Donald Trump drops 92 places in the Forbes rich list

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Trump now sits at spot No. 248 on the list, after coming in a year ago at No. 156. Richard DeVos' net worth is valued at $5.1 billion and is ranked No. 107 on this year's list.

Forbes' list is once again topped by Microsoft co-founder Bill Gates with a net worth of $89bn, followed by Amazon's Jeff Bezos and Berkshire Hathaway's Warren Buffett. His fortune increased $15.5 billion - the biggest gainer in terms of dollars on the list, according to the magazine.

No. 10: Sergey Brin from Google, $43.4 billion.

To determine the ranking, Forbes took into account stakes in public and private companies, real estate holdings, and other assets including art, jewelry, cars, and planes.

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Forbes said 289 people on the list saw their fortunes increase in the past year, while 51 billionaires saw their net worth decrease.

"The minimum net worth to make the Forbes list of 400 wealthiest Americans is now a record $2 billion", said Luisa Kroll and Kerry Dolan, assistant managing editors of wealth at Forbes Media. He was no. 156 past year. It says the value of luxury real estate is down, especially around Fifth Avenue.

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.