According to the recent list of billionaires released by Forbes, Donald Trump is the richest President in the world. Interestingly, in the 400 richest people in the United States of America, Trump stands at a far 259th spot. His current ranking fell by 11 spots as compared to last year.
Donald Trump currently values at an estimated $3.1 billion. It is the third consecutive year since his rankings have fallen on the Forbes’ America’s richest person list. In 2015, Trump's fortune was $4.5 billion, standing at 121st position. That was the time he had just launched for the presidential campaign. Since then, the ranking slumped down 131 spots, which currently stands at 259.
Trump was surpassed by 27 people including Twitter founder, Jack Dorsey and Trump supporter, Ken Langone. These people have reportedly increased their profits by an estimated $100 million. The decline in Trump's wealth was apparently attributed to his declining assets with the downfall in brick and mortar business, slow down in the real estate, and loss in the luxury sector. His name was previously connected with luxury. But over time, the value of his name declines in the luxury sector, and his name came to be connected with divisiveness. This drove away business partners and potential buyers of Trump's businesses.
The Top 10 richest people in America are:
1. Jeff Bezos - Amazon ($160 billion)
2. Bill Gates - Microsoft ($97 billion)
3. Warren Buffet - Berkshire Hathway ($88.3 billion)
4. Mark Zuckerberg - Facebook ($61 billion)
5. Larry Ellison - Oracle ($58.4 billion)
6. Larry Page - Google ($53.8 billion)
7. Charles Koch - Koch Industries ($53.5 billion)
7. David Koch - Koch Industries ($53.5 billion)
9. Sergey Brin - Google ($52.4 billion)
10. Michael Bloomberg - Bloomberg LP ($51.8 billion)
The average worth of the country increased by approximately US$ 600 million over the past year.