Donald Trump’s Forbes Ranking Drops by 200 places
President of United States Donald Trump has seen a significant drop on Forbes list of the wealthiest people in the world. The business mogul plummeted down more than 200 places in the famous magazine’s list after losing around $400 million in his net worth since last year. He is currently ranked 766th while he stood at the 544th place in last year’s standings.
Forbes attributed his drop to “a tough New York real estate market, particularly for retail locations; a costly lawsuit and an expensive presidential campaign.”
Moreover, President Donald Trump lost a billion US dollars in net worth in 2017. Trump Tower, the President’s New York home, lost around $41 million in value in 2017. He is also losing a longtime renter on his 65,000 square-foot property on 6 East 57th Street. as tenant...