President Donald Trump was a loser on Forbes‘ annual 400 richest Americans list.
He was 156 on last year’s list, when he was worth $3.7 billion. On this year’s list, released Tuesday, he dropped to 248. Now he’s only worth $3.1 billion. In 2015, his fortune was worth $4.5 billion.
It looks like those top-half-of-the-list days are over.
Instead, a man Trump’s accused of pushing “fake news” — Amazon CEO Jeff Bezos, who bought the Washington Post — is near the top of the list. Bezos came in at No. 2 with a net worth of $81.5 billion. (Microsoft co-founder Bill Gates still is holding it down at the top.)
Trump, 71, campaigned on the platform that he is a successful businessman and has a lot of money. But now he’s dropped 92 spots in one year on the billionaire list. Forbes attributed his loss to luxury real estate dropping in New York City — and that’s where the president’s money mostly has gone.
I made a lot of money in Atlantic City and left 7 years ago, great timing (as all know). Pols made big mistakes, now many bankruptcies.
— Donald J. Trump (@realDonaldTrump) July 6, 2016
Trump’s gone after some of the other top billionaires, like Charles Koch, who was No. 6 on this year’s list and has been toward the top of the list for years with his net worth at $48.5 billion, which has only fluctuated slightly in the past few years.
A Trump insult was lobbed directly at the billionaire businessman two years ago — not as subtle as his Bezos attacks.
It has to hurt that Trump is tied with the youngest billionaires on the list: Snapchat co-founders Evan Spiegel, 26, and Bobby Murphy, 29. Spiegel jumped from the bottom of the list to closer to the middle of the pack after his company went public earlier this year.
Better luck next year, Mr. President.