Former President Donald Trump is no longer on the Forbes list of richest Americans.
According to Forbes 400, Trump, who was free falling on the list since 2016 fell off entirely in 2021. His $2.5 billion fortune was $400 million short of making the exclusive list.
Forbes said Trump could have been worth $7 billion by September 2021 if he had divested his real estate assets when he became president. If he would have put the money in an index tracking fund, he could have earned $4.5 billion by 2021.
The COVID pandemic also dealt a blow to Trump’s fortune. He’s down $600 million since the pandemic began. While technology stocks, cryptocurrencies and other assets have thrived during the pandemic, big city properties, like Trump’s, have not, according to Forbes.
Trump fell nearly 300 spots on Forbes list of billionaires published in April. His fortune fell by $1 billion during his one term in the White House, from $3.5 billion to $2.4 billion.
