Cost of being president: Trump's net worth drops $600 million on Forbes' list

 Cost of being president: Trump's net worth drops $600 million on Forbes' list

US President Donald Trump won the White House but lost in the annual Forbes magazine rankings of the wealthiest Americans.

The fortune of the nation's commander-in-chief shrank by $600 million, to $3.1 billion, dropping him from 156th place to 248th place in the 2017 Forbes 400 ranking, the magazine reported Tuesday.

Microsoft co-founder Bill Gates led the new Forbes 400 ranking for the 24th year in a row, with an estimated net worth of $89 billion. Amazon CEO Jeff Bezos' estimated $81.5 billion fortune kept him right behind Gates for the second consecutive year. And famed financial investor and businessman Warren Buffett ranked third with an estimated wealth total of $78 billion.

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