Donald Trump Falls Off The Forbes 400 For First Time In 25 Years

International

6-10-2021, 20:30

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INA - BAGHDAD

Donald Trump is worth an estimated $2.5 billion, leaving him $400 million short of the cutoff to make this year’s Forbes 400 list of America’s richest people.

The real estate mogul is just as wealthy as he was a year ago, when he stood at No. 339 on the ranking, but he is down $600 million since the start of the pandemic.

Technology stocks, cryptocurrencies and other assets have thrived in the Covid 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.

If Trump is looking for someone to blame, he can start with himself. Five years ago, he had a golden opportunity to diversify his fortune.

Fresh off the 2016 election, federal ethics officials were pushing Trump to divest his real estate assets. That would have allowed him to reinvest the proceeds into broad-based index funds and assume office free of conflicts of interest.