President Trump is Still Rich, But Drops in Forbes Latest List

The minimum net worth now required to be counted among the very richest Americans hit a record high of $2 billion, up from $1.7 billion in 2015 and 2016.

With a net worth of $2.8 billion, Tom Benson is ranked No. 288 on Forbes 2017 ranking of the 400 wealthiest Americans.

The president dropped by $600 million - and 92 spots - to No. 248 this year, to an expected total assets of $3.1 billion, as indicated by Forbes, which discharged its new rundown on Tuesday. Last year, Trump was ranked No. 156. Buffett came in at No. 3 this year, at $78 billion.

Forbes also said some of Mr. Trump's golf properties declined in value and that he spent $66 million on the presidential campaign as well as $25 million to settle a fraud lawsuit brought by former students in his defunct Trump University program for real estate investors. The magazine estimated that his net worth has dropped by $600,000 to $3.1 billion from $3.7 billion since a year ago. The full list can be found at Forbes.

The Forbes 400 edition of the magazine was released today.

The Trump Organisation did not respond to a request for comment by time of publication. Similarly, the value of Trump's minority stake in a downtown San Francisco office building rose with the city's hot real estate market, Forbes estimated.

Bill Gates topped the list for the 24th consecutive year.

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.

The 2017 Forbes 400 list of the richest individuals in America includes eight who reside in the Washington region.

Latest News