Trump drops 92 places on Forbes' richest Americans list after losing almost $600 million

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.

The list is topped by Bill Gates, Jeff Bezos, Warren Buffett, Mark Zuckerberg, and Larry Ellison. In sum, the 400 richest Americans are worth a combined $2.7 trillion, Politico reports. See the full list here.

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