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Trump Loses $600 Million In 12 Months, Falls On ‘Forbes’ 400 Richest Americans List Due To ‘New Information’

By Paula Mooney
Published on: 03:35 PST, Oct 17, 2017

President Donald Trump suffered a bee flying around him in the Rose Garden on Monday, October 16. The president had a bee buzzing perilously close to his famous hair as he spoke to the press about any number of topics, including accusing President Obama of never calling the families of fallen soldiers. (See the bee near Trump here.) While Trump’s claim was dismissed as a lie by prominent Twitter users, Trump might have another bee in his bonnet to tweet about on Tuesday, October, 17, if Trump turns to Twitter to bemoan the fact that Trump’s net worth has fallen $600 million in 12 months, almost 100 spots on the prestigious Forbes list of America’s wealthiest people.

According to the Independent, Trump’s spot on the Forbes annual list has fallen from No. 156 to No. 248, a tumble of nearly 100 spots on the list of the 400 richest Americans. According to Forbes, President Trump’s wealth has gone down by $600 million, but Forbes still pegs Trump as having a net worth of $3.1 billion. The downgrade in Trump’s wealth has been attributed to New York City’s real estate markets weakening; both in the retail space and office sector. There’s also the mysterious “new information” that Forbes has reportedly collected that has added to Trump’s net worth being downgraded.

Trump’s true wealth has been hard to assess since Trump famously refused to release his tax returns. Trump has often bragged about being very wealthy and a genius businessman. According to the Independent, the Security and Exchange Commission (SEC) estimated that Trump was probably only worth about 50 percent of what he has claimed he was worth in the past, which Forbes pegged at $4 billion in 2015.

Forbes reported that Trump didn’t try to up his ranking, but an editor claimed that if Trump tweets about his position on the list, that means Trump cares a lot about his Forbes ranking. Forbes has tracked Trump’s wealth since 1982, but now Trump is in the same spot as 27-year-old Evan Spiegel, the head of Snapchat. Time and Twitter will tell if Trump agrees with Forbes’ assessment of his wealth, or if Trump will call his Forbes fall “fake news.”

[Featured Image by Manuel Balce Ceneta/AP Images]

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