Published: Tue, October 17, 2017
Money | By Armando Alvarado

Again Illinois' richest person, Ken Griffin increases fortune by $1 billion

Again Illinois' richest person, Ken Griffin increases fortune by $1 billion

Donald Trump, whose business empire has continued to operate alongside his presidency, has fallen close to 100 places in a prestigious ranking of America's wealthiest people.

With a net worth of $8.5 billion, an increase of $1 billion from previous year, the founder of hedge fund Citadel defended his title as Illinois' richest person on the 36th annual Forbes 400 ranking of the richest Americans, released Tuesday.

Trump ranked No. 156 in 2016.

This is even as Forbes magazine's in its latest estimate cuts Trump's net worth by $600m in the NY property market.

The Forbes list of 400 richest Americans shows that the billionaire-in-chief's fortune fell by $600 million to $3.1 billion. Amazon's Jeff Bezos, who also owns The Washington Post, took the second spot for the second year, with a fortune of $81.5 billion. Warren Buffett and Facebook founder Mark Zuckerberg held their respective third and fourth slots.

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But overall the richest Americans are richer than they were a year ago. Trump tied with 27-year-old Snapchat co-founder Evan Spiegel.

The president has claimed he is worth $10 billion.

A total of 169 billionaires were not rich enough to make the list.

Trump did not campaign with the magazine in an effort to boost his ranking as he's done in years past, Luisa Kroll, Forbes magazine senior wealth editor, told CNBC. All members of the 2017 Forbes 400 have a net worth of at least $2 billion, which is 18% higher than the $1.7 billion minimum required in 2016.

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