Emmanuel OchayiIn a dramatic turn of events, former United State President Donald Trump finds himself excluded from The Forbes 400 list of the richest Americans as his net worth plunges by 19%, now estimated at $2.6 billion.
Trump’s financial setbacks come amidst ongoing legal battles and declining business prospects, as Forbes reveals.
Forbes spokesperson said: “We regret to inform that Donald Trump has not met the Forbes 400 cutoff this year, falling short by $300 million.”
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According to CNN, Financial Analyst, Jane Smith: “Unlike top billionaires like Musk, Bezos, and Ellison, Trump’s net worth has taken a significant hit.”
Donald Trump’s net worth decline can be attributed to two key factors. His social media platform, Truth Social, has struggled to gain traction, with dwindling user numbers and a sharp devaluation of his stake. Additionally, Trump’s real estate empire is feeling the squeeze, with the commercial real estate market facing challenges due to remote work.
Despite these setbacks, Trump’s golf courses are performing well, and he still holds a substantial amount of cash estimated at $426 million, thanks to book sales, speaking engagements, and recent deals.
This isn’t the first time Trump has been excluded from The Forbes 400. He faced a similar fate in 2021 and back in 1990 during a period of financial distress.
Forbes’ rankings rely on estimates and projections, and past reports suggest that Trump has used deceptive tactics to secure a place on the list in the past.
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