Trump is $1B ‘poorer’ in latest Forbes ranking

President Trump’s net worth has decreased by $1 billion since last March, according to Forbes’s list of the world’s billionaires released Monday.

The magazine calculates the president’s net worth at $3.5 billion, putting him at No. 544 on its list of billionaires. Last year, Trump’s net worth was estimated by the magazine to be $4.5 billion, placing him at No. 336 on the list.

Forbes notes that Trump is the first billionaire president in U.S. history and said “the business that made him rich remains intact.”

Trump’s adult sons, Eric and Donald Jr., run the day-to-day operations of his business empire and “have promised to separate the Trump Organization from the Trump presidency,” though the magazine notes that “it’s unclear whether that is actually happening.”

{mosads}Eric Trump told Forbes he will update his father on the family business’s financials “probably quarterly.” 

Trump announced last January he would hand control of his business empire to Eric and Donald Trump Jr.

The president also placed his assets in a blind trust aimed at avoiding conflicts of interest.