Wednesday, March 22, 2017

Trump’s Net Worth Plummets $1 Billion As He Drops 220 Spots On The Forbes Billionaires List

Donald Trump claims to be the nation's first billionaire president. Whether that claim is true or not is up for debate.

What isn't up for debate is the fact that Donald isn't as rich as he used to be.

According to the Forbes 2017 Billionaires List published Monday Trump's net worth sits at $3.5 billion. That number is down $1 billion from the rankings Forbes posted just one year ago.

Despite his net wort being listed at the gaudy sum of  $3.5 billion that number remains far from Trump’s own boasts about his fortune which he has placed as high as $11 billion.

As a result of his wealth reduction his position on the Forbes' ranking nosedived 220 spots, leaving him tied with 19 others paupers as merely the 544th richest person in the world.

Forbes said that much of the decline in Trump's net worth is due to softness in the midtown Manhattan real estate market.

According to the magazine...

"Forty percent of Donald Trump's fortune is tied up in Trump Tower and eight buildings within one mile of it. What happens in that micromarket does more to affect the net worth of Donald Trump than anything else in the world. Lately, the neighborhood has been struggling."

In addition to his loss in the real estate market the magazine also noted that Trump "gave" $66 million to his presidential campaign and was forced to pay $25 million to settle his Trump University lawsuit.

Ironically the list comes out the same day that Trump is meeting with Bill Gates, who is the world's richest man for the fourth straight year who's net worth sits at $86 billion.

The 2017 list is longer than it's ever been before. Forbes estimates there are now 2,043 billionaires worldwide, up from 1,810 in 2016. According to the publication the average of net worth of the billionaires on their list is $3.75 billion.

This means Trump is not even worth as much as the "average" billionaire.

That's gonna piss him off... LOL!

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