President Trump's worth has plunged $400 million since taking office

Entering politics has had an ill effect on President Trump’s purse.

Trump’s worth tumbled about $400 million — down to an estimated $3.1 billion — since he taking up residence in the White House, according to Forbes annual list of world billionaires.

It’s the second year in a row the President has taken a tumble on the elite ranking of the richest of the rich.

Forbes estimated that Trump lost around $1 billion in net worth in its 2017 ranking.

Trump, who was in 544th place last year, dropped to the 766th spot in the latest list.

RELATED: President Trump's January 2018 approval ratings by state

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President Trump's January 2018 approval ratings by state
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President Trump's January 2018 approval ratings by state

Alabama - 63 percent

Source: Morning Consult

Alaska - 48 percent

Source: Morning Consult

Arkansas - 53 percent

Source: Morning Consult

Arizona - 53 percent

Source: Morning Consult

Connecticut - 39 percent

Source: Morning Consult

California - 36 percent

Source: Morning Consult

Colorado - 41 percent

Source: Morning Consult

Delaware - 41 percent

Source: Morning Consult

Delaware - 50 percent

Source: Morning Consult

Delaware - 41 percent

Source: Morning Consult

Hawaii - 30 percent

Source: Morning Consult

Iowa - 43 percent

Source: Morning Consult

Illinois - 37 percent

Source: Morning Consult

Idaho - 53 percent

Source: Morning Consult

Indiana - 53 percent

Source: Morning Consult

Kansas - 50 percent

Source: Morning Consult

Kentucky - 55 percent

Source: Morning Consult

Louisiana - 57 percent

Source: Morning Consult

Maine - 40 percent

Source: Morning Consult

Massachusetts - 32 percent

Source: Morning Consult

Michigan - 42 percent

Source: Morning Consult

Minnesota - 41 percent

Source: Morning Consult

Mississippi - 42 percent

Source: Morning Consult

Missouri - 42 percent

Source: Morning Consult

Montana - 41 percent

Source: Morning Consult

Nebraska - 51 percent

Source: Morning Consult

Nevada - 47 percent

Source: Morning Consult

New Hampshire - 43 percent

Source: Morning Consult

New Jersey - 40 percent

Source: Morning Consult

New Mexico - 38 percent

Source: Morning Consult

New York - 39 percent

Source: Morning Consult

North Dakota - 53 percent

Source: Morning Consult

Ohio - 46 percent

Source: Morning Consult

Oklahoma - 55 percent

Source: Morning Consult

Oregon - 37 percent

Source: Morning Consult

Pennsylvania - 46 percent

Source: Morning Consult

Rhode Island - 37 percent

Source: Morning Consult

South Carolina - 51 percent

Source: Morning Consult

South Dakota - 53 percent

Source: Morning Consult

Tennessee - 56 percent

Source: Morning Consult

Texas - 51 percent

Source: Morning Consult

Utah - 46 percent

Source: Morning Consult

Vermont - 30 percent

Source: Morning Consult

Virginia - 45 percent

Source: Morning Consult

Washington - 36 percent

Source: Morning Consult

West Virginia - 59 percent

Source: Morning Consult

Wisconsin - 42 percent

Source: Morning Consult

Wyoming - 60 percent

Source: Morning Consult

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The magazine attributed Trump’s decline in wealth to “a tough New York real estate market, particularly for retail locations; a costly lawsuit and an expensive presidential campaign.”

Trump Tower, the President’s Fifth Ave. home and namesake high-rise, lost an estimated $41 million in value last year, according to Forbes.

Another property on 57th St. is losing Nike, its longtime anchor tenant.

“I don’t know of any tenants that need that much space other than department stores,” Manhattan real estate broker Eric Anton told Forbes. “And I don’t think there are any expanding department stores.”

Trump also reached a $25 million settlement following a trio of lawsuits that alleged his Trump University real estate courses defrauded students.

Trump lashed out at Forbes in 2015 when the magazine estimated he was worth about $4.5 billion, and he put his own value in the $10 billion range.

RELATED: Forbes 9 richest people in America, 2017

9 PHOTOS
Forbes 9 richest people in America, 2017
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Forbes 9 richest people in America, 2017

Larry Page: $44.6 billion

Source of wealth: Google

Age: 44

Residence: Palo Alto, California

Read more on Forbes

Michael Bloomberg: $46.8 billion

Source of wealth: Bloomberg LP

Age: 75

Residence: New York, New York

Read more on Forbes

6. David Koch: $48.5 billion

Source of wealth: Diversified

Age: 77

Residence: New York, New York

Read more on Forbes

6. Charles Koch: $48.5 billion

Source of wealth: Diversified

Age: 81

Residence: Wichita, Kansas

Read more on Forbe

5. Larry Ellison: $59 billion

Source of wealth: Software

Age: 73

Residence: Woodside, California

Read more on Forbes

4. Mark Zuckerberg: $71 billion

Source of wealth: Facebook

Age: 33

Residence: Palo Alto, California

Read more on Forbes

3. Warren Buffett: $78 billion

Source of wealth: Berkshire Hathaway

Age: 87

Residence: Omaha, Nebraska

Read more on Forbes

2. Jeff Bezos: $81.5 billion

Source of wealth: Amazon.com

Age: 53

Residence: Seattle, Washington

Read more on Forbes

1. Bill Gates: $89 billion

Source of wealth: Microsoft

Age: 61

Residence: Medina, Washington

Read more on Forbes

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“All I can say is Forbes is a bankrupt magazine, doesn't know what they're talking about,” Trump said at the time.

But Trump fared better in Forbes’s ranking than in Bloomberg’s billionaires list, which put his net worth at $2.86 billion.

Amazon chief Jeff Bezos seized the top position on the Forbes list this year for the first time with his $112 billion fortune, jumping up from the third spot last year.

The top ten includes Facebook founder Mark Zuckerberg, investor Warren Buffett, conservative funders David and Charles Koch and Microsoft’s Bill Gates came in second place, dropping from first last year.

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