Washington, Oct. 6 (BUS): Former US President Donald Trump is no longer rich enough to make Forbes magazine’s list of the 400 richest Americans.
Business magazine reported Tuesday that Trump’s fortune is estimated at $2.5 billion, leaving him with less than $400 million to list this year.
Last year, Trump ranked 339th in the ranking, but Forbes said he has not made the top 400 this year as his fortune has fallen by $600 million since the start of the pandemic.
According to Forbes, tech stocks, cryptocurrencies, and other assets have thrived in the era of Covid-19.
“But big-city real estate – which makes up the bulk of Trump’s fortune – has plummeted, driving the former president out of the country’s most exclusive club,” the magazine wrote.
Trump has made the list every year since 1996, starting at number 368. From 1997 to 2016 – the year he was elected – he found himself in the top half of the list.
Trump’s decline began in 2016, and since then Trump has continued to decline in the rankings, before dropping off the list altogether now.
According to estimates, Trump was at the peak of his fortune in 2015, when Forbes estimated his fortune at $ 4.5 billion. The following year it was $3.7 billion, and from 2017 to 2019 it was $3.1 billion.
Trump has repeatedly said that being president has cost him billions of dollars.
During his presidency, Trump handed over management of the conglomerate to his sons, but the companies remained in his possession.
HF