Washington DC, United States: Donald Trump is no longer counted as the richest American as he has been removed from the list of the Forbes’ 400 wealthiest Americans. According to the latest publication, Trump doesn’t count among the top 400 richies in the US.
This year, it is for the second time in three years that the former President of the US State has been expelled from the list. After the list was released, Trump blamed the writers for removing him from the list.
Reportedly, this downfall in Trump’s finances is because he struggles to improve his image amid multiple high-profile trials.
What Trump has to say!
Former President of the US, Trump, took to his official account on his Truth Social platform and called the list “Fake Forbes 400.” Through his post, he highlighted that Forbes is China-owned and has deliberately attacked him by not putting him “high up” on the list of 400 wealthiest Americans.
Forbes Responses:
The magazine, in return, replied and stated that this year, the magazine has verified the personal balance sheet of former President Trump more closely.
The statement by the magazine read, “Removed from The Forbes 400, Trump responds as he always has—by lying about his net worth and saying he should be higher on the list. We take extraordinary care in valuing his fortune, and our ownership—which does not include China’s wealth fund—plays no role in that effort. Twice a year, we publish a detailed breakdown of our work, offering a far more accurate portrayal of Trump’s personal balance sheet than the fictitious documents the Trump Organization has created over the years.”
What’s the actual matter?
On Tuesday, Forbes Magazine revealed that Trump is around US$300 million away from their official cut-off. It underscored that his worth was around US$ 2.6 billion. It has also blamed the President for being “obsessed” with his name on the list, as he was there for decades.
It furthermore stated that Trump has relentlessly lied to the report “to try to vault himself higher on the list.”
It is to be noted that the net worth of Donald Trump has witnessed a decrease of over US$600 million, as compared to the previous year’s net worth.
The Forbes Magazine has also cited that one of the biggest drops in the President’s worth is because of his social media platform – Truth Social. Emphasizing the interest of the users on his app, it is worth mentioning that a very small number of Americans came to use his platform.
According to various stats, around 6.5 million users signed up to the platform, which is around just one percent (1%) of the user base of X, formerly known as Twitter.
This disinterest of users has contributed to the drop in Trump’s net worth value, as he holds around 90 percent of the stake in the platform. His worth decreased from about US$ 730 million to under US$ 100 million.
The magazine also dug into the office building of Trump. Forbes noted that the exact value of the President’s office has dropped by about US$ 170 million. Reports suggest that Donald Trump has around 30 percent of stake in the building with the Vornado Realty Trust.
According to various sources, the documents filed two months ago reveal that half of the building’s rent is paid through the lease that expires by the end of 2026. Reports have also claimed that the location of the building is also an issue as just on the other side of the street, a building was sold for about half of its original cost back in the year 2005. However, it has been noted that Trump’s interest in the building has dropped by US$ 100 million.
On a similar base, Trump’s building in San Francisco is moving out next year. While it has almost a 100 percent occupancy rate, the longtime top tenant, Equitable Holdings.
Who are the top five wealthiest Americans?
- Elon Musk
- Jeff Bezos
- Larry Ellison
- Warren Buffett
- Larry Page