Donald Trump has been trumpeting the gains the stock market has seen since he became the 45th president, but his own wallet took a big hit the last year.
A total of $600 million to be exact.
As a result, Trump dropped from 156th place in 2016 on Forbes magazine’s annual list of the wealthiest 400 Americans to 248th this year, in rankings released Tuesday. His net worth fell from $3.7 billion to $3.1 billion.
A drop in the number of visitors at some of his golf clubs and resorts, declines in real estate prices and the settlement of the fraud lawsuit against Trump University all contributed to the decline, Forbes said.
Meanwhile, another man with strong Hudson Valley ties, Facebook founder Mark Zuckerberg moved up to No. 4 in the Forbes 400, with a net worth of $71 billion, up $15.5 billion from a year ago. The White Plains native, Ardsley High School graduate and former Dobbs Ferry resident was ranked No. 6 by Forbes in 2016.
Former New York City Mayor and North Salem homeowner Michael Bloomberg was ranked eighth overall for the second year in a row with a net worth of $46.8 billion, up $1.8 from last year.
Bedford's George Soros moved up to No. 20 with a net worth of $23 billion. He was ranked 23rd in 2016.
Microsoft founder Bill Gates ranked No. 1 overall in Forbes' ranking, follow by Amazon owner Jeff Bezos.
Trump, who owns the Seven Springs estate in Bedford, also owns Trump National Golf Club Hudson Valley in Stormville and Trump National Westchester in Briarcliff Manor.
The Trump name also adorns Trump Tower At City Center in White Plains, Trump Plaza in New Rochelle, Trump Park Residences in Yorktown and the Donald J. Trump State Park on the Westchester/Putnam border.
Click here to follow Daily Voice Armonk and receive free news updates.