Combined net worth of America's richest rises to $2.7 trillion

Marco Green
October 17, 2017

Forbes attributed Trump's decline to a weakening NY retail and office real estate market, and new information about his assets. The publication now lists his net worth at $3.1 billion. Amazon's Jeff Bezos, worth $81.5 billion, retains the No. 2 spot for the second consecutive year.

The exclusive and expensive billionaires' club in the U.S., the Forbes 400, a ranking of the 400 richest people in America, got even pricier this year.

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.

Last year, the president ranked No. 156 with a net worth of $3.7 billion. The other billionaires that constitute the top five in this list include Berkshire Hathaway's Warren Buffett ($78 billion), Facebook founder Mark Zuckerberg ($71 billion) and Oracle's Larry Ellison ($59 billion).

She said the Forbes reporters "continue to get more information and dig deeper on all the properties".

Steve Ballmer, who grew up in Farmington Hills, is 15th on the list worth $33.6 billion. We also learned about some debt they pulled down on [the Trump International Hotel]. Alice Walton, the daughter of Wal-Mart founder Sam Walton, was the highest ranked at 13.

There were 169 billionaires who did not make the list.

There were 22 newcomers, including Netflix cofounder and CEO Reed Hastings.

Forbes said it spent months digging through financial disclosure forms, public property records and interviewing dozens of people to estimate the president's net worth, which has always been a source of contention.

Other reports by Click Lancashire

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