Trump Falls Off Of Forbes’ 400 Richest Americans List
Former President Donald Trump fell off the Forbes‘ annual report of the 400 wealthiest Americans, the first time he was excluded from the list in 25 years.
According to the report, Trump’s worth was estimated at $2.5 billion, $400 million short of this year’s cutoff.
Trump’s wealth decreased by about $600 million since the pandemic started in 2020. His properties and real estate from his Trump Organization are mostly in big cities or in the hospitality industry.
“If Trump is looking for someone to blame, he can start with himself,” Forbes wrote Tuesday. “Five years ago, he had a golden opportunity to diversify his fortune.”
“Fresh off the 2016 election, federal ethics officials were pushing Trump to divest his real estate assets,” the report added. “That would have allowed him to reinvest the proceeds into broad-based index funds and assume office free of conflicts of interest.”
Meanwhile, the richest people in the United States got even richer in the past year, according to Forbes.
The report estimated that the total wealth of the richest 400 people on its list got bigger by 40% from 2020, reaching $4.5 trillion in total.