President Donald Trump dropped 92 spots on Forbes’ “Richest Americans” list, the publication said Tuesday.
According to Forbes, which called Trump “the most notable loser” on the list, the President’s net worth fell $600 million since last year, down to $3.1 billion. He dropped from No. 156 on the list to No. 248.
Forbes’ Dan Alexander and Matt Drange reported: “A tough New York real estate market, a costly lawsuit and an expensive presidential campaign all contributed to the declining fortune of the 45th President.”
The publication said it based its estimation of Trump’s wealth on “months” of digging through financial and property records, and on “dozens” of interviews.
During the 2016 campaign (and well before it) Trump frequently advertised his net worth as a qualification for the presidency.
But he’s also admitted that his own estimation of his net worth fluctuates based on how he feels on a given day.
“My net worth fluctuates, and it goes up and down with the markets and with attitudes and with feelings, even my own feelings,” he said in a 2007 deposition, part of a lawsuit he filed against a reporter who wrote that Trump wasn’t a billionaire.
Trump added, when asked how he estimated his net worth: “I would say it’s my general attitude at the time that the question may be asked. And as I say, it varies.”
He said later in the deposition, referring to anticipated profits from his golf courses: “I’ve done mental projections.”