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Forbes 400 List: 10 Richest People in America for 2017

18 October 2017, 12:32 | Sammy Green

Donald Trump drops 92 places in the Forbes rich list

Trump's fortune drops to $3.1 billion, ties Snap's Evan Spiegel on new Forbes 400 rich list

"A tough NY real estate market, a costly lawsuit and an expensive presidential campaign all contributed to the declining fortune of the 45th president", Forbes said.

The Trump Organisation did not respond to a request for comment by time of publication. 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. Some of the golf courses owned by his family-run Trump Organisation have lost value.

The drop comes from a decline in Trump's net worth, according to Forbes.

However, the new Forbes rankings also delivered some good news for Trump.

The latest annual ranking of the 400 richest Americans billionaires on Forbes' 2017, showcases a record-breaking, combined total net worth of $2.7 trillion, up from $2.4 trillion in 2016.

This is the 36th year of the flagship Forbes 400. Twenty-six people dropped off from past year, including US Commerce Secretary Wilbur Ross. The findings show that 84 percent of Forbes 400 members have a four-year bachelor's degree versus only 33 percent of Americans adults overall; 72 of these billionaires have done their MBAs, while another 45 are college dropouts.

Numerous top winners in the magazine's new wealth rankings are familiar to most Americans.

Meanwhile, Bill Gates placed first on Forbes' list for the 24th consecutive year, with a current net worth of $89 billion. And famed financial investor and businessman Warren Buffett ranked third, with an estimated $US80.6 billion fortune.

Amazon co-founder and CEO Jeff Bezos placed second after his fortune jumped $14.5 billion to $81.5 billion.

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