Palm Beacher and Commerce Sec. Wilbur Ross: Faux billionaire?

Forbes magazine says U.S. Commerce Sec. and Palm Beach resident Wilbur Ross, shown here in 2013 at The Beach Club, is not a billionaire. (Meghan McCarthy/The Palm Beach Daily News)

Attentive readers of the PostOnPolitics blog will recall that Palm Beach resident and U.S. Commerce Sec. Wilbur Ross was flagged as “noticeably absent” when Forbes released its annual list of the 400 wealthiest Americans last month.

The latest Forbes 400 showed President and part-time Palm Beacher Donald Trump slipping from $3.7 billion in net worth in 2016 to $3.1 billion now and tumbling from 156th place to 248th.

Ross ranked 319th on the 2016 list with a net worth of $2.9 billion but was a no-show this year. In an article posted today, Forbes’ Dan Alexander contends Ross’ net worth is in the $700 million neighborhood.

“So began the mystery of Wilbur Ross’ missing $2 billion,” Alexander writes. “And after one month of digging, Forbes is confident it has found the answer: That money never existed. It seems clear that Ross lied to us, the latest in an apparent sequence of fibs, exaggerations, omissions, fabrications and whoppers that have been going on with Forbes since 2004.”

Click here to read the entire article.


Author: George Bennett

George Bennett has been a Palm Beach Post reporter since 1992. He grew up in Bethesda, Md. and is a graduate of The George Washington University. Follow him on Twitter @gbennettpost

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