Donald Trump Moves Down The Rich List
Trump Falls 220 Places on the Forbes Billionaire List
Since taking over the presidential office, Donald Trump is poorer to the tune of $1 billion, according to the list of worldwide billionaires published by Forbes.
The most recent list, which the magazine released on Monday, showed that Trump's wealth had dropped from $4.5 billion in 2016 to $3.5 billion now. This represents a fall of 220 places from the magazine's billionaire list last year, from number 336 to number 544.
While Trump stopped working on his businesses upon entering office, his fall is not due to selling his businesses off.
Instead, Trump's wealth has reduced because roughly forty percent of it originates from properties he owns in New York, such as Trump Tower and several other properties nearby.
Reportedly, Forbes compiles its' list of billionaires based on a 'wealth snapshot', completed on February 17. The value of assets is gauged, using global exchange rates and stock prices. Forbes acknowledges that these estimates might not be accurate by the time they are published, and that determining someone's personal wealth is harder when it is linked to the fortune of relatives.
See All Of Donald Trump's $4.5B Assets | Forbes 400 2015