Donald Trump plunges on Forbes 400 rich list after losing estimated $840 million

United States President Donald Trump has plunged 92 places on Forbes magazine's annual list of wealthiest Americans (known as the Forbes 400) after his wallet took a US$600 million ($836m) hit in the last year.

The president's net worth fell from US$3.7 billion to US$3.1b ($5.1b to $4.3b), Forbes reported, saying it arrived at the figure after "months of digging through financial disclosures and public property records and conducting dozens of interviews."

This was enough to see Trump fall from 156th place in 2016, to 248th on 'America's richest' list.

The New York Post reported that declines in real estate prices, the settlement of the fraud lawsuit against Trump University and declining numbers of visitors at some of his golf resorts all contributed to the drop-off.

Trump's real estate portfolio, which includes many properties in New York City, took the biggest hit, with the drop in value at some of his Manhattan properties, especially those on or close to Fifth Avenue, costing him almost US$400m ($557m).

His golf courses in Miami, Ireland and Scotland experienced the biggest drop off in visitors.

Trump's cash on hand was also down to about US$100m ($139m) since 2016 after he spent US$66m ($92m) on his succesful election campaign, and a further US$25m ($34m) settling a lawsuit over Trump University.

Despite the overall losses, some of Trump's properties rose in value over the past year, including a downtown San Francisco office building and a hotel-condo tower in Las Vegas that he owns with fellow Forbes 400 member Phil Ruffin.

This article originally appeared in the New York Post.