President Trump is Still Rich, But Drops in Forbes Latest List

Katrina Barker
October 20, 2017

The magazine's venerable list of the country's 400 richest people ranks the president at #248, dropping an astonishing 92 spots from past year.

"His net worth now stands at $3.1 billion".

Trump, ranked No. 156 in 2016, is now tied with 15 others -- including casino magnate Steve Wynn and Snapchat founder Evan Spiegel - for No. 248.

Among those whose ranking declined was President Donald Trump as the value of some of his Manhattan real estate holdings has declined recently.

Forbes, which has tracked Trump since the list's debut in 1982, said the president's faltering net worth is due to weakening in the New York City real estate market.

Bill Gates topped the list, followed by Jeff Bezos, Warren Buffett and Mark Zuckerberg. By Forbes' estimates, Trump's wealth has fallen 31% in two years.

In answering another Twitter user who asked why Forbes had him listed as being worth $3 billion in 2013, Trump wrote: "They know nothing about me or my numbers".

"The minimum net worth to make the Forbes list of 400 wealthiest Americans is now a record $2 billion", said Luisa Kroll and Kerry Dolan, assistant managing editors of wealth at Forbes Media.

According to Forbes, the White House did not immediately respond to a request for comment on Trump's ranking.

Other reports by AllAboutTopnews

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