President Trump’s net worth has fallen by $600 million, according to the Forbes list of the 400 richest Americans.
Forbes on Tuesday reported that Trump’s net worth is an estimated $3.1 billion, down from $3.7 billion a year ago.
Trump is now ranked No. 248 among the 400 richest Americans, down from No. 156 on the list’s 2016 version.
“A tough real estate market, a costly lawsuit and an expensive presidential campaign all contributed to the declining fortune of the 45th president,” Forbes reported.
“The biggest hit was to Trump’s real estate portfolio, which is weighted heavily toward New York City,” it added.
“Values of several Manhattan properties, particularly those on or near Fifth Avenue, have dropped, shaving nearly $400 million off his fortune.”
Forbes additionally reported that Trump’s “cash pile is down an estimated $100 million since last year.”
“[It’s] after he spent $66 million on his campaign and $25 million settling a lawsuit over Trump University,” it wrote.
Forbes also noted that members of this year’s list needed to boast a net worth of at least $2 billion to qualify, a 18 percent increase since last year.
Microsoft co-founder Bill Gates ranked No. 1 for 2017, sporting a net worth of $89 billion on Forbes’ list.
Amazon CEO Jeff Bezos ranked No. 2 with $85.5 billion, while investor Warren Buffett placed No. 3 with $78 billion.
Facebook founder Mark Zuckerberg appeared at No. 4 with $71 billion, while Oracle CEO and founder Larry Ellison rounded out the top five with $59.9 billion.