Donald Trump’s net worth has apparently taken a dip, with Forbes noting it in its most recent publication of Forbes billionaires list. Trump’s net worth is largely shrouded in mystery, especially since he somehow defrauded Americans and will never release his taxes, even when he promised he’d do so.
Forbes has noted that his net worth has slipped 222 places, with Forbes suggesting that the decline in property values in New York City, as well as the growing irrelevance of golf courses, have all contributed to the decline. It’s important to note that net worth is beyond hard money. It also calculates the value of properties and other investments in a person’s investment portfolio. Trump’s net worth has dropped from $3.5 billion to $3.1 billion.
The publication of this list also shows an ever-widening gap between the super-rich and everyone else. The number one person on that list is Amazon president Jeff Bezos, with his net worth leaping from an already staggering $39.2 billion last year, to an astounding $112 billion. In about a year, his net worth almost tripled.
Other winners include Microsoft founder Bill Gates, who has gained $4 billion, and investment superstar Warren Buffett, who earned a cool $8.4 billion in the past year. The United States is in first place when it comes to the number of billionaires, with 585 billionaires living here.
For Everyone Else, Their Wages Are Stagnating
Since the 1970s, typical workers have had their wages stagnating when adjusted for inflation. For the past several decades, wages received by workers only increased a pathetic .2% each year. Even though the economy has improved and has become significantly more robust, the typical American worker is not experiencing these gains.
The issue of economic justice is one that is highly complex, with several moving parts. In a capitalist structure, there will be winners and losers. However, current wages are abysmal and offensive.
But don’t expect Trump to look out for the little man. Even though his net worth has dropped, he is still wealthy and has been keen to pass a tax bill that will restructure our tax system and make the rich even wealthier.
Featured image via Getty/Sean Gallup