Trump falls from 544th to 766th on Forbes billionaires list

Seems like going into politics has had an ill effect on Trump’s purse as the US president's worth plummeted by $500 million to an estimated $4 billion since he took up residence in the White House, raising questions over what’s happened to his supposed fabulous wealth.

According to Forbes annual list of world billionaires, the 71-year-old crashed from 544th richest on the Forbes billionaire list to 766th, leaving him with just $4 billion in assets.  

It’s the second year in a row Trump has taken a tumble on the elite ranking of the richest of the rich with $500 million wiped off his fortune this year.

Forbes estimated that Trump lost around $1 billion in net worth in its 2017 ranking.  

The magazine attributed Trump’s decline in wealth to “a tough New York real estate market, particularly for retail locations; a costly lawsuit and an expensive presidential campaign.” 

Trump’s wealth is a far cry from Jeff Bezos’s $160 billion fortune as the Amazon boss is now the richest person on the planet, sailing past Bill Gates, who lost the top ranking for only the sixth time since 1995.

The former reality star started out working for his real estate mogul father, Fred, before becoming the first billionaire president in history in January 2017. His two eldest sons, Donald Jr and Eric, are running his business while he is in office.

But there have long been questions over whether Trump is as rich and successful as he claims to be.