Forbes Magazine excluded former US President Donald Trump from its Forbes 400 list of billionaires. Forbes revealed this on Tuesday, October 3.
According to Forbes, Trump’s net worth is estimated at $2.6 billion, down from the previous year’s estimate of $3.2 billion, which secured his place on the 2022 rich list.
Trump’s net worth of $2.6 billion falls $300 million short of the threshold for making the Forbes 400 list.
The richest person in America, as per the ranking, is Tesla CEO Elon Musk, with a net worth of $251 billion.
Forbes emphasized that Trump has long been fixated on the Forbes 400, often providing false information to reporters to boost his ranking.
Trump’s exclusion from the Forbes 400 coincides with his ongoing civil fraud trial in New York, where he faces accusations of inflating his wealth and property values significantly.
Forbes attributed Trump’s drop from the list to a $600 million decline in his net worth, primarily due to the performance of his social media venture, Truth Social.
Truth Social has fallen short of Trump’s expectations, with only 6.5 million users, around 1% of X’s (formerly Twitter) user base, according to Forbes.
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