Former US President Donald Trump has fallen from Forbes magazine's list of the 400 richest Americans. His fortune is currently estimated at $2.6 billion, which places him $300 million below the cut-off figure.
This was announced this Tuesday by the magazine itself, who indicated in an article that the magnate's net worth has been reduced by 600 million dollars compared to last year due mainly to the dramatic loss of value of his social network Truth Social.
Its parent company, in which Trump is the majority owner with 90%, has fallen from an estimated value of 730 million to less than 100 million due to its complicated IPO, which does not prosper in a market dominated by Twitter).
The decline in his assets has also been influenced by the losses in value of his office buildings in San Francisco and New York, which together have reduced some 160 million, according to Forbes.
This list has “obsessed” Trump for years, who according to the article “has incessantly lied to the reporters (of the magazine) trying to position himself higher” in the ranking.. Thus, Forbes itself indicates that the most powerful asset that the former president has right now is his cash, about 426 million.
It is not the first time that Trump falls from the list. He accessed it in 1982, “convincing a reporter that he had a greater percentage of the fortune of Fred Trump, his father, than he actually had,” according to Forbes.. He abandoned it a few years later, in 1990, when his debts came to light, but he re-entered the ranking in 1996.. He was on it until he disappeared again in 2021, but returned to the list in 2022 after the announcement of his social network.
A fraud trial
These days Donald Trump is also facing civil proceedings in New York for fraud in the Trump Organization. This case jeopardizes his businesses and, according to the arguments of the Prosecutor's Office, the former president lied to banks and insurers by inflating his figures.
Before the process began, the businessman was already declared responsible for business fraud by the judge, who also canceled his operating licenses in the state.. In the ongoing trial he faces a fine for damages of up to $250 million and the possibility of a ban on his businesses.