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Forbes: Trump's net worth declines by $800 million in one year

The magazine estimated his net worth is $3.7 billion, recording a loss of $800 million from last year. Photograph: (Getty)

WION Washington, United States Sep 29, 2016, 03.13 PM (IST)

Forbes magazine on Wednesday reported a loss of $800 million in US Republican presidential candidate Donald Trump's net worth. 

The magazine estimated his net worth is $3.7 billion, recording a loss from last year. 

After probing 28 assets or asset classes owned by the New York businessman, the magazine found 18 had declined in value, including the iconic Trump Tower in Manhattan and his Mar-a-Lago club in Palm Beach, Florida. The value of his Wall Street property in downtown New York also dropped. 

Forbes attributed the drop in value largely to New York's softening real estate market. 

The report showed seven of his assets noted an increase in their value, including 555 California Street, the second tallest building in San Francisco.

As tradition holds, the US presidential candidate has not publicly released his tax returns. The magazine disputed Trump's assertion in Monday night's first presidential debate that he had reported $694 million in income from last year to the Federal Election Commission. 

According to his Democratic rival and former secretary of state Hillary Clinton's tax records, she earned $10.75 million in 2015 alongside her husband, former US President Bill Clinton.

Clinton, along with several prominent Republicans, has pressed Trump to release his tax returns. They have also raised questions about his net worth as well as his charitable contributions and business ties. 

(WION with inputs from agencies)
 

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