Republican candidate for the office of the President of the United States, Donald Trump has suffered another blow this time in the area of his finances.
The American businessman who used to be really high up the Forbes list of richest men in America has suffered a sharp decline. It is believed that his spending on the campaign is a big reason behind his decline.
According to the magazine, Trump suffered a loss of $800m dropping his down 35 spots. He used to be worth $4.5bn but is now worth $3.7bn. He is now number 156 on the list of the richest Americans.
According to Forbes; “A softening of New York City’s real estate market, particularly in retail and office, where valuations are trending down, has diminished his estimated net worth,”
He is believed to have spent $7 million on his campaign and loaned the campaign an additional $48 million, which he is unlikely to get back.
To make matters worse, immigrants, whom Trump has been against, were abundant on the list with as many as 42 making Forbes list this year.
Bill Gates remains top of the pile, a position he has held for 23 years straight and doesn’t look like he’d be giving up anytime soon.