banks no longer cooperated with the Trump Group. Earlier this month, a source said Deutsche Bank had decided not to do business with Trump.
The largest bank in Germany has provided loans for Trump’s hotels and real estate. In the next few years, the Trump Group will owe the bank at least about $340 million.
It is reported that the two private bank advisers in the bank who work most closely with Trump resigned at the end of last month. In addition to Deutsche Bank, Bank of America Signature Bank also said that it had begun to close Trump’s personal accounts after the attack on the Capitol.