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The rich get...poorer? Trump, at $3.5 billion, has seen wealth decline since election

President Donald Trump steps off Air Force One upon arrival at Andrews Air Force Base in Maryland on March 19, 2017, after spending the weekend at his Mar-a-Lago estate in Florida.
Mandel Ngan | AFP | Getty Images
President Donald Trump steps off Air Force One upon arrival at Andrews Air Force Base in Maryland on March 19, 2017, after spending the weekend at his Mar-a-Lago estate in Florida.

Donald Trump has gotten poorer since his election, according to a recent assessment by Forbes.

The magazine estimates his net worth at $3.5 billion, down from $3.7 billion in October last year and lower than an all-time high of $4.5 billion in 2015 and 2016.

Most of the president's wealth is tied up in Manhattan real estate no more than a mile away from Trump Tower, and "what happens in that micromarket does more to affect the net worth of Donald Trump than anything else in the world," Forbes writes.

With $66 million of his own money donated to his presidential campaign in addition to $25 million to settle a lawsuit over Trump University, the president's liquid assets might be on the decline as well, according to Forbes. But Trump's gold-trimmed building on 40 Wall Street, plus a worldwide hotel business booming on the success of the Trump brand name, might help increase the magnate's personal value.

Forbes also lists the president's spec sheet: 70 years old, a married U.S. citizen and sporting a "self-made" score of 5 ("inherited small or medium-size business and made it into a ten-digit fortune," Forbes writes). Still, there's always someone at the top: Forbes ranks Vladimir Putin as the world's most powerful person — for the fourth year in a row.