Donald Trump plunges on Forbes rich list from 156th spot to 248th after losing an estimated $US600 million

DONALD Trump still hasn’t released his tax returns but Forbes has calculated that he has plummeted almost 100 spots on the list of richest Americans.

Donald Trump’s wealth has taken a hit since he became US president. Picture: Supplied

US PRESIDENT Donald Trump’s wallet took a $US600 million ($762 million) hit this year over last — as he dropped from 156th place in 2016 on Forbes magazine’s annual list of the wealthiest Americans to 248th this year.

The president’s net worth fell from $US3.7 billion to $3.1 billion ($4.7 billion to $4 billion), Forbes reported, saying it arrived at that figure after “months of digging through financial disclosures and public property records and conducting dozens of interviews.”

Barron, Melania, Donald, Tiffany, Eric, Don Jr and Ivanka Trump at the president’s New York home. Picture: Supplied

The New York Post reports that declines in real estate prices, the settlement of the fraud lawsuit against Trump University and declining numbers of visitors at some of his golf resorts all contributed to the drop-off.

Mr Trump’s real estate portfolio, which includes many properties in the Big Apple, took the biggest hit.

Donald Trump, seen in front of the 92-storey Trump International Hotel & Tower in Chicago. Picture: AP

The drop in value at some of his Manhattan properties, especially those on or close to Fifth Avenue, cost him about $US400 million ($508 million).

His golf courses in Miami, Ireland and Scotland also lost value as people — possibly offended by Mr Trump’s behaviour — stayed away.

Mr Trump’s cash on hand is also down to about $US100 million ($127 million) since 2016 after he spent $66 million ($84 million) on his campaign and coughed up $25 million ($32 million) settling a lawsuit over Trump University.

The entrance to Trump Tower looks a lot different since Donald Trump became president. Picture: AFP

Some of Mr Trump’s properties rose in value in the past year, including the hotel-condo tower in Las Vegas that he owns with fellow Forbes 400 member Phil Ruffin and his minority stake in a downtown San Francisco office building, which still benefits from the hot real estate market in the Bay area, according to the report.

This article originally appeared in the New York Post