Former President Donald Trump has been removed from Forbes’ prestigious 400 richest Americans list for the second time in three years. This news comes as Trump’s estimated net worth of $2.6 billion falls short of the qualifying criteria.
Key Takeaway
Former President Donald Trump has fallen off Forbes’ 400 richest Americans list for the second time in three years. The decline in Trump’s net worth can be attributed to a poor investment in Truth Social and the depreciation of his office buildings in the real estate market. Despite this setback, Trump’s liquid assets amount to approximately $426 million.
A Rocky Journey for Donald Trump
In 2021, Donald Trump was initially excluded from the esteemed group after a turbulent exit from the White House. However, he managed to regain his position on the list last year, securing the 343rd spot with an estimated net worth of $3.2 billion. This resurgence was fueled by real estate transactions and other business endeavors.
Unfortunately, in 2023, Trump finds himself once again falling short of the Forbes 400 list. Despite facing numerous legal challenges, including a civil trial investigating his wealth and property values, it seems that these factors are not directly responsible for his drop in fortune.
The Impact of Investments
Forbes attributes Trump’s decline in wealth primarily to a poor investment in Truth Social, his social media platform. The outlet reports that Truth Social failed to gain traction and attract a consistent user base, resulting in financial setbacks for Trump. Additionally, the depreciation of some of his office buildings in the real estate market has further contributed to his diminished net worth.
Trump’s commercial real estate portfolio has suffered significant losses, partially due to the rise of remote work and the trend of residents leaving cities, such as San Francisco, where Trump holds assets.
A Noteworthy Financial Position
Despite his exclusion from the Forbes 400 list, Donald Trump’s liquid wealth is estimated to be around $426 million. This suggests that he is far from being financially destitute. However, given Trump’s well-documented focus on status and success, it is reasonable to assume that he may be disappointed to have been excluded once again.
