President Trump dropped 92 spots on Forbes' list of the 400 richest Americans in 2017.

Trump now sits at No. 248, compared to being ranked No. 156 on the list last year.

Forbes estimates the president's net worth to be $3.1 billion, a drop of $600 million since last year. Trump has claimed he worth's $10 billion.

The magazine attributed the drop in Trump's fortune to "a tough New York real estate market, particularly for retail locations, a costly lawsuit and an expensive presidential campaign."

Trump paid $25 million to settle three Trump University fraud lawsuits days before his was sworn in as president.

Microsoft founder Bill Gates and Amazon owner founder and Washington Post owner Jeff Bezos top the list of richest Americans.