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Donald Trump falls off the Forbes 400 for first time in 25 years

According to Forbes, Trump's fortune is the same as a year ago, but he has lost USD 600 million since the start of the COVID-19 epidemic.

Donald Trump falls off the Forbes 400 for first time in 25 years gcw
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Washington D.C., First Published Oct 6, 2021, 12:30 PM IST
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Former US President Donald Trump, a real estate billionaire, has slipped off the Forbes 400 list of America's wealthiest individuals for the first time in 25 years, according to the magazine.
According to Forbes, Trump's fortune is the same as a year ago, but he has lost USD 600 million since the start of the COVID-19 epidemic. Trump, who has a net worth of $2.5 billion, fell only $400 million short of reaching the list. According to Forbes, his net worth is the same as last year, but it is a considerable decrease from where he was at the outset of his administration. According to Forbes, Trump was worth $3.7 billion in 2016. This fell to $3.1 billion in 2017 and remained there in 2018 and 2019. 

It's the first time in 25 years that Trump hasn't made the annual list, which debuted in 1982.

Also Read | Donald Trump takes dig at Biden, says never in history departure from war managed so poorly

According to the report, Trump had an excellent chance during the US presidential election season. "Following the 2016 election, federal ethics regulators pressed Trump to sell his real estate holdings. This would have allowed him to reinvest the earnings in broad-based index funds and take office without any conflicts of interest," according to the Forbes article.
The previous US president, on the other hand, had opted to keep his riches. "At the time, they were projected to be worth $3.5 billion after debt." According to the magazine, Trump is responsible for the decrease in the polls. It added, "If Trump is searching for someone to blame, he need look no further than himself."

According to the magazine, while several industries benefited under COVID-19, "big-city properties — which make up the majority of Trump's money — have stagnated." A few days before taking office, Trump stated that he "could actually manage my company and run government at the same time."

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