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.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
US charges Indian tycoon with bribery, fraudSpeed Read Indian billionaire Gautam Adani has been indicted by US prosecutors for his role in a $265 million scheme to secure solar energy deals
-
Boeing machinists approve contract, end strikeSpeed Read The company's largest union approved the new contract offer, ending a seven-week strike
-
US economy still strong in final preelection reportSpeed Read It grew at a solid 2.8% annual rate from July through September
-
Boeing machinists reject deal, continue strikeSpeed Read The rejection came the same day Boeing reported a $6.2 billion quarterly loss
-
Ports reopen after dockworkers halt strikeSpeed Read The 36 ports that closed this week, from Maine to Texas, will start reopening today
-
Empty-nest boomers aren't selling their big homesSpeed Read Most Americans 60 and older do not intend to move, according to a recent survey
-
Brazil accuses Musk of 'disinformation campaign'Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
-
Disney board fends off Peltz infiltration bidSpeed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
