Trump no longer wealthy enough to make Forbes' top 400 rich list
Trump has said repeatedly that being president cost him billions of dollars
Former US President Donald Trump is no longer wealthy enough to make Forbes magazine's list of the 400 richest Americans.
Trump is currently worth an estimated 2.5 billion dollars, leaving him 400 million dollars short of the cut-off to make this year’s list, the business magazine reported on Tuesday.
Last year Trump stood at number 339 on the ranking, but Forbes said he did not make the top 400 this year as his fortune has dipped by 600 million dollars since the start of the pandemic.
According to Forbes, technology stocks, cryptocurrencies and other assets have thrived in the Covid-19 era.
"But big-city properties - which make up the bulk of Trump’s fortune - have languished, knocking the former president out of the nation’s most exclusive club," the magazine wrote.
Trump had 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.
Decline
His decline began in 2016, however, and since then Trump has continued to deteriorate in the ranking, before dropping off the list completely now.
According to estimates, Trump was at the peak of his wealth in 2015, when Forbes valued his fortune at 4.5 billion dollars. The following year it was 3.7 billion dollars, and from 2017 to 2019 it was 3.1 billion dollars.
Trump has said repeatedly that being president cost him billions of dollars.
During his presidency, Trump handed over the management of his corporate conglomerate to his sons, but the companies remained in his possession.