Forbes list of 400 richest Americans is out – and where Trump shows up on the list is turning heads

President Donald Trump took a tumble on Forbes’ list of the richest Americans but the landing was still soft.

He fell 92 spots from his 2016 rank of 156 to 248 this year, in part, because of what he spent from his own fortune to run for the presidency.

Image: Screenshot

The president, and real estate mogul, spent $66 million from his coffers to wage his fight to become the 45th President of the United States, Forbes reported.

His rank was also affected by a $25 million settlement he made in a lawsuit involving Trump University.

Getty / Joel Forrest

But the main cause of his financial descent was in the devaluing of his real estate holdings in New York which caused his net worth to take a $400 million hit, according to Forbes.

Some of his golf properties, including those in Miami and overseas, also fell in value as people with opposing political opinions began to avoid them.

As sexual assault claims rock Hollywood, Olympic gymnast comes forward with disturbing revelation

Still, the president is worth an estimated $3.1 billion, according to Forbes.

That includes an increase in the value of some of his other properties, which include a Las Vegas hotel-condo that he co-owns with fellow real estate mogul Phil Ruffin, who came in at 315 on Forbes 400

Image: Screenshot

Wake up right! Receive our free morning news blast HERE

Powered by Topple

Carmine Sabia

Comments

Latest Articles