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US President Donald Trump's net worth slid by 600 million US dollars to 3.1 billion US dollars, according to the Forbes list of the 400 richest Americans released on Tuesday.
Trump ranks 248 on the billionaires list this year, dropping 92 spots after coming in at 156 last year.
The president is now tied with 27-year-old Snap co-founder and CEO Evan Spiegel, the youngest person on the list.
The magazine attributed Trump's decline to “a tough New York real estate market, particularly for retail locations; a costly lawsuit and an expensive presidential campaign.”
Bill Gates speaking at the Bill and Melinda Gates Foundation 2017 Goalkeepers event at the Lincoln Center in New York.
Microsoft co-founder Bill Gates topped the list for the 24th consecutive year with a net worth estimated at 89 billion US dollars.
Amazon founder and CEO Jeff Bezos, worth 81.5 billion US dollars, held on to the second spot, followed by Warren Buffett and Facebook's Mark Zuckerberg.
According to Forbes, the combined net worth of the 400 billionaires totaled a record-breaking 2.7 trillion US dollars, up from 2.4 trillion US dollars in 2016.
It also takes a record 2 billion US dollars to enter this year's list, a nearly 18 percent rise from last year.
(ASIA PACIFIC DAILY)
