Trump's net worth declined for the second year in a row, Bloomberg reports

William Cummings | USA TODAY

Show Caption Hide Caption Trump's net worth drops to $2.8 billion, lowest since campaign According to a report from Bloomberg, Trump’s overall net worth slipped a bit to $2.8 billion. Veuer's Nick Cardona has that story.

President Trump's net worth fell $100 million this year as revenue from Trump Tower and his golf courses slipped, according to an analysis by Bloomberg.

But don't feel too bad. The president is far from a pauper: The new estimate compiled by the Bloomberg Billionaires Index puts Trump's worth at $2.8 billion.

It is the lowest for Trump since Bloomberg began tracking his wealth in 2015, the report said. The value of Trump's holdings was estimated by looking at data from lenders, property records, annual reports and the financial disclosure the president released on May 16.

According to Bloomberg, the biggest blow to Trump assets came from two neighboring Manhattan buildings: Trump Tower and 6 E. 57th St. The Trump Organization's golf course declined in value by $70 million.

But the losses were largely balanced out by increased revenue from the Trump International Hotel in Washington, which pulled in $40 million in its first year. Office towers in New York and San Francisco that Trump owns in partnership with Vornado Realty Trust also grew in value.

More: Reporter says Donald Trump used alter ego 'John Barron' to get onto Forbes 400 list

More: Jeff Bezos unseats Bill Gates on Forbes 2018 richest billionaires list

More: President Trump drops in Forbes 400 list of richest Americans

Trump Organization spokeswoman Amanda Miller disagreed with Bloomberg's valuation. "The location of a property affects the rents it can achieve," Miller told the publication in an email.

Miller said Bloomberg’s methodology reduces "the value of our prime New York real estate assets."

At $2.8 billion, Trump doesn't make Bloomberg's list of the world's 500 richest people. But in the past, Trump has insisted he is worth more than estimates published by Bloomberg and Forbes.

When Trump announced he was running for president in 2015 he claimed he was worth $8.7 billion, Bloomberg reported. When Bloomberg put the figure at $2.9 billion, Trump dismissed it as a "stupid report" and went on to claim he was worth more than $10 billion.

More: Trump discloses his reimbursement to lawyer for settlement with porn star Stormy Daniels

More: Trump's company earned $40M from Washington hotel in 2017, disclosure shows