Trump tumbles on Forbes rich list
Republican presidential nominee Donald Trump / AFP PHOTO / Jason Connolly
It seems running for president is hurting Donald Trump’s finances big time. The Republican nominee’s fortune fell $800 million last year sending him tumbling 35 spots on a list of richest Americans, Forbes said Tuesday.
The business magazine said the New York real estate mogul is worth $3.7 billion — down from an estimated $4.5 billion in March — and just over a third of the $10 billion that Trump has bragged of amassing.
Trump, who has made his fabulous wealth a key selling point in his bid for the White House, plummeted to number 156 on Forbes’ annual list of the richest 400 Americans.
It is more bad news for the Republican as his Democratic rival Hillary Clinton pulls ahead in the polls after winning last week’s first presidential debate.
“A softening of New York City’s real estate market, particularly in retail and office, where valuations are trending down, has diminished his estimated net worth,” Forbes wrote.
Of 28 Trump assets scrutinized by the magazine, Forbes said 18 fell in value, including his Trump Tower headquarters on New York’s Fifth Avenue and Mar-a-Lago, his beachfront club in Palm Beach, Florida.
Trump poured $7 million into his campaign and loaned the campaign an additional $48 million, which he is unlikely to get back, the magazine added.
He did just one real estate deal this year, buying a warehouse in Charleston, South Carolina that was in foreclosure, Forbes said.
In a further dig at the most loathed US presidential candidate in modern times, Forbes chose this year to highlight immigrant success stories and said a record 42 naturalized Americans made this year’s annual list.
Immigrants account for 10.5 percent of the list, whereas naturalized citizens make up only six percent of the population, Forbes said. Those on the list come from 21 countries, led by Israel, India, Hungary and Taiwan.
Trump has made immigration a centerpiece of his campaign, promising to build a wall on the southern US border with Mexico and threatening to deport millions of illegal immigrants.
Fellow New York billionaire and former mayor Michael Bloomberg, who mulled for months whether to run for president in 2016, was number six on the list.
Bill Gates retains the top spot with a net worth of $81 billion. He has headed the list for 23 straight years, Forbes said.
The billionaires on the 2016 ranking have a record-breaking, combined total net worth of $2.4 trillion, up from $2.34 trillion in 2015. The average net worth of a Forbes 400 member hit $6 billion, also a record high, said Forbes.
The complete rich list is viewable at www.forbes.com/forbes400.
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11 Comments
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Still worth $3.7 billion? That’s not small fry.
Why all the fuss about Trump and looking away from satanic activities of demonic Hillary?
What is demonic about Hilary? Were you at Okija Shrine together? Please enlighten us, we would like to know the details. You spoke like someone who knows what others don’t.
How do you enlighten a sarcastic fellow? I wouldn’t wish a Hillary for Nigerian president with all her crookedness. However people like her will actually like her. The best response to you is that let’s wait and see the events unfold
I am not waiting for any events to unfold, I am voting for her. You can watch the events, I have a vote to cast and you can take that to the bank. American election is not about religion or vodoo or whatever demonic stuff you are talking about. It is all about credibility, it is all about what you have for Americans and not about religion or spiritual beliefs.
Stop deceiving people and tell us what is demonic about her or keep your mouth shut.
Trump your progenitor is not ready to release his Tax returns just like you are with holding your demonic information. I guess it runs in your veins. Birds of the same feather.
Different people wish different things for America – there are Americans that wish America evil.
If you are not an American Citizen, why bother with what is happening here? The one the likes of you voted for in your wisdom is in Abuja, deal with it. Americans knows how to handle their problems. Hilary Clinton is our choice. American’s don’t choose their leaders by the size of the aspirants pocket. Trump has nothing to offer Americans other than pain and misery which is already clearly spelt out in the number of Bankruptcies he has filed and how many small companies and families he destroyed as a result of that.
Failed airlines, Companies, failed Trump University etc are living testimonies about the man you are wishing for the American people. God will not hear your prayer!
With the same mentality the likes of you ruined Nigeria because you are myopic, undiscerning and crooked. I don’t live in Nigeria though I visit at least twice a year. I am concerned with world politics . Again let’s wait till November when true Americans joined with God will choose the right person. Mark my words.
You are “discerning, straight and intelligent” and that is why a man who did not pay federal taxes for 18 years and was asked on national television why he didn’t and his response was that he knows how to beat the system is your anointed President.
Well you can continue to curse, I know the likes of you. Show me your friend and I will tell you who you are.
I am waiting.
He was at the demonic Oshun river shrine…
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