Forbes' Billionaires List: Trump Holds, Speyer Ties Solow, Bloomberg Makes Top 50

Despite the national housing market crisis and some serious global competition, Manhattan real estate moguls maintained a commanding presence in

Despite the national housing market crisis and some serious global competition, Manhattan real estate moguls maintained a commanding presence in the billionaires club in 2008, according to Forbes’ annual list.

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Donald Trump fell from No. 314 in 2007 to 368 this year with a net worth of $3 billion. The founder of Related Companies, Stephen Ross, jumped from No. 369 in 2007 to 227 this year with a net worth of $4.5 billion, derived from high-profile Manhattan projects like the Time Warner Center (and he recently bought half of the Miami Dolphins).

Sheldon Solow, the owner of the West Side’s trophy-office-tower 9 West 57th Street and the reigning pettifogger of New York’s real estate market, tied Tishman Speyer CFO Jerry Speyer for 605th place, each with a net worth of $2 billion. Though Mr. Solow’s worth increased by $30 million in 2008, last year he ranked higher on the list at 583.

Vornado Realty CEO Steven Roth’s net worth fell from $1.6 billion last year to $1.3 billion in 2008, causing his ranking to plummet from No. 618 to 897 this year.

Karl Icahn moved from No. 71 in 2007 to 46 this year with a fortune of $14 billion, partly stemming from national real estate investments.

Madison Square Garden owner (and Cablevision chairman) Charles Dolan dropped from 336 on last year’s list to 462 in 2008 with a net worth of $2.5 billion.

Not all Manhattan moguls were as impervious to the subprime crisis as the city’s heavy-hitting developers. The investment bankers who didn’t manage to make the cut this year include Lehman Brothers chief Richard Fuld, who ranked 891 last year with a $1 billion fortune, and ex-Bear Stearns chief James Cayne, who came in No. 754 2007.

We know he’s not really directly involved in real estate, but Mayor Michael Bloomberg jumped from No. 142 last year to 65 in 2008 with a net worth of $11.5 billion.

Forbes' Billionaires List: Trump Holds, Speyer Ties Solow, Bloomberg Makes Top 50