Eric Trump Faces Backlash for Valuing Mar-a-Lago at Over $1 Billion Despite Judge's Ruling
Eric Trump, son of former President Donald Trump, faced widespread criticism for his claim that Mar-a-Lago, the Trump family's Palm Beach, Florida, estate, is worth over $1 billion, RadarOnline.com has learned.
Eric Trump faced widespread criticism for claiming Mar-a-Lago was worth over $1 billion.
This comes after a New York judge, Arthur Engoron, ruled that the ex-president had been overvaluing his property assets for years, deceiving banks, insurers, and others.
According to the Associated Press, Judge Engoron stated that Trump had exaggerated his net worth and overvalued his assets on paperwork used in deals and financing.
This ruling could potentially force the Trump Organization to halt all business operations in New York City. However, the GOP presidential hopeful has expressed his intention to appeal the decision promptly.
Eric Trump took to social media platform X to express his disagreement with the judge's ruling.
Eric took to social media platform X, formerly known as Twitter, to express his disagreement with the judge's ruling.
He claimed that Mar-a-Lago is worth "[well] over a billion dollars" and accused the judge of attempting to destroy his father and force him out of New York.
Critics were quick to mock his statements, highlighting the irony of his claims given the recent legal troubles faced by the Trump Organization.
Judge Arthur Engoron ruled on Tuesday that former President Donald Trump 'deceived banks, insurers, and others.'
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The ruling by Judge Engoron specifically focused on the valuation of Mar-a-Lago. He cited a Palm Beach County Assessor's appraisal from 2011-2021, which valued the property between $18 and $27 million.
Engoron concluded that Trump Senior had inflated the value of Mar-a-Lago by a staggering 2,300%. This ruling sparked a chorus of criticism towards Eric's claim.
Eric Trump is Donald Trump's second oldest son.
Rep. Jared Moskowitz, a Democrat from Florida, countered Eric's statement by suggesting that the Palm Beach County Property appraiser should assess Mar-a-Lago at a billion dollars. Moskowitz's tweet was accompanied by laughing emojis, adding a touch of irony to his response.
Another X user posted, "Zillow literally has Mar-a-Lago listed at 24.2 million without termites, roaches, and classified documents, Eric ... Enjoy visiting your dad in prison."
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Some social media users pointed out that the judge's ruling was based on an appraisal recommendation from the county assessor.
They also noted that Mar-a-Lago's deed requires the estate to remain a club, significantly reducing its resale value compared to other properties in the area.
Author James Surowiecki explained that Mar-a-Lago's value is limited, as it cannot be developed or transformed into a single-family estate, as stated in the deed.
The judge did not personally assign the valuation. He relied on the official appraisal by Florida officials, which ranged from $18 to $27 million.