For the past 25 years, former President and business mogul Donald Trump has been a mainstay of the Forbes 400, a list of the 400 wealthiest people in the United States regularly updated by Forbes magazine. Trump’s wealth has kept him in the top half of the list from 1997 to 2016, right up until he was inaugurated as President. However, it seems becoming the President didn’t do as much for Trump’s finances as he may have hoped, as in the latest edition of the Forbes 400, he’s dropped off entirely.
According to the Forbes 400, Trump is currently valued at approximately $2.5 billion, which is $400 million short of the bottom line to qualify for the list. According to Forbes analysts, Trump actually could have not only maintained his previous wealth, but expanded it, even as President, if not for several events both inside and outside of his control. If Trump had indexed his assets when he became President instead of holding on to them, he could have earned $4.5 billion.
The majority of Trump’s fortune is based in real estate, especially major high-rises in the New York City area, as well as hospitality industries like golf courses. Both of these sectors were severely impacted by the COVID-19 pandemic, with potential renters and buyers fleeing from New York City in favor of the suburbs and hospitality industries languishing as potential patrons remained in lockdown.
Donald Trump is Off Forbes’ List of the 400 Richest Americans for the First Time in 25 Years https://t.co/Ise1RqhuQh
— Mediaite (@Mediaite) October 5, 2021
Forbes analysts note that, in an alternate universe where Trump either didn’t become President or properly prepared for these scenarios, he could have made a total profit of $7 billion. Instead, his total wealth decreased by over $1 billion over the course of his presidency, ultimately costing him his place in the Forbes 400.