Forbes rich list: President Trump tumbles down rankings

His estimated worth has dropped more than 200 places.
His estimated worth has dropped more than 200 places. Photo credit: Getty

Forbes magazine has revealed its annual list of billionaires and it's not good news for Donald Trump.

The US President's estimated worth has tumbled more than 200 places to US$3.1 billion (NZ$ 4.25 billion).

The publication, which keeps a ranking of the 400 richest Americans based on public records of their holdings and assets, says the US President slipped from 544th richest last year to 766th this year.

His overall wealth is believed to have decreased by over half a billion dollars. It's the second year in a row Mr Trump's wealth has fallen down the rankings.

His slide has been fuelled by declining values of his high-end Manhattan real estate holdings, Forbes reported, along with the cost of litigation and his presidential campaign.

Amazon boss Jeff Bezos is now officially the richest person on the planet, with a US$112 billion (NZ$154 billion) fortune.

He knocks Microsoft founder Bill Gates from the top spot - a feat that's happened only six times since 1995.

The Forbes rich list.
The Forbes rich list. Photo credit: Forbes


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