Trump's net worth drops $600 million on Forbes list of richest Americans

Forbes 400 List: Combined net worth of America's richest rises to $2.7 trillion

Trump's fortune falls $600 million on Forbes list

According to Forbes, it now requires $2 billion to make the list, a almost 18 percent jump from past year.

As a candidate, Trump said his net worth was more than $10bn, but Forbes pegged that figure at $4.5bn in September 2015.

America's richest may be getting richer but President Donald Trump's fortune has slid by $600 million to $3.1 billion, according to a list of 400 billionaires released by Forbes magazine on Tuesday.

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Forbes now ranks Trump as the 248th richest person in the USA, down from 156 in 2016. 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.

The biggest contributing factor to Trump's declining fortune was his real estate holdings, much of which is in New York City. By Forbes' estimates, Trump's wealth has fallen 31% in two years. That's enough to rank the Chevy Chase, Maryland resident at No. 122 on Forbes list.

The new Forbes report also reveals the bar has never been set higher for being ranked among the 400 richest Americans.

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Trump has tweeted about the Forbes 400 list before, including once in 2014 when he retweeted and commented on a person's tweet that claimed that Forbes underestimates Trump's actual net worth.

Bill Gates topped the list for the 24th consecutive year. The three co-founders of the Carlyle Group each have an estimated net worth of $2.9 billion. Warren Buffet, Mark Zuckerberg, Larry Ellison, Michael Bloomberg, Charles Koch, David Koch, Larry Page and Sergey Brin round out the top ten. There were 169 billionaires who did not make the cut.

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