Donald Trump's net worth is down $800m, according to Forbes

The Republican nominee for president is down 35 spots on the Forbes 400 to a four-way tie for 156th place

It’s turning out to be an awful week for Donald Trump. The Republican nominee for president is worth some $800m less this year than he was last year, according to the Forbes 400, an annual ranking of the world’s wealthiest people.

Trump’s net worth fell from $4.5bn to $3.7bn between the 2015 and 2016 ranking. He is now tied for 156th place in the magazine’s annual wealth competition with fellow real estate developers Jerry Speyer and Igor Olenicoff, FedEx founder Frederick Smith, and Steven Spielberg, who saw his own net worth rise by about $100m. Trump is down 35 places from 2015.

His fall came as the rich got even richer. The country’s 400 richest were worth $2.4tn this year and had an average net worth of $6bn, both record highs. For the 23rd straight year, the wealthiest person on the list was Microsoft founder Bill Gates. Gates gained $5bn in the last year – his net worth has increased from $76bn to $81bn.

Amazon’s Jeff Bezos, too, gained ground: an additional $20bn makes him the second-richest person on Earth, up from the fourth-richest last year. Entrepreneur Warren Buffett’s ranking dropped second to third, though his net worth went up from $62 to $65.5bn. Mark Zuckerberg also had a good 2015: the Facebook CEO made $15.2bn between this list and the last, placing him in fourth place and knocking Oracle CEO Larry Ellison down to No 5. Former New York mayor Michael Bloomberg’s $6.4bn increase to $45bn put him up at sixth place from eighth last year. Republican financiers the Koch brothers are tied for No 7: their personal fortunes grew by only $1bn this year. Meanwhile, Pierre Omidyar, founder of the Intercept, was up $100m to $8.1bn, rising three places from #57 to #54.

Notable absences from the list included Elizabeth Holmes, the founder of the biotech startup Theranos, which is being investigated for fraud. Forbes revised Holmes’s net worth to zero from $4.5bn after investigations into Theranos’s proprietary technologies suggested the company had falsely claimed a number of scientific breakthroughs.

Holmes isn’t the only one with money troubles this year: among Trump’s woes are uncertainties in the New York City real estate market, where demand for retail and office space has become less urgent, according to the magazine.

Trump’s net worth has been a subject of much debate over the course of his presidential campaign, as his steadfast refusal to release his tax returns has kept most details of his financial dealings out of the public eye. The New York Times revealed last week that Trump had declared a $916m loss on his 1995 state tax returns; the partial returns provided to the Times by an anonymous source are the largest single disclosure of Trump’s financial dealings.

Fortune’s research into Trump’s wealth has the advantage of 35 years of research on the man – the first time Forbes published an estimate of Trump’s wealth was on its first-ever Forbes 400 in 1982, when he was worth a mere $100m. Nowadays, young Trump wouldn’t even make the list – the poorest person on the 400 is car dealership magnate Gail Miller, with $1.7bn. Even adjusted for inflation, Trump’s $100m in 1982 is “only” $249m.


Sam Thielman in New York

The GuardianTramp

Related Content

Article image
Forbes 400: Gates and Buffett on top as young bucks get served

Bill Gates heads list of America's wealthiest with $66bn – but social media titans like Mark Zuckerberg slip down rankings

Dominic Rushe in New York

19, Sep, 2012 @5:02 PM

Article image
Billionaires' club has welcomed 210 new members, Forbes rich list reports
Carlos Slim, worth $73bn, Microsoft founder Bill Gates, with $67bn and Zara tycoon Amancio Ortega are world's wealthiest

Simon Bowers

04, Mar, 2013 @8:47 PM

Article image
Silicon Valley pioneers and Michael Jordan join Forbes billionaires list
As list swells to 1,826 global billionaires, poverty charity Oxfam calls extreme inequality a ‘moral outrage’ as billions ‘go to bed hungry every night’

Rupert Neate in New York

03, Mar, 2015 @8:30 AM

Article image
Donald Trump’s wealth has fallen for second year running – Forbes
President is now worth $3.1bn, while Amazon founder Jeff Bezos is world’s richest with $112bn

Rupert NeateWealth correspondent

06, Mar, 2018 @1:43 PM

Article image
Ten billionaires reap $400bn boost to wealth during pandemic
Covid-19 pushed many into poverty but brought huge benefits for some of the wealthiest, renewing calls for fairer taxes

Rupert Neate Wealth correspondent

19, Dec, 2020 @4:00 PM

Article image
World's richest 500 see their wealth increase by $1tn this year
Ultra-rich warned of ‘strike-back’ as global inequality hits a 100-year high and billions of poorer people see their earnings stagnate

Rupert Neate Wealth correspondent

27, Dec, 2017 @3:24 PM

Article image
‘White knuckle’ week for tech titans as shares and fortunes fall
Nine of world’s 10 richest billionaires see wealth dented as rising interest rates spur sell-off of ‘stay at home’ stocks

Rupert Neate Wealth correspondent

28, Jan, 2022 @6:52 PM

Article image
MacKenzie Bezos pledges at least half her wealth to charity
Jeff Bezos’ former wife, known as world’s 22nd richest person with $36.6bn fortune, signs up to the Giving Pledge

Rupert Neate Wealth correspondent

28, May, 2019 @4:27 PM

Article image
Facebook founder Mark Zuckerberg signs up for Giving Pledge

Facebook founder Mark Zuckerberg has joined the band of billionaires who have pledged to give the majority of their wealth to charity

Dominic Rushe in New York

09, Dec, 2010 @4:39 PM

Article image
Jeff Bezos: world's richest man finally tops list of biggest donors
Bezos, who holds Amazon stock valued at about $137bn, contributed a total of $2bn in 2018

Edward Helmore

26, Feb, 2019 @11:00 AM