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posted by martyb on Thursday October 19 2017, @11:44AM   Printer-friendly
from the fortunes-declining-like-many-other-americans dept.

AlterNet reports

Donald Trump has dropped 92 places in the Forbes list of wealthiest Americans, with the magazine putting his wealth at $3.1bn, down from $3.7bn last year.

[...] Forbes ranked the first billionaire president as the 248th wealthiest person in America. The year before, he was ranked 156th.

As a candidate, Trump said his net worth was more than $10bn, but Forbes pegged that figure at $4.5bn in September 2015. By Forbes' estimates, Trump's wealth has fallen 31% in two years.

According to Forbes' story:

It was another record year for the wealthiest people in America, as the price of admission to the country's most exclusive club jumped nearly 18% to $2 billion. Even at these new heights, entrepreneurs are breaking into the ranks for the first time as they mint fortunes in everything from telecom to booze to fishing. There were 22 newcomers, 14 of whom are self-made entrepreneurs. Among the most notable: Arizona iced tea cofounder Don Vultaggio; Netflix cofounder Reed Hastings; Tito Beveridge, the creator of Tito's Handmade Vodka; Chuck Bundrant, whose Trident Seafoods sells his fish to places like McDonald's and Burger King; and Rocco Commisso, founder of cable TV and broadband firm Mediacom and owner of the New York Cosmos, a soccer club based in Brooklyn.

The most notable loser was President Donald Trump, whose fortune fell $600 million to $3.1 billion. A tough New York real estate market, particularly for retail locations; a costly lawsuit and an expensive presidential campaign all contributed to the declining fortune of the 45th president.

If you prefer, you can just go straight to the list [Edit - that requires JS from www.forbes.com and i.forbesimg.com, JS-phobes can get just the raw numbers here -- FP].

In November, some thought that having a successful businessman at the helm would cure USA's ills. I wonder if this will increase the incidence of buyer's remorse among voters.


Original Submission

 
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  • (Score: 2) by looorg on Thursday October 19 2017, @12:39PM (3 children)

    by looorg (578) on Thursday October 19 2017, @12:39PM (#584508)

    Did I just miss out on something obvious? He isn't allowed to be a businessman when he is president? So one would think his fortune would dwindle while in "public service" (or whatever you like to call it).

    Personally I found this entry funny; "Tito's Handmade Vodka" ... compared to what? All the Vodka made by the feet of the robot overlords?

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  • (Score: 5, Informative) by Anonymous Coward on Thursday October 19 2017, @12:59PM (2 children)

    by Anonymous Coward on Thursday October 19 2017, @12:59PM (#584518)

    Not true.
    All presidents prior to Trump have put their holdings into a trust that they can't touch.

    Trump didn't.
    ...but that's not illegal in itself.

    The Emoluments Clause(s)[1] of the Constitution says that politicians can't take any additional income that wouldn't come if they weren't in office (gifts, bribes, foreigners renting rooms in your hotels to curry favor).
    Trump has ignored this constitutional provision so many times that it ain't even funny.
    That one is definitely going into the articles of impeachment.

    [1] It's important enough that they actually put it in there TWICE.

    -- OriginalOwner_ [soylentnews.org]

    • (Score: 2) by realDonaldTrump on Thursday October 19 2017, @02:57PM

      by realDonaldTrump (6614) on Thursday October 19 2017, @02:57PM (#584564) Homepage Journal

      I've separated myself from my companies. I'm no longer running them. My sons, Donald Jr. and Eric, are running them. The Kingdom of Bahrain could hold a huge, huge party at Trump International Hotel in Washington to celebrate the anniversary of His Majesty King Hamad Bin Isa Al Khalifa’s accession to the throne, and I would be none the wiser. It's a mile away from the White House, but I would never know. The Republican Party could hold a fund raiser there in July, and I would never know. I call it a blind trust. Trust me, I'm totally, totally blind to it. 🇺🇸

    • (Score: 4, Informative) by Phoenix666 on Thursday October 19 2017, @03:55PM

      by Phoenix666 (552) on Thursday October 19 2017, @03:55PM (#584618) Journal

      C'mon Dick Cheney blew that totally away by invading Iraq to enrich himself through fat contracts for Halliburton. If whe wasn't impeached and turned ovedr to the Hague to be tried for war crimes, no American president ever will be.

      --
      Washington DC delenda est.