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Trump loses big in Forbes' richest Americans list

Photo: Alex Brandon / AP

President Trump's net worth has fallen by $600 million over the past year from $3.7 billion to $3.1 billion, according to Forbes' 400 list ranking the richest people in America. Trump, who last year was ranked as the 156th wealthiest person in the country, now falls to No. 248, tied with Snapchat founder Evan Spiegel and others.

"Most notable loser:" Forbes, which has tracked Trump's wealth since the list first debuted in 1982, called Trump this year's "most notable loser," and blamed his losses on "a tough New York real estate market...a costly lawsuit and an expensive presidential campaign."

Key quote: "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. "We'll see if he tweets today. I know he cares a lot."

The top 10 members of America's most exclusive club:

1. Microsoft's Bill Gates is ranked at the top for the 24th-consecutive year, with a net worth of $89 billion in 2017.2. Amazon's Jeff Bezos is second for the second-consecutive year, with a net worth of $81.5 billion in 2017.3. Berkshire Hathaway's Warren Buffett is third for the second year in a row, after dropping in 2016 from his 15-year hold on the second spot. His net worth is currently $78 billion.4. Facebook's Mark Zuckerberg was Forbes' "biggest gainer," with his net worth jumping $15.5 billion to $78 billion.5. Oracle's Larry Ellison has a net worth of $59 billion. 6 & 7. Koch Industries' Charles Koch and David Koch tied. The brothers have a net worth of $48.5 billion each.8. Bloomberg's Michael Bloomberg has a net worth of $46.8 billion. 9. Google's Larry Page shows a net worth of $44.6 billion. 10. Google's Sergey Brin has a net worth: $43.4 billion.

Go deeper

Jonathan Swan
2 hours ago - Politics & Policy

Trump pressures Barr to release so-called Durham report

Bill Barr. Photo: Jabin Botsford/The Washington Post via Getty Images

President Trump and his allies are piling extreme pressure on Attorney General Bill Barr to release a report that Trump believes could hurt perceived Obama-era enemies — and view Barr's designation of John Durham as special counsel as a stall tactic, sources familiar with the conversations tell Axios.

Why it matters: Speculation over Barr's fate grew on Tuesday, with just 49 days remaining in Trump's presidency, after Barr gave an interview to the Associated Press in which he said the Justice Department has not uncovered evidence of widespread fraud that could change the election's outcome.

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Jonathan Swan, Rebecca Falconer
3 hours ago - Health

CDC to cut guidance on quarantine period for coronavirus exposure

A health care worker oversees cars as people arrive to get tested for coronavirus at a testing site in Arlington, Virginia, on Tuesday. Photo: Olivier Douliery/AFP via Getty Images

The CDC will soon shorten its guidance for quarantine periods following exposure to COVID-19, AP reported Tuesday and Axios can confirm.

Why it matters: Quarantine helps prevent the spread of the coronavirus, which can occur before a person knows they're sick or if they're infected without feeling any symptoms. The current recommended period to stay home if exposed to the virus is 14 days. The CDC plans to amend this to 10 days or seven with a negative test, an official told Axios.

  • The CDC did not immediately respond to a request for comment.
Shawna Chen
4 hours ago - Health

CDC panel: COVID vaccines should go to health workers, long-term care residents first

Hospital staff work in the COVID-19 intensive care unit in Houston. Photo: Go Nakamura via Getty

Health-care workers and nursing home residents should be at the front of the line to get coronavirus vaccines in the United States once they’re cleared and available for public use, an independent CDC panel recommended in a 13-1 emergency vote on Tuesday, per CNBC.

Why it matters: Recent developments in COVID-19 vaccines have accelerated the timeline for distribution as vaccines developed by Pfizer and Moderna undergo the federal approval process. States are preparing to begin distributing as soon as two weeks from now.

Go deeper (1 min. read)Arrow