Slides on Forbes billionaires list 2018
US President Donald Trump has tumbled 222 places on the Forbes annual Rich List 2018, after his estimated worth of $3.5bn (£2.5bn) fell to $3.1bn, partly because of “a tough New York real estate market, particularly for retail locations; a costly lawsuit and an expensive presidential campaign”.
According to the magazine, Trump’s wealth has tumbled about $400m since he became the President.
While Trump Tower— the President’s Fifth Ave. home— lost an estimated $41m in value last year, another property on 57th St. is losing Nike, its longtime anchor tenant, according to Forbes.
Meanwhile, the leading UK entry on Forbes list is the Hinduja family, whose business empire is worth $19.5bn and stands 55th on the global list.
The Hindujas are followed by James Ratcliffe, who controls chemicals group Ineos and is reportedly worth $16.4bn.