Trump drops from Forbes list of richest 400 Americans
(KTVX) – Since the early 1980s, Forbes has published an annual list of the 400 richest American citizens. For the first eight years – and also the last 25 years – former President Donald Trump was on this list.
Not this year.
Dan Alexander of Forbes explained that Trump, down $ 600 million since the start of the COVID-19 pandemic, has lost $ 400 million below the threshold to be on this year’s list. Trump is worth around $ 2.5 billion, according to Forbes.
The last time Trump failed to make the list was in 1995. As Forbes reports, Trump was on the first list in 1982, before falling between 1990 and 1995 and returning in 1996.
Trump’s wealth has often been a topic of conversation. In a 2018 article, the New York Times challenged Trump’s claims of self-made wealth by documenting how his father, Fred, had given him at least $ 413 million over the decades, including through plans to tax avoidance. Mary Trump, the former president’s niece, identified herself in a book published last year as the source of the documents provided to The Times.
SLIDESHOW: The top five on the Forbes 400 for 2021 from first to fifth
After hearing that Trump was planning to sue her and the New York Times for this story, Mary Trump told NBC News about her uncle: “I think he’s a loser, and he’s going to throw it all up against the wall. that he can. It is despair. The walls close and he throws everything against the wall he thinks to stick. As always with Donald, he will try to change the subject.
Trump, the only modern-day president not to make his tax returns public, has paid no federal income taxes in 10 of the past 15 years. Trump paid just $ 750 in federal income tax in the year he ran for President and in his freshman year in the White House, according to a 2020 report in the New York Times.
Forbes reports that Trump’s net worth of $ 2.5 billion has not been this low since 2009. That year, Trump’s net worth was estimated at $ 2 billion.
Alexander says Trump can blame himself for falling off the Forbes 400 and believes if he had decided to diversify his heavy real estate investments by putting that money into an S&P 500 index fund when he became president, he would have seen an increase of $ 2 billion. Forbes shows that Trump’s ranking on the list started to drop after he won the presidency.
Now, for the first time in 25 years, Trump is off the list. To view the full Forbes 400, click here.
The Associated Press contributed to this report.
Suggest a correction