Former U.S. President Donald Trump’s net worth dropped by about $700 million (from $3 billion to $2.3 billion) while he superintended over the country.

This was revealed by the Bloomberg Billionaires Index.

The Bloomberg report was based on analyses from financial documents and other filings between May 2016 and January 2021 to calculate Mr. Trump’s wealth before and after becoming the president.

His ranking fell 138 spots on the Forbes list of the wealthiest Americans, and during the three years after he announced his presidential run in 2015, Forbes estimated his net worth declined 31 percent.

The impact of the COVID-19 pandemic, his stepping away from his company, as well as two rounds of impeachments, wreaked havoc on his businesses — evident in his office buildings, branded hotels, and resorts losing revenue and falling in value.

A major source of wealth for Mr. Trump comes from commercial real estate, which makes up 75 percent of his income. Trump’s commercial real estate business valuation is down over 25 from when he started his presidency.

The work-from-home phase stands to hurt him financially as companies are turning to smaller office spaces.

The Mar-a-Lago Club that still operates as a members club and saw a slight increase in revenue since 2015, but it is uncertain whether guests will continue to see the value in their memberships post-presidency

His fleet of planes and golf courses have also seen drops in their value, mostly due to selling off most of his fleet while he owns, manages, or licenses his name to about a dozen hotels and resorts, plus 19 golf courses.

After the attack on Capitol Hill in January, the U.S. Professional Golfers’ Association ended an agreement to host its 2022 championship tournament at Mr. Trump’s New Jersey golf course, saying it will hurt the group’s brand. Other companies also publicly cut ties with Mr. Trump since his second impeachment.