Trump’s Worth Has Plummeted $600 Million, Which Cost Him Over 90 Spots On Forbes’ Richest Americans List

10.17.17 1 year ago 3 Comments

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The annual Forbes Richest People Of America list is officially out, and it seems the POTUS has tumbled down 92 spots to land at #248, demoted by a $600 million drop in his net worth. The Trump University lawsuit, a rockier real estate market in the Big Apple, and the cost of all those MAGA campaign hats all chipped away at his $3.1 billion fortune this year. But don’t worry, it’s still a great time to be a rich American — overall trends show a general upswing for the nation’s wealthiest citizens.

Bloomberg estimated the president’s current net worth at $2.86 billion. But the $240 million difference still puts his losses into perspective. For example, the Trump University settlement only cost the President $25 million dollars. But with an estimated 3,500 lawsuits under his belt over the past several decades and another 134 cases in which he’s been sued in federal court since taking office, he could be looking at a hefty bill from his attorneys, not to mention any possible future payouts.

After spending $66 million out of pocket on his own campaign, Trump wasn’t hesitant to immediately open his pocket book for the 2020 reelection campaign that started almost as soon as he took office. It’s hard to gauge his profits and losses in that department, however, given how many moving parts there are between donors, the Trump Organization, and Donald Trump’s private funds. The Trump Campaign is also doubling as a legal defense fund for the POTUS and his children as the Russia investigation heats up.

It’s not all bad news for Trump, though. The Trump Campaign fund is allowed to spend money on his businesses and has already done so to the tune of at least $600,000. And at the end of the day, his net worth is still in the same ball park as the GDP of Belize. The White House is hardly the equivalent of the poor house, even if Trump reportedly thinks it’s “a real dump.”

(Via Forbes & CNN).

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