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Donald Trump's Place on Forbes' List of the Wealthiest Americans Slides Bigly

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

-- OriginalOwner_ writes:

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: 1) by corey on Thursday October 19 2017, @08:32PM (1 child)

    by corey (2202) on Thursday October 19 2017, @08:32PM (#584857)

    And the rich keep getting richer..

    Need to convert them all to Buddhism, then they'll give all of it away to help others and keep just enough they need.

  • (Score: 1, Insightful) by Anonymous Coward on Thursday October 19 2017, @10:20PM

    by Anonymous Coward on Thursday October 19 2017, @10:20PM (#584944)

    then they'll give all of it away to help others

    ...or those dirtbags could simply be proper Christians--rather than just Sunday Christians.

    "It is easier for a camel to go through the eye of a needle, than for a rich man to enter into the kingdom of God." -- Jesus of Nazareth (Matthew 19:24)

    .

    Then the King will say to those on his right, "Come, you who are blessed by my Father, inherit the kingdom prepared for you from the foundation of the world.

    "For I was hungry and you gave me food, I was thirsty and you gave me drink, I was a stranger and you welcomed me, I was naked and you clothed me, I was sick and you visited me, I was in prison and you came to me."

    Then the righteous will answer him, saying, "Lord, when did we see you hungry and feed you, or thirsty and give you drink? And when did we see you a stranger and welcome you, or naked and clothe you? And when did we see you sick or in prison and visit you?"

    And the King will answer them, "Truly, I say to you, as you did it to one of the least of these my brothers, you did it to me." -- Jesus of Nazareth (Matthew 25:35-40)

    -- OriginalOwner_ [soylentnews.org]