Economy

Forbes 400 list includes 8 DC-area billionaires

Forbes 400 list includes 8 DC-area billionaires

This year's Forbes 400 list was the most discerning of all, as the magazine reported that the minimum net worth required to be included hit a record high of $2 billion. According to a November 2016 feature in Forbes, a costly lawsuit and an expensive presidential campaign also contributed to his drop in wealth.

"His net worth now stands at $3.1 billion".

The list from the magazine, which ranks the top 400 richest Americans, saw Trump fall 92 places to 248th, with his total wealth down $600m in comparison with previous year.

President Donald Trump came in at number 248 as he's down $600 million to a net worth of $3.1 billion as the NY retail and office real estate market has suffered a dip. Forbes put his net worth at $3.7 billion a year ago and $4.5 billion two years ago. That's enough to rank the Chevy Chase, Maryland resident at No. 122 on Forbes list.

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A tough NY real estate market, particularly for retail locations; a costly lawsuit and an expensive presidential campaign all contributed to the declining fortune of the 45th president.

While most of Trump's real estate is in New York City, a few of his hotels and other buildings in the western United States gained in estimated valued. The Forbes 400 package in Forbes' November 14, 2017 special issue features an exclusive, wide-ranging interview with the 45th US President and an asset-by-asset breakdown of his empire. All net worth estimates are current as of October 17, 2017. There were 169 billionaires who did not make the cut.

Amazon founder and CEO Jeff Bezos, worth 81.5 billion dollars, hold on to the second spot, followed by Warren Buffett and Facebook's Mark Zuckerberg.


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