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The Forbes list of 400 richest Americans shows that the billionaire-in-chief's fortune fell by $600 million to $3.1 billion.
As a result he dropped to #248 on the list, after coming in at #156 last year.
The magazine attributed his decline in wealth to "a tough New York real estate market, particularly for retail locations; a costly lawsuit and an expensive presidential campaign." Trump reached a $25 million settlement in a suit that claims that his Trump University real estate seminars defrauded students.
But overall the richest Americans are richer than they were a year ago. In fact it now takes a record $2 billion to make the cut of the richest 400 Americans. The magazine estimates there are 169 billionaires who were too "poor" to make the cut, including Facebook (FB, Tech30) Chief Operating Officer Sheryl Sandberg.
Bill Gates tops the list for the 24th straight year with a net worth estimated at $89 billion. Amazon (AMZN, Tech30) founder and CEO Jeff Bezos, worth $81.5 billion, held on to the No. 2 spot he first claimed in 2016. Warren Buffett, remains No. 3 with a fortune worth $78 billion.
UCJ, UNILORIN.
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