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Forbes magazine calculates Trump's fortune at USD3.7 billion
The fortune of Republican presidential nominee and real estate magnate Donald Trump currently is estimated at some USD3.7 billion, while his debts exceed $1.13 billion, Forbes magazine said on Wednesday.
 
According to the magazine, Trump, who to date has refused to make public his tax returns claiming that he cannot do so because he is under audit by the Internal Revenue Service, has seen his fortune decline by some $800 million over the past year, EFE news reported.
 
"Forbes has been scouring Trump's fortune for 34 years. Sometimes he's up, sometimes he down -- and for much of the 1990s he was out of the three-comma club," with a net worth of less than $1 billion, the magazine said.
 
Forbes said that of the 28 assets or asset classes the mogul owns, most of them in real estate, 18 lost value over the past 12 months due, among other things, to the "softening" of the New York real estate market.
 
The jewel in the crown of his empire, Trump Tower on Manhattan's 5th Avenue, is valued at some $471 million, some $159 million less than a year ago, while the debt on the iconic property rose to $100 million.
 
Forbes also provided estimated valuations of other properties owned by Trump such as the 40 Wall Street building, valued at $501 million with a debt of $156 million, and his private Mar-a-Lago club in Florida, valued at $150 million, some $50 million less than a year ago, EEF news added.
 
The magazine also said that seven of Trump's investments have increased in value over the past year, including San Francisco's second-tallest building -- 555 California Street -- in which he owns a 30% share, valued at $317 million, up $32 million from last year.
 
In addition, the magazine said that the only real estate deal that the billionaire closed this past year was to buy an industrial park in Charleston, South Carolina, valued at some $3.5 million.
 
Forbes also said that Trump has given some $7 million of his money to his election campaign and loaned it another $48 million, although the magazine expressed certainty that he would not recover those expenditures.
 
And Trump's 10 golf courses in six US states plus the District of Columbia were valued at $225 million, including estimated debt of $18.5 million.
 
Meanwhile, the mogul has some $230 million in cash, $97 million less than a year ago, and also owns three helicopters and two private jets valued at some $35 million in total, the magazine said.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Set up mechanism to address taxpayers' grievances, Modi tells officials
Taking cognizance of the grievances expressed by taxpayers, Prime Minister Narendra Modi on Wednesday asked tax officials to set up a mechanism to deal with their issues and ensure a speedy resolution.
 
Modi on Wednesday chaired his fifteenth interaction through PRAGATI - the ICT-based, multi-modal platform for Pro-Active Governance and Timely Implementation. 
 
"After reviewing the progress towards implementation of the Pradhan Mantri Khanij Kshetra Kalyan Yojana, he urged the concerned officials to work towards a uniform set of processes and procedures for utilization of the funds, so as to benefit the backward communities, including tribals, in the mineral rich districts," said a PMO statement.
 
"The review of the progress towards implementation of the Pradhan Mantri Khanij Kshetra Kalyan Yojana showed that an amount of Rs. 3214 crore has been collected so far by the 12 mineral-rich states, and a much larger amount is expected to be collected in due course," it said.
 
Also reviewing the progress towards handling and resolution of grievances related to income tax administration, he expressed concern over the large number of grievances being expressed by taxpayers. 
 
"A mechanism should be set up to deal with them," he said, urging the officials concerned to use technology to the maximum extent possible, to ensure speedy resolution.
 
Modi also reviewed the progress of infrastructure projects in the road, railway and power sectors, spread over several states including Rajasthan, Assam, Meghalaya, Sikkim, West Bengal, Maharashtra, Odisha, Jharkhand, Bihar, Uttar Pradesh, Uttarakhand, and Jammu and Kashmir. 
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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COMMENTS

SRINIVAS SHENOY

8 months ago

What do you think?... Write your comments. I feel that the Modi Government is moving in the right direction. I feel infrastructure which so far earlier was neglected, needs to be given priority for the rapid development of our economy.

Remembering Those Who Cannot Remember Is Our Social Duty
Dementia, and one of its deadlier forms, Alzheimer’s, is a disease that affects the elderly. It is a degenerative disease that leads to a gradual loss of memory, impaired judgement, loss of communication skills or speech, disorientation, loss of motor ability and balance. It is not only hard on the sufferer, but also extremely stressful for caregivers who witness the slow degeneration of a loved one. With an ageing population, dementia and Alzheimer’s are set to increase rapidly in India. The bad news is that there is, as yet, low awareness about this dreaded disease with the result that, often, it goes undiagnosed.
 
Shockingly, about 2,500 new cases are reported in India every day and these are only the registered cases. The number of diagnosed cases may be as low as 10% of the total sufferers, according to some estimates. The Dementia India Report 2010 estimated that around 4.1 million Indians would be afflicted by dementia by 2015 and the financial burden of their lifelong care would   would be approximately Rs16,300 crore. Worldwide, it is estimated that a massive 4.8 million people are living with dementia and the number of people with the disease has a risk of doubling every 20 years. 
 
Most types of dementia are irreversible; various symptomatic therapies help in managing the disease, if diagnosed early enough. Only in rare cases, it can be reversed, if detected early. 
 
“With medical research leading to a larger percentage of population of senior citizens, it is imperative that we must work hand-in-hand with all stakeholders concerned to draw up a viable policy that can be actually implemented effectively,” points out Vidya Shenoy, honorary  secretary, ARDSI (Alzheimer’s & Related Disorders Society of India), Mumbai Chapter.
 
Founded by Dr Jacob Roy K, honorary vice president of ADI (Alzheimer’s Disease International) in 1992, ARDSI has 20 chapters throughout the country and has a research affiliation with ADI. Meera Pattabiraman, chairperson ARDSI, represents India on the World Dementia Council. 
 
“We, at the Mumbai Chapter, are very proactive in our operations. We hold many awareness talks for corporates, housing complexes and social groups, and sensitise students of schools and colleges. We also organise ‘Memory Walks’, screening sessions at health camps, educational and training modules for caregivers and volunteers, hold support/ peer group sessions and social activities for those affected by dementia. Even sky is not the limit for us ‘to be there’ for these seniors who feel lost and cannot even recognise their own family members: children, grandchildren or even spouse,” says Vidya. 
 
ARDSI (Mumbai Chapter) aspires to reach out to many, many more by spreading awareness and dissemination of information on prevention and management with help of alternative therapies. Most important, on its high-priority wish list, is the need to establish day-care centres, whereby families know that their cared one with dementia is being looked after well. After all, they, too, need some respite from the onus of looking after them continuously. Care-giving, whether by a family member or hired help, takes its toll on them too. Furthermore, Alzheimer’s is a debilitating disease, aetiology of which is yet unknown. This makes it absolutely necessary to have 24-hour homes for palliative care. In later stages, persons affected by dementia cannot be managed at home.
 
Eager to add numbers and funds to her purpose, Vidya has clear ideas about how you can help its effort. “To begin with, may we ask you to be our ‘Dementia Friend’ and actively contribute, in your own way—be it as an individual or as a corporate—to the cause of Alzheimer’s,” she says.  Donations to ARDSI (Mumbai Chapter) enjoy Section 80-G tax benefits under the Income Tax Act.
 
World Alzheimer’s Day was observed on 21st September. This is just the time to gain expertise and spread awareness for this social cause. Life membership of ARDSI is also available.
 
ARDSI - Mumbai Chapter
BMC School Building, Room Number 27 (2nd Floor),
JJ Hospital Complex, Byculla, 
Mumbai - 400 008, 
Maharashtra 
Telephone +91 222 374 2479

 

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