Former President Donald Trump has once again found himself outside of Forbes’ ranking of the richest individuals in the United States, known as the “Forbes 400.” This comes as no surprise, considering his tumultuous exit from the White House in 2021. However, Trump managed to regain his position in the list in the previous year, ranked at 343rd with an estimated net worth of $3.2 billion at that time. This was made possible through the sale of some real estate assets and other businesses. Nevertheless, as of 2023, Trump has once again been excluded from the esteemed group, with his current estimated net worth standing at $2.6 billion. While many may attribute this decline to the various legal controversies surrounding him, Forbes suggests that poor investments and a depreciation in the commercial real estate market are the primary culprits.
One major factor contributing to Trump’s decline in wealth is his ill-fated investment in Truth Social, the social media platform launched by the former president. Unfortunately for Trump, Truth Social has failed to gain traction and attract a consistent user base. This lack of success has directly impacted Trump’s financial well-being. Additionally, the market value of his office buildings has depreciated significantly. With the rise of remote work and certain cities experiencing an exodus of residents, such as San Francisco where Trump holds some assets, his commercial real estate portfolio has taken a severe hit. Consequently, it is the regular rules of the economy rather than his mounting legal bills that have played a significant role in his financial downturn.
According to Forbes, Trump’s liquid wealth is estimated to be around $426 million, far from bankruptcy. However, considering his obsession with status and wealth over the years, it is safe to assume that being excluded from the Forbes 400 once again has left him displeased. Nonetheless, there is still hope for Trump to regain his position on the list in 2024.
While it may be tempting to associate Donald Trump’s exclusion from the Forbes 400 with the legal battles he has faced, it is essential to recognize the influence of his investments and the performance of the real estate market. Truth Social’s failure to attract users, along with the depreciation of his office buildings, has significantly impacted his net worth. With an estimated liquid wealth of $426 million, Trump is far from facing financial ruin. However, given his personal aspirations and desire for recognition, it is likely that his exclusion from the list has been a source of frustration. Perhaps in the following years, Trump will have better luck in reclaiming his position among the richest individuals in the United States.
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