Forbes attributed Trump's decline to a weakening NY retail and office real estate market, and new information about his assets.
Nonetheless, Trump gave Forbes a White House interview earlier this month in which the magazine reported he discussed his relationship with Secretary of State Rex Tillerson, a new economic development plan, and plans not to fill vacancies within the White House administration. Trump is now ranked number 248 on Forbes's list.
Alice Walton was the highest placed woman, with a net worth of $38.2 billion, ranking the heir to the Wal-Mart Stores fortune at 13 - the same position as previous year. The lawsuit in question is the suit concerning Trump University, for which Trump settled for $25 million over claims that the seminars defrauded students who signed up for the university.
However, the new Forbes rankings also delivered some good news for Trump.
The Forbes 400 edition of the magazine was released today.
Forbes said the value of some of Trump's Manhattan real estate holdings had declined recently.
President Donald Trump is not as wealthy as he was a year ago, according to Forbes magazine, which dropped him 92 spots on its annual list of the 400 wealthiest people in America.
In all, the fortunes of 51 members from last year's Forbes ranking dropped in value, while 289 became even richer.
Second on the list of Washington-area billionaires is Washington Nationals owner and longtime real estate tycoon Ted Lerner, worth an estimated $4.9 billion.
The magazine in explaining it got the details, said it continues to get more information by digging deeper on all the properties.
Topping the list was Bill Gates ($89B), followed by Jeff Bezos, Warren Buffet, Mark Zuckerberg and Larry Ellison. Rounding out the top 5 is Larry Ellison (No. 5), worth $59 billion, up $9.7 billion from a year ago.