Trump's fortune shrinks with $600M loss in past year

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

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

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".

According to Forbes, the White House did not immediately respond to a request for comment on Trump's ranking.

Trump now sits at spot No. 248 on the list, after coming in past year at No. 156.

The reduction in Trump's cash holdings also was the result of a $25 million payment Trump made to settle a lawsuit over Trump University.

Trump had a silver covering, seeing an uptick in resources at his lodging apartment suite tower in Las Vegas and his stake in a downtown San Francisco office building, Forbes said.

$10 million reward for 'dirt' on Donald Trump
He defended offering money for information, saying "just because you pay for it does not mean it's not any good". This is not the first time Mr Flynt has offered a monetary reward for information to dethrone a politician.

Trump's New York City real estate is worth $1.6 billion, his real estate elsewhere amounts to $500 million, his golf courses and clubs are worth $570 million, his brand businesses are worth $200 million, and his cash and personal assets are estimated at $290 million, according to Forbes.

The Forbes 400 list features the wealthiest billionaires in the U.S., but not every American with three commas in their net worth made the cut. The magazine has listed Trump among the 400 richest Americans since it began publishing its ranking in 1982. Twenty-six people dropped off from previous year, including US Commerce Secretary Wilbur Ross. Buffett came in at No. 3 this year, at $78 billion.

Ross told the magazine he had shifted billions to trusts for his relatives, Forbes reported. Warren Buffet, Mark Zuckerberg, Larry Ellison, Michael Bloomberg, Charles Koch, David Koch, Larry Page and Sergey Brin round out the top ten.

He ranks just ahead of Amazon's Jeff Bezos, who is valued at $81.5bn.

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