Lately, Donald Trump has not been having the smoothest run in his bid to be the President of the United States. The Donald, as he has been nicknamed by some Americans, was badly burned last week by a story broken by the The New York Times.
According to the New York Times, Trump had declared a $916m loss on his 1995 state tax returns, and it was the biggest single disclosure of The Donald’s financial dealings. In the course of his presidential campaign Trump has kept most details of his financial dealings out of the public eye, making his actual net worth something of a raging debate this election season.
The Donald’s Net Worth dropped By $800m
Now Forbes has come out with more financial reveals for the Donald. According to the Forbes 400, an annual ranking of the world’s wealthiest people, the Republican nominee for president is worth $800m less this year than he was last year. The Donald’s net worth fell from $4.5bn to $3.7bn between the 2015 and 2016 ranking.
With that fall, down 35 places from 2015, he is now tied for 156th place on the magazine’s richest list with fellow real estate developers Jerry Speyer and Igor Olenicoff, FedEx founder Frederick Smith, and Steven Spielberg, who saw his own net worth rise by about $100m.
The Donald may have fallen, but the total net worth of all the individuals on the Forbes 400 list was at a record high. They were worth $2.4tn this year and had an average net worth of $6bn. Microsoft founder, Bill Gates, retains his status as the wealthiest with a gain of $5bn in the last year. His net worth increased from $76bn to $81bn.
Jeff Bezos, Amazon’s co-founder is now the second richest person in the world knocking Warren Buffett to the number three spot. Mark Zuckerberg is in fourth place and Oracle CEO Larry Ellison is down to number five.