Forbes List: Trump's Fortune plummets $600 Million to $3.1 Billion

7 Michiganders make 2017 Forbes list of '400 richest Americans'

In other words, over the past two years, Trump's net worth has fallen almost $1.5 billion, according to Forbes. According to a November 2016 feature in Forbes, a costly lawsuit and an expensive presidential campaign also contributed to his drop in wealth.

As a candidate, Trump said his net worth was more than $10bn, but Forbes pegged that figure at $4.5bn in September 2015.

The Forbes 400 list features the wealthiest billionaires in the United States, but not every American with three commas in their net worth made the cut.

US President Donald Trump fell nearly 100 places in the annual release of the Forbes rich list, while Microsoft founder Bill Gates remained atop the rankings. By Forbes' estimates, his wealth has fallen 31 percent in two years.

According to the magazine, the drop in wealth can be attributed to "a tough NY real estate market, particularly for retail locations; a costly lawsuit and an expensive presidential campaign".

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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. "It's why Trump, more than any of the 1,600 or so people who've been on The Forbes 400, has spent more time lobbying and cajoling Forbes to get a higher valuation-and validation", the October 10 article, written by Forbes staffer Randall Lane, reads.

The 2017 Forbes 400 list of the richest individuals in America includes eight who reside in the Washington region.

The publication releases an annual issue of the magazine that examines the richest people in the country based on their estimated net worth.

Business magnate and investor Warren Buffett was third with $78 billion, while Facebook co-founder and CEO Mark Zuckerberg ranked fourth with $71 billion and Oracle CEO and co-founder Larry Ellison rounded out the top five with $59 billion.

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