Moscow: United States President Donald Trump has gone down 138 places in the Forbes 400 list of richest Americans since 2015 due to his declining net worth, affected by his Presidential term, the controversies around his politics as well as economic tendencies, the business magazine said on Wednesday as it released its new ranking.
The President sits at the 259th place in the fresh ranking, while in 2015 he occupied the 121st spot. During this time, Trump’s personal wealth fell from USD 4.5 billion to USD 3.1 billion, according to the magazine.
Not only was his personal brand affecting his business, which mainly includes the development and management of real estate, but the commercial spaces that he owned were losing their worth and tenants due to the rise of e-commerce, Forbes said in a special investigation released on Tuesday.
In January, a poll by Morning Consult revealed that the global hotel chain bearing Trump’s name leads a list of the 30 most polarising US commercial brand names.