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The Republican nominee’s fortune fell $800 million last year sending him tumbling 35 spots on a list of richest Americans, Forbes said Tuesday.
The business magazine said the New York real estate mogul is worth $3.7 billion, down from an estimated $4.5 billion in March and just over a third of the $10 billion that Trump has bragged of amassing.
Trump, who has made his fabulous wealth a key selling point in his bid for the White House, plummeted to number 156 on Forbes’ annual list of the richest 400 Americans.
It is more bad news for the Republican as his Democratic rival Hillary Clinton pulls ahead in the polls after winning last week’s first presidential debate.
“A softening of New York City’s real estate market, particularly in retail and office, where valuations are trending down, has diminished his estimated net worth,” Forbes wrote.
Of 28 Trump assets scrutinised by the magazine, Forbes said 18 fell in value, including his Trump Tower headquarters on New York’s Fifth Avenue and Mar-a-Lago, his beachfront club in Palm Beach, Florida.
Fellow New York billionaire and former mayor Michael Bloomberg, who mulled for months whether to run for president in 2016, was number six on the list.
Bill Gates retains the top spot with a net worth of $81 billion. He has headed the list for 23 straight years, Forbes said.
The billionaires on the 2016 ranking have a record-breaking, combined total net worth of $2.4 trillion, up from $2.34 trillion in 2015. The average net worth of a Forbes 400 member hit $6 billion, also a record high, said Forbes.
The complete rich list is viewable at FORBES WEB.
The business magazine said the New York real estate mogul is worth $3.7 billion, down from an estimated $4.5 billion in March and just over a third of the $10 billion that Trump has bragged of amassing.
Trump, who has made his fabulous wealth a key selling point in his bid for the White House, plummeted to number 156 on Forbes’ annual list of the richest 400 Americans.
It is more bad news for the Republican as his Democratic rival Hillary Clinton pulls ahead in the polls after winning last week’s first presidential debate.
“A softening of New York City’s real estate market, particularly in retail and office, where valuations are trending down, has diminished his estimated net worth,” Forbes wrote.
Of 28 Trump assets scrutinised by the magazine, Forbes said 18 fell in value, including his Trump Tower headquarters on New York’s Fifth Avenue and Mar-a-Lago, his beachfront club in Palm Beach, Florida.
Fellow New York billionaire and former mayor Michael Bloomberg, who mulled for months whether to run for president in 2016, was number six on the list.
Bill Gates retains the top spot with a net worth of $81 billion. He has headed the list for 23 straight years, Forbes said.
The billionaires on the 2016 ranking have a record-breaking, combined total net worth of $2.4 trillion, up from $2.34 trillion in 2015. The average net worth of a Forbes 400 member hit $6 billion, also a record high, said Forbes.
The complete rich list is viewable at FORBES WEB.
