Trump drops in Forbes’ richest Americans list
President Donald Trump won the White House but lost in the annual Forbes magazine rankings of the wealthiest Americans.
The fortune of the nation’s commander-in-chief shrank by $600 million, to $3.1 billion, dropping him from 156th place to 248th place in the 2017 Forbes 400 ranking, the magazine reported Tuesday.
The decline means Trump is now tied with Snapchat creator Evan Spiegel in the 2017 Forbes ranking.
A Trump Organization representative did not respond to an email seeking comment.
A tough New York real estate market, a $25 million lawsuit settlement and a costly presidential campaign all contributed to the decline, Forbes reported.
Microsoft co-founder Bill Gates led the Forbes 400 ranking for the 24th year in a row, with an estimated net worth of $89 billion. Amazon CEO Jeff Bezos’ estimated $81.5 billion fortune kept him right behind Gates for the second consecutive year. And famed financial investor Warren Buffett ranked third with an estimated $80.6 billion fortune.