Donald Trump, the former US president, left the Forbes 400 list of the richest people in the United States this year, for the first time in 25 years.
According to Forbes magazine, in a report issued on Tuesday, Trump’s fortune, estimated at $ 2.5 billion, did not allow him to be on the list for this year.
Trump ranked 339th in the Forbes 400 list last year, but his fortune has decreased by $600 million since the start of the Corona pandemic in late 2019.
According to Forbes, “Tech stocks, cryptocurrencies, and other assets have boomed during the pandemic, but the real estate sector, which makes up the bulk of Trump’s fortune, has plummeted, driving him out of the country’s richest club.”
From 1997 to 2016, Donald Trump held a place in the first half of the list, but things took a turn for the worse in the year he won the presidency.
After five years of decline in the world rankings is now off the list.
Five years ago, Trump had a golden opportunity to diversify his fortune. After the 2016 election, federal ethics officials were pushing him to withdraw his real estate assets.
This would have allowed him to reinvest the proceeds into broad-based index funds and take a position free of conflict of interest, according to the magazine.
Forbes’ list of the 400 richest Americans is a list first published in 1982, and ranks the richest people according to their net worth.
Despite the fallout from the Corona epidemic, the 400 richest Americans saw their collective wealth increase by 40 percent over the past year, to reach $4.5 trillion.