Trump falls 138 spots on Forbes' 400 richest Americans list

[Gothmog]

This will piss trump off https://www.politico.com/story/2018/10/02/trump-forbes-net-worth-861235

President Donald Trump, who has long bragged about his success and wealth, has dropped more than 100 spots on Forbes' list of the wealthiest people in the United States.

Trump's net worth has dropped from $4.5 billion in 2015 to $3.1 billion in the last two years, Forbes reported. The magazine also said that the drop has knocked Trump 138 spots lower on its latest Forbes 400 list, which will be released on Wednesday.

In 2017, Trump was listed as the 248th richest American.

According to Forbes, Trump's decline is due to a number of factors such as Trump not being truthful about the size of his penthouse, as well as typical commercial space being exterminated by e-commerce. Trump is down more than $100 million due to that factor, Forbes said.

[DFW]

1. If their were any justice, he would be far lower than that

The guy who called himself "the King of Debt," is on the list of America's richest 400?

I don't have my calculator in front of me, but if you claim assets of $10 billion and debts of $12 billion, you're only "rich" for as long as the debts don't get called in. One could ask, if Trump has a negative net worth, how does he get away with living like a billionaire? Why don't his creditors call in their debts as fast as they can, in order to not be the last man standing, holding worthless debt?

Well, if a debt is deemed solid, the creditor can keep it on their books as an asset. The moment the debt is deemed unrecoverable, that asset is no longer an asset, and the (bank/company/individual/government/whatever) holding the debt is then also in financial trouble if they depend on that debt to show themselves as solvent. So, they prefer to keep Trump's debt on the books and show those debts as solid assets. Hey, as long as they can get away with it, right?

Remember the old saying: steal $100 and you're a criminal. Steal $100 million, and you're a hero. Now we can add to that, "steal $1 billion, and you're president."

[SWBTATTReg]

2. Absolutely right. He should not be on the list period. Not that I really care who is the ...

richest or not personally. It doesn't matter a hoot to me. What matters to me is my 400 top friends (I don't have that many), but everyone of them is worth more than any of these so called 400 richest.

Wilbur Ross is also another fraud probably on the list, especially since he stole most of his money.

Take care, DFW.

[marylandblue]

4. Putin is his biggest creditor, and he is making a huge profit

[Totally Tunsie]

5. "Patience, young grasshopper".

He will crash and burn BIGLY.

[Wellstone ruled]

3. After today's revalations about Trump's

Crime Family Tax Scams. Don't think it will be long for the Bankruptcies to begin.

Trump Crime Syndicate has been running a Ponzi for decades.

Here is a clue,when word leaks about Trump's Lawyers head to the Court House in New York,my theory falls into place.

[Gothmog]

6. Trump has lost $1B in personal wealth since running for president, according to latest Forbes list.

Link to tweet

[FakeNoose]

8. Forbes has always been wrong about Trump

Fact is, nobody knows how much money Trump "has." I don't think he does either. But he's spent his entire life bullshitting people (including the reporters for Forbes) and gotten away with it.

Finally the NYT reporters got a windfall and discovered hidden documents that show how little money Trump has ever made in his life. He's basically been living off his Dad's handouts, and losing most of it in bad business investments. The tax fraud came about when the handouts from his Dad never got taxed as "gifts" even though that's exactly what they were. The IRS and the NYS taxing authority need to look into this and see what can be done, perhaps maybe sue him (and the entire family) for back taxes.

Long story short, Trump NEVER belonged on the Forbes list to begin with. It's been smoke and mirrors from the get-go.

[Hortensis]

7. Oh, bet that hurts. Good.

Now we hear that his sister, a federal appellate judge at the same extremely powerful and exalted level as Kavanaugh currently, could have seriously violated judicial ethics.