You are here: Home » News-IANS » Politics
Business Standard

After taking $1-bn hit, Trump's worth less than the average billionaire

According to the Forbes Billionaires List, US President Donald Trump's net worth stands at $3.5 bn

IANS  |  Washington 

US President, Donald Trump, trump
US President Donald Trump. Photo: Reuters

US President dropped 220 points on magazine's 2017 Billionaires List, putting his net worth at $3.5 billion, down $1 billion from the rankings it issued a year ago, a media report said.

According to the list published on Monday, his current position leaves him tied with 19 others as the 544th richest person in the world, CNN reported.

said that much of the decline in Trump's net worth is due to softness in the midtown 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," the magazine said.

"What happens in that micromarket does more to affect the net worth of than anything else in the world. Lately, the neighbourhood has been struggling," it said.

The magazine also noted that he gave $66 million to his presidential campaign and paid $25 million to settle a lawsuit related to Trump University.

Ironically, the list came out the same day that Trump met with Bill Gates, who is the world's richest man for the fourth straight year, according to

The Microsoft founder's net worth is $86 billion, up from $75 billion last year.

American business magnate reclaimed the second spot on the list for the first time since 2014, with a net worth of $75.6 billion, up from $60.8 billion in 2016.

Amazon founder rose to third on the list for the first time, due to a jump in Amazon shares, which boosted his net worth to $72.8 billion.

The 2017 list is longer than it has ever been before -- estimates there are now 2,043 billionaires worldwide, up from 1,810 in 2016.

Their average net worth is $3.75 billion, which means Trump is not even worth as much as the "average" billionaire, CNN added.

First Published: Tue, March 21 2017. 11:11 IST