President Trump tumbled 92 places on Forbes' 2017 list of the richest Americans, released Tuesday, due to a $600 million loss since the last ranking, Deutsche Welle reports. Forbes, which credited Trump with $3.1 billion (a far cry from Trump's $10 billion boast in 2015), said that the drop was due to the "tough New York real estate market, particularly for retail locations; a costly lawsuit; and an expensive presidential campaign."
Trump charted as the 248th-richest person in America in 2017, down from 156th. "The magazine said the downgrading was also a result of 'new information' it had collected after Donald Trump had claimed during his campaign in 2015 that he owned $9.2 billion in assets and $8.7 billion in net worth," Deutsche Welle reports.
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