Forbes is out with its list of the 400 wealthiest Americans, and unfortunately, the POTUS position has slipped. He’s sitting at #248 this year which is a drop of 92 from last year. His net worth is $3.1 billion which fell by $600 million in 2017.
So why such a significant drop? Forbes says the decline is due to “a tough New York real estate market, particularly for retail locations; a costly lawsuit and an expensive presidential campaign.”
Overall though most billionaires in the top 400 have gotten richer. This year it takes at least $2 billion to get into the list. Forbes estimates there are over 150 billionaires who are too poor to make the list.
Number one on the list is Bill Gates with a net worth of $89 billion, Amazon founder and CEO Jeff Bezos is number 2 with $81.5 billion, and in third place is Warren Buffett with $78 billion.
Facebook’s Mark Zuckerberg had the most significant jump in wealth to $71 billion, and Snapchat’s Evan Spiegel is the youngest on the list with $3.1 billion. He’s only 27-years-old.
It’s interesting to note that Trump’s net worth is at $2.86 billion with the Bloomberg’s worldwide billionaire list.
People on social media were quick to chime in.