US President Donald Trump may be the best-known billionaire in the world, but he ranked only 275th among the richest Americans in 2019, according to Forbes. This modest ranking is 16 lower than last year, and 119 lower than before Trump became president. This is because the 'Trump' brand name has suffered; businesses where his name is present suffer losses, prompting developers to refuse to name construction projects after the current US president, according to the publication.
In August, Trump said that after winning the election he spent several billion dollars on lawyers. According to him, he had to pay for a number of lawsuits. At the same time, he emphasised that he was rich enough, and did not pay attention to such expenses, because the main thing for him was to do an excellent job every day.
Earlier, the US commander in chief said that his fortune exceeds 10 billion dollars. In May 2018, Bloomberg estimated that Trump’s fortune had declined by $100 million over the year to $2.8 billion. This was specifically due to a drop in demand for rental space in the Trump Tower and Niketown buildings and a decrease in revenues from his golf courses.
Two months earlier, Forbes said that during the first year of his presidency, Trump’s fortune decreased by $400 million, to $3.1 billion.