Political Junkie

Political Junkie

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Trump Named 'Most Notable Loser' After Net Worth Drops $600 Million

INJOForbes released its updated list of the 400 wealthiest Americans on Tuesday, and the magazine's calculations weren't kind to President Donald Trump.

The president dropped 96 spots on the list year-over-year after losing an estimated $600 million, which sank his net worth down to $3.1 billion, according to Forbes.

The article also names Trump “the most notable loser” thanks to his significant drop in wealth.

Likely factors impacting the president's finances include spending $66 million of his own money on his presidential campaign, his $25 million settlement following a class-action lawsuit filed against Trump University and the depreciation of his Manhattan real estate investments.

Forbes found that the majority of Trump's wealth comes from New York City real estate, $1.6 billion, with $570 million in golf courses and resorts.

However, a number of the president's assets increased in value over the past year, including his minority stake in a downtown San Francisco office building and a hotel-condo tower in Las Vegas.

Read the full story on IJR.com


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