Forbes, which has tracked Trump since the list's debut in 1982, said the president's faltering net worth is due to weakening in the New York City real estate market. Last year, he was ranked at 156th.
Microsoft founder Bill Gates ranked No. 1 with a net worth of $89 billion and Amazon CEO Jeff Bezos ranked No. 2 with $81.5 billion.
According to Forbes, the White House did not immediately respond to a request for comment on Trump's ranking. Warren Buffet, Mark Zuckerberg, Larry Ellison, Michael Bloomberg, Charles Koch, David Koch, Larry Page and Sergey Brin round out the top ten.
The president dropped by $600 million - and 92 spots - to No. 248 this year, to an estimated net worth of $3.1 billion, according to Forbes, which released its new list on Tuesday. Despite a $15.5 billion increase in net worth, Zuckerberg remains in No. 4, worth $71 billion. It also learned about some debt they pulled down on the Trump International Hotel, adding, "We were able to continue to find more documentation to prove our numbers and give us more comfort in them". Alice Walton, the daughter of Wal-Mart founder Sam Walton, was the highest ranked at 13.
But overall the richest Americans are richer than they were a year ago.
There were 169 billionaires who did not make the list. These include Reed Hastings of Netflix, and Bert "Tito" Beveridge of Tito's Handmade Vodka.
Forbes said it spent months digging through financial disclosure forms, public property records and interviewing dozens of people to estimate the president's net worth, which has always been a source of contention.
- Lam Research Corporation (LRCX): Overbought Stock Of Yesterday
- Prince William Reveals Prince George's Favorite Movie!
- Kashmir: Mob thrashes soldier accused of braid-chopping in Kupwara
- Japan, US agree to seek diplomatic solution to Korean Peninsula tensions
- Sachin Tendulkar wants Twitter to remove fake accounts of Arjun and Sara
- Google Maps pulls cupcake calorie counter after backlash
- JR Smith discusses his standing toward Kyrie Irving
- Roofers halt work to stand for nearby school's national anthem
- Portrait Mode Coming Soon on The Samsung Galaxy S8's Camera
- Malaysia Airlines CEO Peter Bellew to rejoin Ryanair as COO