CANADA BUSINESS

Donald Trump's Forbes 400 List Ranking Took Just Took A Major Slide

05/10/2016 11:05 AM AEDT | Updated 05/10/2016 3:00 PM AEDT
NEW! HIGHLIGHT AND SHARE
Highlight text to share via Facebook and Twitter

Presidential candidate Donald Trump can still call himself one of America's richest people.

He just doesn't rank in the top 25 per cent — and he didn't last year, either.

Forbes released its list of America's 400 richest people on Tuesday, and Trump came in at number 156 — down 35 spots from 2015.

donald trump

Donald Trump. (Photo: Lucas Jackson/Reuters)

The businessman's fortune was estimated at $3.7 billion this year, for a drop of $800 million. That's being blamed on cooling property values in New York.

Earlier this year, CNBC reported that the Big Apple was facing a potential glut of commercial real estate, with market capitalization rates — which measure an asset's net operating income as a percentage of its value — reaching historic lows.

New York is also facing an oversupply of hotel rooms, with as many as 20,000 about to be added to the market, the network added.

Combine this with apartment sales falling to their lowest levels since 2009, and you have a picture of a slacking real estate market that hurts The Donald's net worth.

donald trump

Donald Trump holds a rally with supporters in Iowa on Sept. 28. (Photo: Jonathan Ernst/Reuters)

Of course, this isn't the only time Trump's lost a lot of money.

On Saturday, The New York Times reported on his 1995 tax return, which showed that that he'd lost $916 million.

That loss that could have helped him avoid paying any income taxes for 18 years, the newspaper said.

Trump had previously said you "don't learn that much" from tax returns.

bill gates

Bill Gates. (Photo: Joshua Roberts/Reuters)

Bill Gates topped Forbes' list with year with his wealth of $81 billion. He was followed by Amazon's Jeff Bezos, who's worth $67 billion, and Berkshire Hathaway's Warren Buffett, who's worth $65.5 billion.

Facebook's Mark Zuckerberg and Oracle's Larry Ellison rounded out the top five, with $55.5 billion and $49.3 billion to their names, respectively.

Like Us On Facebook

More On This Topic

Advertisement
Advertisement