The personal fortune of US President Donald Trump has significantly nosedived over the last year.
According to Forbes’ 2017 billionaire list, the US President is now 544th in the global ranking of the world’s super-rich.
This puts him more than 200 spots below where he ranked last year, with an estimated wealth of $3.5bn.
Forbes said the $1bn dip in Trump’s wealth was due to his huge investment in the Manhattan real estate market.
“Forty per cent of Donald Trump’s fortune is tied up in Trump Tower and eight buildings within one mile of it. Lately, the neighbourhood has been struggling (relatively speaking),” Forbes said.
When Forbes estimated his fortune at $4.5bn in 2015, Trump reportedly said, “I’m running for President. I’m worth much more than you have me down [for].
“I don’t look good, to be honest. I mean, I look better if I’m worth $10bn than if I’m worth $4bn.”
Microsoft co-founder and philanthropist Bill Gates topped this year’s rich list for a fourth consecutive year, with an estimated fortune of around $86bn.
He was followed by Berkshire Hathaway chief executive Warren Buffett, whose wealth was cited to be around $75.6bn.
Others in the top ten, which is heavily dominated by Americans in the technology sector, were Facebook founder Mark Zuckerberg, at number five, Oracle co-founder Larry Ellison at number seven and Amazon’s founder Jeff Bezos.
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