Benson ranks No. 288 on 'Forbes' list of wealthiest Americans

7 Michiganders make 2017 Forbes list of '400 richest Americans'

Trump spent $US66 million on his presidential campaign and $US25 million to settle a lawsuit regarding his Trump University, which offered a course in real estate investing that NY state authorities alleged was fraudulent.

Trump's business empire continued to run despite his ascendancy to the White House after he beat Hillary Clinton in the 2016 elections.

President Donald Trump came in at number 248 as he's down $600 million to a net worth of $3.1 billion as the NY retail and office real estate market has suffered a dip.

Where did the Trump net worth see the biggest losses?

The magazine said Trump spent $66 million on his presidential campaign, and $25 million settling a lawsuit regarding Trump University. Some of the golf courses owned by his family-run Trump Organisation have lost value.

However, the new Forbes rankings also delivered some good news for Trump. According to the publication, the bulk of Trump's fortune is "tied up in a half-dozen buildings in and around midtown Manhattan in New York City, where luxury real estate values have fallen recently".

This is the 36th year of the flagship Forbes 400. That's down from $3.7 billion one year ago, and down from $4.5 billion the year before that.

The magazine in explaining it got the details, said it continues to get more information by digging deeper on all the properties.

Microsoft co-founder Bill Gates topped the list for a 24th consecutive year with a net worth estimated at 89 billion dollars. 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).

Donald Trump has dropped 92 places in the Forbes list of wealthiest Americans, with the magazine putting his wealth at $3.1bn, down from $3.7bn previous year.

He ranks just ahead of Amazon's Jeff Bezos, who is valued at $81.5bn.

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