US President Donald Trump Drops Down 92 Places in The Forbes Rich List

India.com News Desk
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Washington, October 17: United States President Donald Trump, whose business empire has continued to operate alongside heading the Oval office, has dropped down 92 places in a prestigious ranking of America’s wealthiest people.

The Forbes annual list ranking of 400 richest Americans, said Donald Trump’s position has tumbled 92 places to 248th. Last year, he was ranked at 156th position.

The report said that Trump’s total wealth had fallen $600 million to a net worth of $3.1 billion, largely due to a weakening in the New York City retail and office real estate markets.

The magazine further said that the downgrading of his wealth was also a result of “new information” it had collected.

Trump’s, whose wealth has been tracked by Forbes since 1982, shares his spot on the list with the 27-year-old Evan Spiegel, co-founder and CEO of the parent of Snapchat, and the youngest person included.

With a net worth of $89 billion, Microsoft founder and philanthropist Bill Gates tops the list for the 24th consecutive year. Amazon’s Jeff Bezos, worth $81.5 billion retains the No 2 spot for the second consecutive year, the magazine reported.

Also, Warren Buffet, who was at the 15 spot earlier, has been listed at the third place for the second year in a row.

The report further said that the list of billionaires have a combined total net worth of $2.7 trillion, up from $2.4 trillion in 2016. There were 169 billionaires who did not make the cut.