Trump's fortune falls $600 million on Forbes list

Randolph Lopez
October 20, 2017

"It's why Trump, more than any of the 1,600 or so people who've been on The Forbes 400, has spent more time lobbying and cajoling Forbes to get a higher valuation-and validation", the October 10 article, written by Forbes staffer Randall Lane, reads. The average net worth rose to $6.7 billion, up from $6 billion a year ago. The year before, he was ranked 156th.

There were 169 billionaires who did not make the Forbes 400 due to how many Americans have reached the $1-billion mark.

"America's richest are richer than ever".

Forbes' list is once again topped by Microsoft co-founder Bill Gates with a net worth of $89bn, followed by Amazon's Jeff Bezos and Berkshire Hathaway's Warren Buffett.

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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. He was no. 156 previous year. The magazine attributes his "decline in wealth to challenging NY real estate market, a costly lawsuit and an expensive presidential campaign".

There were 50 women in the top 400, compared to 51 past year.

Forbes used closing stock prices from September 22, 2017, to compile the Forbes 400 list.

Other reports by GlobalViralNews

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