Combined net worth of America's richest rises to $2.7 trillion

7 Michiganders make 2017 Forbes list of '400 richest Americans'

This year's Forbes 400 list was the most discerning of all, as the magazine reported that the minimum net worth required to be included hit a record high of $2 billion.

With a net worth of $2.8 billion, Tom Benson is ranked No. 288 on Forbes 2017 ranking of the 400 wealthiest Americans.

Only 51 billionaires on the list saw their net worth decline, most notably President Donald Trump.

The list is out of Forbes 400 Richest Americans and it shows that the commander in chief's wealth dropped by $600 million to $3.1 billion.

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. That's down from $3.7 billion one year ago, and down from $4.5 billion the year before that.

Forbes' 2015 list, dropping to 156th place on the 2016 list. According to the publication, the bulk of Trump's fortune is "tied up in a half-dozen buildings in and around midtown Manhattan in New York City, where luxury real estate values have fallen recently".

'You're A Clown', Fani-Kayode Slams Okorocha Over Zuma's Statue Erection
The visit happened just as South Africa's Supreme Court ruled that President Zuma should face corruption charges. Suraj. "It is a case of show me your friend and I'll tell you who you are".

Forbes attributed this sharp drop to a weakening in the the NY retail and office market.

Forbes has been following Trump's tremendous fortune since 1982, when the 400 wealthiest rundown appeared.

Topping the list was Bill Gates ($89B), followed by Jeff Bezos, Warren Buffet, Mark Zuckerberg and Larry Ellison.

A total of 169 billionaires were not rich enough to make the list.

But the real estate mogul's wealth has always been a subject of debate among journalists and financial experts who have accused him of consistently inflating his net worth without evidence.

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