Economy

Donald Trump ranking falls most notably in latest Forbes 400 list

Donald Trump ranking falls most notably in latest Forbes 400 list”

But Trump, the first United States president to come exclusively from the private sector, is ranked 248 - sharing the spot with 27-year-old Snap co-founder and CEO Evan Spiegel, the youngest person on the list.

The drop comes from a decline in Trump's net worth, according to Forbes.

His highest net worth valuation by the magazine came in 2015 at $4.5 billion. By Forbes' estimates, Trump's wealth has fallen 31 percent in two years.

That said, Secretary of Education Betsy DeVos' father-in-law, Richard DeVos, the co-founder of marketing company Amway, is included on the list. The year before, he was ranked 156th and Forbes said he was worth $3.7 billion.

New Orleans Saints and Pelicans owner and vehicle dealer Tom Benson has again made the list of Forbes' 400 wealthiest Americans, coming in at No. 288 in the 2017 rankings. That's up $8 billion from previous year.

Bill Gates, worth $89 billion, tops the list for the 24th consecutive year.

That all added up to see his wealth drop from $3.7bn to $3.1bn for the year to June 2017.

The 90-year-old Benson is the only Louisianan on the list.

President Donald Trump took a tumble on Forbes' list of the richest Americans but the landing was still soft. They determine the victor or loser of any deal and establish an industry hierarchy.

Trump has tweeted about the Forbes 400 list before, including once in 2014 when he retweeted and commented on a person's tweet that claimed that Forbes underestimates Trump's actual net worth.



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