Trump's Fortune plummets $600 Million to $3.1 Billion — Forbes List

Ann Santiago
October 18, 2017

Forbes said those on its 36th annual list of the 400 wealthiest Americans have a record-breaking, combined total net worth of $2.7 trillion, up from $2.4 trillion in 2016. The average net worth of a Forbes 400 member hit $6.7 billion, also a record high, up from $6 billion a year ago.

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

As a candidate, Trump said his net worth was more than $10bn, but Forbes pegged that figure at $4.5bn in September 2015.

Donald Trump's value has been slashed, resulting in the unpopular U.S. president dropping 100 spots down the annual list of the richest Americans according to Forbes. The average net worth of a Forbes 400 member hit $6.7 billion, up from $6 billion a year ago. One fellow billionaire Trump tapped for his presidential cabinet was among the less fortunate.

The Forbes "400 richest people in America" list shows a handful of local business owners doing pretty well for themselves.

Forbes attributed Trump's decline to a weakening NY retail and office real estate market, and new information about his assets.

Trump has tweeted about the Forbes 400 list before, including once in 2014 when he retweeted and commented on a person's tweet that claimed that Forbes underestimates Trump's actual net worth.

According to Forbes, half of Mr. Trump's wealth comes from New York City real estate. The estimated value of the Las Vegas hotel-condo tower he owns with Forbes 400 member Phil Ruffin rose in value, the magazine reported.

But the real estate mogul's wealth has always been a subject of debate among journalists and financial experts who have accused him of consistently inflating his net worth without evidence.

Who topped the Forbes list?

Microsoft originator Bill Gates positioned No. 1 with a total assets of $89 billion, and Amazon CEO Jeff Bezos positioned No. 2 with $81.5 billion.

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