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Trump's net worth drops $600 million on Forbes' rich list, falls 92 spots [View all]
http://money.cnn.com/2017/10/17/news/trump-billionaires-forbes-richest-americans/index.htmlThe rich are getting richer. But not Donald Trump.
The Forbes list of 400 richest Americans shows that the billionaire-in-chief's fortune fell by $600 million to $3.1 billion. As a result he dropped to #248 on the list, after coming in at #156 last year.
The magazine attributed his decline in wealth to "a tough New York real estate market, particularly for retail locations; a costly lawsuit and an expensive presidential campaign." Trump reached a $25 million settlement in a suit that claims that his Trump University real estate seminars defrauded students.
Trump fared better in Forbes' ranking than he did on Bloomberg's worldwide billionaires list, which puts his net worth at $2.86 billion. That's not enough to make him on of the 500 richest people in the world.
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