Trump Loses 92 Places on Forbes’ Ranking of Wealthiest Americans

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President Donald Trump

President Trump’s wealth is estimated at 3.1 billion dollars by Forbes Magazine, falling by 600 million since 2015 — Photo Credit: Gage Skidmore

President Donald Trump has “lost” some $ 600 million since Forbes magazine’s latest edition of the wealthiest Americans.

Following a very expensive presidential campaign, along with a slump in the worth of his luxury properties… President Donald Trump has gotten poorer — or should we less rich. If his fortune, estimated at 3.1 billion, may seem considerable, the former real estate tycoon is far behind the founders of Microsoft, Facebook or Amazon.

According to the annual ranking of the wealthiest Americans of Forbes magazine, published on Tuesday, the president has dropped 92 places, ranking 248th against 156th in 2015.

According to Forbes, the capital of the president of the United States is $ 3.1 billion and has fallen by some 600 million. A more optimistic calculation than that of Bloomberg, which recently quantified the fortune of the ex-reality TV star to $ 2.86 billion. But Donald Trump’s fortune is hard to estimate. The family holding, the Trump Organization, which he handed over to his sons after winning the presidency, is not listed on the stock market and the businessman has always refused to publish his tax returns.

According to the magazine, this drop in capital may be explained by the fall in prices of luxury real estate, to which its fortune is directly related. The value of his properties on 5th Avenue decreased, costing Donald Trump almost 400 million dollars in revenue. Some of his golf courses, including those in Miami, Ireland and Scotland, have also lost value. The president’s unpopularity may have also hurt his business. The president’s name is no longer that glamorous and would even shun customers.

At the top of the Forbes rankings, we find, like last year, the founder of the Microsoft empire, Bill Gates (89 billion dollars), followed by Jeff Bezos, founder of Amazon (83.5 billion). Warren Buffett, American businessman (78 billion) is in third position while Mark Zuckerberg (71 billion), founder of Facebook is ranked fourth. No woman is in the top 10. The first woman in the list is Alice Walton (38.2 billion), daughter of Wal-Mart store founder Sam Walton.

Overall, the wealthiest Americans has continued to expand this year. The average fortune to access the club of the 400 richest Americans is steadily increasing: by two billion dollars this year alone. An increase of 18%.