Trump is $1B ‘poorer’ in latest Forbes ranking

Trump is $1B ‘poorer’ in latest Forbes ranking
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President TrumpDonald John TrumpRand's reversal advances Pompeo New allegations could threaten Trump VA pick: reports President Trump puts on the pageantry for Macron’s visit MORE’s net worth has decreased by $1 billion since last March, according to Forbes’s list of the world’s billionaires released Monday.

The magazine calculates the president’s net worth at $3.5 billion, putting him at No. 544 on its list of billionaires. Last year, Trump’s net worth was estimated by the magazine to be $4.5 billion, placing him at No. 336 on the list.

Forbes notes that Trump is the first billionaire president in U.S. history and said “the business that made him rich remains intact.”

Trump’s adult sons, Eric and Donald Jr., run the day-to-day operations of his business empire and “have promised to separate the Trump Organization from the Trump presidency,” though the magazine notes that “it's unclear whether that is actually happening.”

Eric Trump told Forbes he will update his father on the family business’s financials "probably quarterly." 

Trump announced last January he would hand control of his business empire to Eric and Donald Trump Jr.

The president also placed his assets in a blind trust aimed at avoiding conflicts of interest. 

Sheri Dillon, Donald Trump's attorney, said during a Jan. 11 press conference that all of the president's assets would remain in the trust for his entire presidency.
The lawyer noted the assets included Trump's cash holdings and real estate properties.
Dillon added Trump agreed to limit the information he receives about his assets to total profit and loss statements only.
— Updated 9:11 p.m.