Trump once famously bragged that he could run for President of the United States and make money. Well, he was wrong -- by about $1 billion big ones.

The newest Forbes billionaires list shows that Donald Trump’s personal net worth has fallen from $4.5 billion to $3.1 billion over the past two years, NBC News reports. He fell 138 spots on the Forbes 400, a yearly list of the country’s wealthiest residents.

Despite his confident claims that he could be president and make money, Donald’s bank balance is bleeding funds. There are several reasons why, and it’s all snowballing.

The value of Trump’s many real estate holdings has gone down, and across the board they’re generating less revenue. Extra security at Trump’s various resorts is also costing Trump a lot. Meanwhile, the Trump brand itself has lost a ton of value. Trump merchandise went from $23 million in 2015 to $3 million at present.

“He has significantly tarnished the brand,” said licensing expert Jeff Lotman.

The money coming in from Trump’s golf clubs has decreased, and profits generated by Trump Tower condos have plummeted to new lows every year since Trump announced his presidential run. And his overall hotel revenue is down by about $30 million.

Trump International Hotel is making money, however, largely thanks to visiting officials and Republican politicians who frequently stay there. Mar-a-Lago’s value has also gone up astronomically, but not by enough to offset all of the broader losses.

Trump’s finances are at the center of a lot of media attention lately due to an investigation by The New York Times. The story was published on Tuesday, and it’s 8 pages long.

Three reporters worked on the story for 18 months, digging up tax returns and financial records of all kinds. They cross-checked records, spoke to sources and eventually came up with the story that everyone is talking about today.

In short, the article accuses Trump of tax fraud. This is a federal crime, according to CNN.

As a direct result of the article, Trump is now being investigated for tax fraud in New York. However, Politico reports that Trump is unlikely to suffer legal action. The specific allegations about tax evasion made by the Times happened many years ago, so it would be hard to charge him with a crime today.

The White House has denied all the allegations made by the Times, calling the article “a misleading attack against the Trump family.”

And though the Times piece claims there are “instances of outright fraud” in Trump’s financial past, charges of criminal fraud have an extremely high bar to clear. Mark Matthews, a former IRS deputy commissioner, says that proving fraud against Trump is “exceedingly unlikely.”</s>Donald Trump was bitching about due process Tuesday, but just hours later made a mockery of his FBI investigation by essentially calling Dr. Christine Blasey Ford a fraud.

POTUS mocked Dr. Ford at a rally in Mississippi Tuesday night, before intimating she belongs to a group of "really evil people" set out to destroy other people's lives ... like Supreme Court nominee Brett Kavanaugh.

Trump was egged on by his Mississippi supporters, as he repeatedly made fun of Ford's testimony about being sexually assaulted by Kavanaugh ... specifically her claim that she only had one beer at the party where it allegedly took place.

Trump's point -- we think -- is Ford's claims aren't credible because she can't remember many details about the alleged incident.

Earlier in the day, Trump bemoaned what he says has become the marching orders in the #MeToo movement -- guilty until proven innocent.

He apparently believes it's okay to short-circuit the legal process -- in this case the FBI investigation he authorized -- and just jump to the conclusion Ford must be a liar.</s>SOUTHAVEN, Miss. (Reuters) - President Donald Trump made an undiplomatic remark about close ally Saudi Arabia on Tuesday, saying he warned Saudi Arabia’s King Salman he would not last in power “for two weeks” without the backing of the U.S. military.

FILE PHOTO: Saudi Arabia's King Salman bin Abdulaziz Al Saud welcomes U.S. President Donald Trump during a reception ceremony in Riyadh, Saudi Arabia, May 20, 2017. Bandar Algaloud/Courtesy of Saudi Royal Court/Handout via REUTERS

“We protect Saudi Arabia. Would you say they’re rich. And I love the King, King Salman. But I said ‘King - we’re protecting you - you might not be there for two weeks without us - you have to pay for your military,’” Trump said to cheers at a rally in Southaven, Mississippi.

Trump did not say when he made those remarks to the Saudi monarch.

Despite the harsh words, the Trump administration has had a close relationship with Saudi Arabia, which it views as a bulwark against Iran’s ambitions in the region.

Trump made Saudi Arabia his first stop on his maiden international trip as president last year.

Trump called King Salman on Saturday and they discussed efforts being made to maintain supplies to ensure oil market stability and global economic growth, according to Saudi state news agency SPA.

Saudi Arabia is the world’s top oil exporter and the de facto leader of OPEC, which has been criticized by Trump for high oil prices.

Speaking at the United Nations General Assembly in New York last month, Trump said OPEC members were “as usual ripping off the rest of the world.”

“We defend many of these nations for nothing, and then they take advantage of us by giving us high oil prices. Not good. We want them to stop raising prices, we want them to start lowering prices,” Trump said.

He has also pressed other U.S. allies, such as Japan, South Korea and Germany, to take more of the financial burden of their defense.</s>Southaven, MS - President Donald Trump spoke at a rally in Southaven, Mississippi on Tuesday, Oct. 2.

Trump predicts havoc if Democrats take over Congress

As the fate of his Supreme Court pick hangs in the balance, President Donald Trump barnstormed for a Republican Senate candidate in Tennessee, warning that Democrats will unleash havoc if they gain control of Congress and accusing them of trying to sink his nominee.

“A Democratic takeover of Congress will plunge our country into gridlock and chaos and take away all of the wealth that you’ve earned over the last 20 months,” Trump warned Monday night, claiming without evidence that the stock market would plummet, 401(k)s disappear, taxes rise beyond “your wildest imagination,” and crime go through the roof.

It was a dire picture painted by a president eager to convince his raucous supporters of what’s at stake in November as he headlined a high-dollar, closed-door fundraiser and appeared at a packed rally in Johnson City to boost U.S. Rep. Marsha Blackburn in her tight Senate race against the state’s Democratic ex-Gov. Phil Bredesen for the seat being vacated by retiring Republican Sen. Bob Corker.

Trump praised Blackburn as a “true fighter” for the state, telling the crowd, “She’s all about Tennessee values.”

“A vote for Marsha is really a vote for me,” he said.

Bredesen, like other Democratic candidates across Trump country, has painted himself as a pragmatist willing to work with the president on certain issues. The Tennessee campaign is among several closely watched races expected to determine control of the Senate, where Republicans are desperate to defend a narrow two-seat majority in the face of surging Democratic enthusiasm.

And the stakes couldn’t be clearer. The rally came as the FBI investigated sexual misconduct allegations against Trump’s Supreme Court nominee, Brett Kavanaugh — a probe that was forced by a small group of undecided senators who could doom the nomination. Earlier Monday, Trump disputed reports that his White House tried to narrow the scope of the probe and limit which witnesses the FBI could interview, saying he wants them “to do a very comprehensive investigation, whatever that means.”

But Trump was far less sympathetic in front of his enthusiastic rally crowd, accusing Democrats of trying to slow down the investigation and insisting that nothing will come of it.

“If we took 10 years, they’d want more time,” he complained, charging that Democratic senators are “willing to do anything or hurt anyone” to subvert his agenda, including taking down his nominee.

“They’re trying to destroy a very fine person, and we can’t let it happen,” Trump said.

Kavanaugh has staunchly denied allegations now leveled by multiple women, including one who testified that he pinned her against a bed, groped her, tried to take her clothes off and covered her mouth to silence her when they were in high school.

The rally was the first of a busy week of campaign travel for the president that will take him to states including Mississippi, Minnesota and Kansas.

Previewing his own re-election playbook, Trump criticized a number of rumored 2020 presidential opponents, including Sen. Cory Booker of New Jersey, Sen. Elizabeth Warren of Massachusetts and former Vice President Joe Biden.

“We call him 1 percent Biden,” said Trump, claiming that his political career was finished until former President Barack Obama “took him off the trash heap.”

Trump, who railed against the North American Free Trade Agreement during his 2016 campaign, also hailed the revamped trade agreement with Canada and Mexico unveiled late Sunday, drawing loud cheers from his crowd.

But Trump spent far more time railing against “radical Democrats,” who he said had been “in a blind rage” since his election win.

“They’ve gone crazy,” he said. “Trying to burn our future down.”

Blackburn’s contest, in a state that Trump won by 26 points, has drawn heavy interest from the White House, with repeat visits by both Trump and Vice President Mike Pence.

Bredesen has tried to distance himself from the national Democratic Party, presenting himself as an independent thinker who will support Trump’s policies when they’re beneficial to the state.

The former two-term governor, who would be the first Democrat to win a Senate campaign in Tennessee since Al Gore in 1990 if he’s victorious, has run TV ads in which he says that he’s “not running against Donald Trump” and learned long ago to “separate the message from the messenger.” He held an event Monday night in Chattanooga that he’d hoped would be a debate with Blackburn, and he has been needling her for not agreeing to one there.

“Presidential visits are good for fundraising, but I’ve found that Tennesseans are independent thinkers who can make up their own minds,” Bredesen said in a statement after Trump’s visit.

Trump, as he has in other states, argued that Bredesen is not the centrist he says he is and will wind up voting with Democratic leaders including Chuck Schumer and Nancy Pelosi if he gets to Washington.

Copyright 2018 by WDIV ClickOnDetroit. The Associated Press contributed to this report. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.</s>U.S. President Donald Trump says Saudi Arabia’s king “might not be there for two weeks” without U.S. military support, further increasing his pressure on one of America’s closest Mideast allies over rising oil prices.

As crude oil prices reach a four-year high, Trump repeatedly has demanded OPEC and Saudi Arabia, the world’s biggest oil exporter, push prices down. However, analysts are warning prices could go up to $100 a barrel as the world’s production is already stretched and Trump’s sanctions on Iran’s oil industry take effect in early November.

READ MORE: Saudi king boosts ties to Donald Trump by naming son as U.S. envoy

Criticizing America’s longstanding military relationships with allies has been a hallmark of Trump’s presidential campaign and his time in office. Trump returned to that theme Tuesday night in Southaven, Mississippi, mentioning both Japan and South Korea.

However, Trump’s comments on Saudi Arabia implied the kingdom’s Al Saud monarchy, which oversees the holiest sites in Islam, would collapse without American military support.

“We protect Saudi Arabia – would you say they’re rich?” Trump asked the cheering crowd. “And I love the king, King Salman, but I said, ‘King we’re protecting you. You might not be there for two weeks without us. You have to pay for your military, you have to pay.”‘

Trump didn’t elaborate on when he made the comments to Saud Arabia’s 82-year-old monarch. Trump and King Salman last shared a reported telephone call on Saturday, in which they discussed “efforts to maintain supplies to ensure the stability of the oil market and ensure the growth of the global economy,” according to the state-run Saudi Press Agency.

There was no immediate reaction Wednesday in Saudi Arabia to Trump’s remarks. Riyadh has worked to cultivate warm relations with Trump after having rocky moments with former President Barack Obama.

Saudi Arabia welcomed Trump for his first overseas trip as president. Trump’s administration, particularly his son-in-law Jared Kushner, has sought a close relationship with King Salman’s son Mohammed bin Salman, the country’s crown price and next in line to the throne.

But oil prices seem to be getting in the way, especially as benchmark Brent crude oil is near $85 a barrel – a four-year high. Trump in July tweeted without evidence that Saudi Arabia would increase its production “maybe up to 2,000,000 barrels” a day. Saudi Arabia currently produces some 10 million barrels of crude oil a day. Its record is 10.72 million barrels a day.

Meanwhile, U.S. gasoline prices are up ahead of November midterm elections in which Trump already faces political headwinds. The average price for a gallon of regular gasoline in the U.S. is $2.88, up from $2.55 a year ago, according to AAA.

Trump criticized oil producers in his speech before the U.N. General Assembly last week.

“OPEC and OPEC nations are, as usual, ripping off the rest of the world, and I don’t like it. Nobody should like it,” he said. “We defend many of these nations for nothing, and then they take advantage of us by giving us high oil prices. Not good. We want them to stop raising prices. We want them to start lowering prices and they must contribute substantially to military protection from now on.”

WATCH: President Trump arrives in Saudi Arabia on first international trip</s>US president Donald Trump has said Saudi Arabia’s King Salman “might not be there for two weeks” without US military support.

US president Donald Trump has said Saudi Arabia’s King Salman “might not be there for two weeks” without US military support.

Trump: Saudi king wouldn’t last two weeks without US support

Mr Trump is seeking to put pressure on the close American ally over rising oil prices.

Speaking at a campaign rally in Mississippi, Mr Trump said: “I love the king, King Salman, but I said: ‘King, we’re protecting you. You might not be there for two weeks without us. You have to pay for your military, you have to pay.'”

Mr Trump did not elaborate on when he spoke to the Saudi monarch. Mr Trump and Salman last shared a reported telephone call on Saturday.

Benchmark Brent crude oil prices are close to 85 dollars a barrel – a four-year high – and analysts say it could reach 100 dollars. US petrol prices have gone up ahead of November mid-term elections.

Mr Trump and Salman discussed “efforts to maintain supplies to ensure the stability of the oil market and ensure the growth of the global economy” in their phone call at the weekend, according to the state-run Saudi Press Agency.

There was no immediate reaction in Saudi Arabia to Mr Trump’s remarks. Riyadh has worked to cultivate warm relations with the US president after having rocky moments with his predecessor, Barack Obama.

Saudi Arabia welcomed Mr Trump for his first overseas trip as president.

The US administration – and in particular his son-in-law Jared Kushner – has sought a close relationship with King Salman’s son Mohammed bin Salman, the country’s crown price and next in line to the throne in the Al Saud monarchy.

But oil prices seem to be getting in the way. In July, Mr Trump tweeted without evidence that Saudi Arabia would increase its production “maybe up to 2,000,000 barrels” a day.

Saudi Arabia currently produces some 10 million barrels of crude oil a day. Its record is 10.72 million barrels a day.

Meanwhile, US fuel prices are up ahead of November mid-term elections in which Mr Trump already faces considerable political headwinds. The average price for a gallon of petrol in the US is 2.88 dollars (£2.21), up from 2.55 dollars (£1.96) a year ago.

Mr Trump criticised oil producers in his speech before the UN General Assembly last week.

He said: “Opec and Opec nations are, as usual, ripping off the rest of the world, and I don’t like it. Nobody should like it.

“We defend many of these nations for nothing, and then they take advantage of us by giving us high oil prices. Not good.

“We want them to stop raising prices. We want them to start lowering prices and they must contribute substantially to military protection from now on.”</s>The Saudi Arabian monarchy would fall “within two weeks” if it wasn’t for the military support that the US has provided to the Gulf kingdom over the decades, Donald Trump noted in graceless remarks to the King.

“We protect Saudi Arabia,” Trump proclaimed at a rally in Southaven, Mississippi. “And I love the King, King Salman. But I said ‘King, we’re protecting you, you might not be there for two weeks without us. You have to pay for your military.’”

While Trump failed to mention when the undiplomatic remarks were made to King Salman, it is known that the two leaders held a phone conversation on Saturday to discuss global oil supplies.

Trump has repeatedly vaunted the might of the US military and the country’s role as the “protector”. Time and again, he has urged NATO nations to contribute to the overall maintenance of the alliance, which is heavily dependent on US military and industrial spending. South Korea and Japan also have the US to thank for stability in the Asian region, according to Trump, who previously demanded increased payments from US allies to keep American bases in their countries.

While the US does not have any military bases in Saudi Arabia, neighboring Qatar hosts a large American contingent at Al Udeid Airbase. In the immediate vicinity of Riyadh, Bahrain remains home to the US Fifth Fleet, while adjacent Kuwait also continues to host US troops. There is also an American military presence in the UAE, Iraq, Jordan, and Oman, which can rush to help Saudi Arabia at a moment’s notice.

Trump has yet to demand payment for keeping US troops in the oil-rich region, but the US president did urge them to lower oil prices in return for security last week. “We defend many of these nations for nothing, and then they take advantage of us by giving us high oil prices. Not good. We want them to stop raising prices, we want them to start lowering prices,” Trump said at the United Nations General Assembly.</s>US President Donald Trump told his supporters that Saudi Arabia and its king would not last two weeks in power without American support.

“We protect Saudi Arabia. Would you say they are rich? And I love the King … King Salman but I said, ‘King, we are protecting you. You might not be there for two weeks without us. You have to pay for your military,” Trump told a campaign rally in Southaven.

The kingdom is the world’s top oil exporter and the leader of the oil-producing bloc. The Trump administration has been criticizing Saudi Arabia for high oil prices.

According to Saudi state news agency, Trump called King Salman on Saturday to discuss efforts to maintain supplies to ensure oil market stability and global economic growth.</s>US President Donald Trump said close ally Saudi Arabia and its king would not last "for two weeks" without US military support at a rally in Mississippi on Tuesday.

"We protect Saudi Arabia. Would you say they're rich. And I love the King, King Salman. But I said 'King - we're protecting you - you might not be there for two weeks without us - you have to pay for your military,'" the president said to cheers at the rally.

Trump did not say when he made those remarks to the Saudi monarch, but they come amid increasing oil prices in the US.

Saudi Arabia is the world's top oil exporter and the de facto leader of the oil producing bloc, OPEC, which has been criticised by Trump for high oil prices.

Trump called King Salman on Saturday to discuss efforts to maintain supplies to ensure oil market stability and global economic growth, according to Saudi state news agency SPA.

Saudi Crown Prince Mohammed bin Salman traveled to Kuwait last weekend to speak with Kuwaiti Emir Sheikh Sabah al-Ahmad al-Jaber al-Sabah, reportedly about increasing oil production.

No further developments have surfaced from the Kuwait meeting but media reports said the Gulf crisis was also on the agenda of the talks.

Speaking at the United Nations General Assembly in New York last month, Trump said OPEC members were "as usual ripping off the rest of the world".

Oil prices are on the rise. A barrel of oil currently costs about $75, continuing a steady increase over the past year. The price per barrel was around $50 in October 2017.

The average cost of a gallon (3.78 litres) of petrol in the US was $3 in May, according to AP. Despite the harsh words, the Trump administration has had a close relationship with Saudi Arabia, which it views as a bulwark against Iran's ambitions in the region.

Trump made Saudi Arabia his first stop on his maiden international trip as president last year, shortly before Bahrain, Egypt, the United Arab Emirates and Saudi Arabia imposed a blockade on Qatar, alleging support of terror organisations and decrying what they see as its close relationship with Iran.

"We defend many of these nations for nothing, and then they take advantage of us by giving us high oil prices. Not good. We want them to stop raising prices, we want them to start lowering prices," Trump said.

The US military was stationed in Saudi Arabia from the first Gulf War against Iraq in 1990 to 2003, when then Secretary of Defense Donald Rumsfeld announced pullout.

The presence of the US military in Saudi Arabia, home to the two holiest sites in Islam – Mecca and Medina – was strongly objected to by most of the world’s Muslim population, according to opinion polls published by Gallup in 2009.

Qatar hosts the largest US military base in the region.

Trump has also pressed other US allies, such as Japan, South Korea and Germany, to take more of the financial burden of their defence.</s>US president Donald Trump has said Saudi Arabia’s King Salman “might not be there for two weeks” without US military support.

Mr Trump is seeking to put pressure on the close American ally over rising oil prices.

Speaking at a campaign rally in Mississippi, Mr Trump said: “I love the king, King Salman, but I said: ‘King, we’re protecting you. You might not be there for two weeks without us. You have to pay for your military, you have to pay.'”

Mr Trump did not elaborate on when he spoke to the Saudi monarch. Mr Trump and Salman last shared a reported telephone call on Saturday.

Benchmark Brent crude oil prices are close to 85 dollars a barrel – a four-year high – and analysts say it could reach 100 dollars. US petrol prices have gone up ahead of November mid-term elections.
In a public speech in Southaven, Mississippi, U.S. President Donald Trump claims that Salman of Saudi Arabia's power wouldn't last "for two weeks" without the support of the U.S. military.