Trump slides 200 spots in Forbes rich list

Mar 07, 2018, 6:03 AM EST
U.S. President Donald Trump's wealth declined by $400 million since last year.
(Source: Michael Vadon/flickr

U.S. President Donald Trump sits at No.766 in the Forbes 2018 Billionaires List, down by 200 spots compared to last year, a slide attributed to declining Manhattan real estate values and lower revenues at several Trump gulf properties.

The magazine estimates Trump’s net worth at $3.1 billion, which is significantly less than what the Trump campaign claimed in the run up to the elections in 2015, notes CNN.

The $400 million erosion in Trump’s wealth is partly due to “a backlash to his brand in some quarters,” writes The Telegraph.