Trump drops 138 spots on Forbes' wealthiest Americans list after losing over R20 billion since announcing his presidential bid in 2015
- US President Donald Trump fell 138 spots on Forbes' list of the 400 richest people in the US.
- Trump has lost roughly $1.4 billion (or R20 billion) in net worth since announcing his presidential campaign in 2015, according to a Forbes report published ahead of the release of its newest "Forbes 400" list.
US President Donald Trump has fallen 138 spots on a Forbes list of the richest people in the US.
Since Trump launched his presidential campaign in 2015, his net worth shrunk by roughly $1.4 billion, according to Forbes. It was estimated to be $4.5 billion (roughly R64 billion at today's rate) in 2015. Over the last two years, that number settled to around $3.1 billion, the publication said.
According to the magazine, there were several factors that affected Trump's net worth, including negative press surrounding his administration, which has taken a toll on Trump's personal brand.
Trump's investments in commercial real estate have also taken a hit, due in part to a boom in e-commerce that has grown exponentially in recent years.
During his 2016 presidential campaign, Trump put out a statement on his net worth instead of releasing his tax returns, side-stepping a longtime tradition in presidential politics.
In the statement, Trump asserted that he had a "massive" net worth "in excess of $10 billion."
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