- Forbes released its annual World’s Billionaires list on Tuesday.
- President Donald Trump came in at 715 on the list, up 51 spots from the 2018 list.
- Trump had dropped more than 200 spots between appearances on the 2017 list and the 2018 list.
- Trump’s estimated net worth was unchanged at $3.1 billion.
President Donald Trump jumped 51 spots in its latest edition of Forbes’ annual World’s Billionaires list, despite the president’s net worth not budging.
The 2019 Forbes list ranks Trump at 715, up from 766 on 2018’s list. According to the magazine, Trump’s net worth did not budge from last year — remaining at $3.1 billion — but a decline in the overall number and net worth of billionaires helped push the president up the list.
The jump also comes a year after Trump fell more than 200 spots between 2017 and 2018 due to a decline in the value of the president’s real estate portfolio and a drop in revenue at his golf club properties.
According to Forbes, Trump is the first billionaire to be president in US history.
Jonathan Greenberg, the author of the original Forbes 400 list, alleged in August that Trump gave Forbes false information in the early years of the list to inflate the then-real estate mogul’s net worth. Greenberg said Trump even used an alter ego in 1984 in an attempt to get the magazine to boost his worth even more.
Decades later, around the time time of Trump’s presidential announcement in 2015, the then-candidate claimed to be worth around $9 billion — more than double the $4.1 billion net worth that Forbes estimated at the time.
Michael Cohen, Trumps’ former layer and fixer, also testified to Congress last week that the president attempted to inflate his worth to Forbes.
"It was my experience that Mr. Trump inflated his total assets when it served his purposes, such as trying to be listed among the wealthiest people in Forbes, and deflated his assets to reduce his real estate taxes," Cohen said in his prepared testimony.
Forbes reported that Cohen was among the Trump associates who met with writers at the magazine about the net worth ranking in 2012 and the former Trump lawyer called Forbes about the ranking again in 2015.
As for the 2019 list, Trump ranks well behind the wealthiest man on the list — and frequent target of the president’s ire — Jeff Bezos. Forbes estimated the Amazon CEO is worth $131 billion, roughly 42 times the net worth of the president.
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Source: Business Insider – bbryan@businessinsider.com (Bob Bryan)