President Trump has seen his fortune dwindle by $600 million to $3.1 billion, according to a list of the 400 richest American billionaires released by Forbes magazine on Tuesday.
Microsoft co-founder Bill Gates retained his first place on the list for a 24th consecutive year on a net worth of $89 billion with Amazon’s Jeff Bezos, taking the number two position with a net worth of $81.5 billion.
Trump who is the first U.S. president to emerge solely from the private sector, dropped from the 156th spot he recorded before winning the elections and now shares the 248 spot with 27-year-old Snap co-founder and CEO Evan Siegel, the youngest person on the list.
The 36th annual America wealthiest list recorded 22 newcomers, including Netflix co-founder and CEO Reed Hastings, while 26 people dropped off from last year, including U.S. Commerce Secretary Wilbur Ross.
Similarly, there were only 50 women on the list, with Alice Walton, the daughter of Wal-Mart founder Sam Walton, ranked as the highest at 13.
Surprisingly, the biggest gainer in dollar terms was Facebook’s Mark Zuckerberg, ramping up a $15.5 billion increase in net worth to retain his number four ranking at $ 71 billion.
Forbes related Trump’s slump to a weakening New York retail and office real estate market, and new information about his assets.