An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread more
"There is reason to believe that we know the culprit," Trump said in a post on Twitter.Politicsread more
Stocks fell on Monday amid fears that a surge in oil prices following an attack in Saudi Arabia could slow down global economic growth.Marketsread more
President Donald Trump signaled Iran is not telling the truth about the drone attacks on Saudi Arabia's largest oil facilities.Oilread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
U.S. Secretary of Energy Rick Perry spoke to CNBC's "Squawk on the Street" on Monday following a series of drone attacks on Saudi Arabia's oil facilities caused the largest...Oilread more
Perry says it's too soon to say whether the U.S. will need to use its emergency crude reserves to offset the surge in oil prices.Oilread more
An extended Saudi oil outage could push Brent crude prices north of $75 per barrel, Goldman Sachs warned clients.Marketsread more
As investors worry about oil supply, airline and cruise ship stocks are getting hit, while some energy stocks are shooting upward.Marketsread more
Consumers in the U.S. prefer Apple's more expensive models, while the standard iPhone 11 appears to be more attractive to buyers in China, according to analyst Ming-Chi Kuo.Technologyread more
The Times updated an article detailing a previously unreported accusation against Justice Kavanaugh from when he was a Yale University student, noting that "the female student...Politicsread more
Try as he might, the billionaire president isn't profiting off his time in the White House, according to a new report.
The president's net worth stands at $3.1 billion, down from $4.5 billion in 2015, Forbes said. As a result, Trump has tumbled down the Forbes 400 list, the latest edition of which will be published in full Wednesday. Trump was the 248th wealthiest person in America on Forbes' 2017 list.
The magazine identifies three main factors affecting Trump's income and businesses:
Trump's wealth is reportedly dwindling even as the president has taken steps to boost his revenue while in office, according to Forbes. Those steps include Trump launching his re-election campaign just after the November 2016 race, which kept donations flowing in that have been used by Trump's companies.
The Trump Organization did not respond to CNBC's request for comment on Forbes' report. But Eric Trump told the magazine in a statement: "My father made a tremendous sacrifice when he left a company that he spent his entire life building to go into politics ... Everything he does is for the good of the American people—he has zero involvement in the Trump Organization and quite frankly to suggest otherwise is outrageous."
The White House also did not immediately respond to CNBC's request for comment on Forbes' report.
Trump veered sharply from the precedent set by other modern presidents when he refused to fully divest from his business empire after winning the 2016 election against Hillary Clinton. Instead, he transferred his assets to a trust run by his sons, Eric Trump and Donald Trump Jr., as well as the Trump Organization's chief financial officer, Allen Weisselberg.
Weisselberg was granted immunity by federal prosecutors investigating Trump's former personal attorney, Michael Cohen. In August, Cohen pleaded guilty in August to eight criminal counts, including making payments in violation of campaign finance laws, which he said were made "in coordination" with Trump "for the principal purpose of influencing the election."
Meanwhile, Trump's bombastic rhetorical style on the campaign trail and in the White House appears to have made some businesses reluctant to forge relationships with the Trump Organization, according to Forbes.
Trump kicked off his campaign by claiming that the people "Mexico sends" are bringing drugs, crime and rape to the U.S., and later that year called for a "total and complete shutdown of Muslims entering the United States until our country's representatives can figure out what is going on."
As a result of his contentious positions, the licensing aspect of the Trump Organization — in which Trump sells his name to be displayed prominently on buildings and products that he may not actually own or be liable for — has reportedly taken a massive hit.
Forbes estimates Trump's licensing operation is now valued around $3 million, down sharply from the $23 million estimate Forbes made in 2015. Brands such as Serta and Macy's separated from their licensing agreements with Trump shortly after some of his most incendiary comments on the campaign trail.