Donald Trump just couldn’t resist a low-stakes flex in a high-attention zip code.

On Monday, the president waded into Tuesday’s special election in Florida State House District 87 with a Truth Social post: “JON MAPLES HAS MY COMPLETE AND TOTAL ENDORSEMENT!” Maples, a Republican financial advisor, ended up losing Tuesday’s race by two points to Democrat Emily Gregory, a small business owner. Which means Gregory now represents two constituencies that really matter in modern Republican politics: the voters in her district—including Donald Trump himself—and the private club where the sitting president resides and often hosts power, money and, increasingly, government.

For the first time this March, when Forbes recalculated Trump’s net worth for our World’s Billionaires List, we estimated Mar-a-Lago’s value at over half a billion dollars. It now stands at $564 million, by a wide margin the single most valuable property in his portfolio and up over 50% from a year ago.

Much of that can be chalked up to a sort of election win premium that has made the club, perhaps, the most efficiently networked driveway in America. Forbes estimated Mar-a-Lago’s value at about $340 million in September 2024 for the Forbes 400 list, the last valuation round before Trump returned to the White House. Not long after, Palm Beach real estate experts were already granting it higher valuations. “My head tells........

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