Trump's Fortune plummets $600 Million to $3.1 Billion — Forbes List

Twenty-six people dropped off from previous year, including US Commerce Secretary Wilbur Ross. The lawsuit in question is the suit concerning Trump University, for which Trump settled for $25 million over claims that the seminars defrauded students who signed up for the university.

But overall the richest Americans are richer than they were a year ago.

"His net worth now stands at $3.1 billion". Amazon's Jeff Bezos, worth $81.5 billion retains the No 2 spot for the second consecutive year, the magazine reported. The magazine estimates there are 169 billionaires who were too "poor" to make the cut, including Facebook Chief Operating Officer Sheryl Sandberg. Warren Buffett, remains No. 3 with a fortune worth $78 billion. The cost of admission to the Forbes 400 list hit a record-high of $2 billion in 2017, up from $1.7 billion in 2015 and 2016. But that left him in fourth place on the list once again.

The list from the magazine, which ranks the top 400 richest Americans, saw Trump fall 92 places to 248th, with his total wealth down $600m in comparison with past year.

Trump ranked No. 156 in 2016.

Several people with ties to MI are on Forbes' list of the most wealthiest people in America. That comes out to an average net worth of $6.75 billion for those on the list.

Trump did not campaign with the magazine in an effort to boost his ranking as he's done in years past, Luisa Kroll, Forbes magazine senior wealth editor, told CNBC.

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