(MENAFN) President Donald Trump's ranking in the Forbes list of wealthiest Americans has dropped, with the value of some of his Manhattan real estate holdings recently declining.
Forbes ranked the first billionaire president as the 248th-wealthiest person in America and put his wealth at $US3.1 billion. The year before, he was ranked 156th and Forbes said he was worth $US3.7 billion.
As a candidate, Trump said his net worth was more than $US10 billion, but Forbes pegged that figure at $US4.5 billion in September 2015. By Forbes' estimates, Trump's wealth has fallen 31 per cent in two years.
According to Forbes, half of Trump's wealth comes from New York City real estate. It says the value of luxury real estate is down, especially around Fifth Avenue. That sharply reduced the value of Trump Tower and other properties Trump owns or has stakes in.
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