President Donald Trump Dropped 92 Spots On The ‘Forbes 400’ List Of The Richest Americans For 2017
Donald Trump may be President of the United States, but since running for and eventually taking office he reportedly hasn’t been making his bank account great again.
At least that’s what the annual “Forbes 400” list of richest Americans states this year.
According to Forbes, they now estimate Trump’s net worth at $3.1 billion, down $600 million from a year ago.
The biggest hit was to Trump’s real estate portfolio, which is weighted heavily toward New York City. Values of several Manhattan properties, particularly those on or near Fifth Avenue, have dropped, shaving nearly $400 million off his fortune. Some of his golf properties, including ones in Miami, Ireland and Scotland, have also declined in value, as some would-be guests stayed away, apparently offended by the president’s politics and bombast. Trump’s cash pile is down an estimated $100 million since last year, after he spent $66 million on his campaign and $25 million settling a lawsuit over Trump University. As always, we refined our estimates based on new information uncovered during months of reporting.
These losses to Trump’s portfolio have dropped him 92 spots on the annual list from 156th place in 2016 to 248th place this year, tied with Snapchat founder Evan Spiegel and 14 others.
On the plus side of the ledger, Trump’s hotel-condo tower in Las Vegas and his minority stake in a downtown San Francisco office building both rose in value, so he’s got that going for him, which is nice.