Do you think Forbes is including all of Trumps backdoor deals with China, Russia and the rest?
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Donald Trump's Net Worth Has Fallen - How Much is Donald Trump Worth
Donald Trump might be the richest president in American history, but according to a new ranking in Forbes, he's $1 billion poorer than he was at this point last year.
With an estimated net worth of $3.5 billion, the president is number 544 on the magazine's annual list of the world's billionaires (there are a record 2,043 in the ranking this year). That's roughly a third of the more than $10 billion Trump claimed he was worth during the election last year.
Forbes blames the struggling midtown Manhattan real estate market, which reportedly comprises 40 percent of Trump's holdings, for the drop. "What happens in that micromarket does more to affect the net worth of Donald Trump than anything else in the world," the magazine reports. "Net operating profits have fallen at Trump Tower. Nike, the lone tenant at the Trump-owned Niketown, just signed a reported $700 million deal in December for a spot a few blocks south, suggesting its days at its current location may be numbered."
Trump's cash reserves took a hit, too, after he used $66 million of his own money to fund his presidential campaign, and settled a Trump University lawsuit for $25 million.
Maybe it's time to increase the initiation fee at Mar-a-Lago again.