Former US President Donald Trump is no longer rich enough to be included in the Forbes 400 list, Forbes magazine said on Tuesday, Oct. 3.
Forbes estimates his net worth
at $2.6 billion, which is down from the magazine's estimate a year earlier that
the real estate tycoon was valued at $3.2 billion, which earned him a place on
the 2022 rich list.
Trump's estimated net worth of
$2.6 billion is $300 million short of the baseline to make the Forbes 400 list.
The richest person in America
is Tesla CEO Elon Musk, with a net worth of $251 billion, according to the
ranking.
Forbes noted that the Forbes
400 is an "annual measurement that Trump has obsessed over for decades,
relentlessly lying to reporters to try to vault himself higher on the
list."
Trump’s exclusion from the
Frobes 400 also comes as he is facing a civil fraud trial in New York that
accuses him of vastly over representing his wealth and the values of many of
his properties.
Trump fell off this year's list
because of Forbes' estimate that his net worth declined by $600 million
compared with a year earlier. This decline is due to Trump's social media
business, Truth Social, Forbes said.
Truth Social has so far failed
to live up to Trump's vision for the social media service. Forbes estimates
that Truth Social has signed up just 6.5 million users — about 1% of the users
on X (formerly known as Twitter).
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