Trump's fortune falls $600 million on Forbes list

Andrew Cummings
October 17, 2017

Forbes used closing stock prices from September 22, 2017, to compile the Forbes 400 list.

Specifically, "a tough NY real estate market, particularly for retail locations; a costly lawsuit and an expensive presidential campaign".

Signaling an overall improvement in the fortunes of American entrepreneurs, 289 members of Forbes 400 witnessed an increase in their net worth, compared to 187 in 2016.

Forbes features Trump on the cover of its special "400 riches people in America" issue.

Larry Page, who went to Michigan State University and is involved with Google, is 9th on the list worth $38.5 billion.

With a net worth of $89 billion, Microsoft founder and philanthropist Bill Gates tops the list for the 24th consecutive year. Warren Buffett and Facebook founder Mark Zuckerberg held their respective third and fourth slots. But that left him in fourth place on the list once again. The cost of admission to the Forbes 400 list hit a record-high of $2 billion in 2017, up from $1.7 billion in 2015 and 2016.

Steve Ballmer, who grew up in Farmington Hills, is 15th on the list worth $33.6 billion.

Trump's, whose wealth has been tracked by Forbes since 1982, shares his spot on the list with the 27-year-old Evan Spiegel, co-founder and CEO of the parent of Snapchat, and the youngest person included.

Last year, his net worth was estimated at $7.5 billion and he was 57th on the list.

Several people with ties to MI are on Forbes' list of the most wealthiest people in America.

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