Donald Trump Drops Off Forbes 400 Rich List Amid Civil Fraud Trial And Net Worth Scrutiny

Former U.S. President Donald Trump has been excluded from Forbes 400, the annual list of America’s wealthiest individuals, for 2023.

Trump’s estimated net worth stands at $2.6 billion, a drop from the previous year’s estimate of $3.2 billion, according to a report by CBS News.

The decline in Trump’s net worth, as per Forbes, is primarily attributed to his social media venture, Truth Social, which has underperformed its user growth predictions. This has led to a significant reduction in the value of its parent company, Trump Media & Technology Group.

See Also: Biden Tears Into Trump For Calling Fallen US Servicemen ‘Suckers’ and ‘Losers’

Forbes noted that Trump’s real estate portfolio has also experienced a depreciation in value, contributing to his decrease in net worth.

While his social media and real estate endeavors face challenges, Trump’s golf properties have reported increased revenues, performing well in comparison.

Despite these fluctuations, Trump does not meet the baseline net worth of $2.9 billion required for inclusion in the Forbes 400 list for 2023.

Trump, a regular feature on the Forbes 400 list, had previously fallen off in 1990 before regaining a spot in 1996.

Meanwhile, one of numerous legal cases involving the former president as he runs for the 2024 presidential election is a civil lawsuit against Trump and his businesses in New York. Former President Trump made an appearance in the court Monday for the beginning of the trial. The judge has ordered several of Trump’s business licenses to be rescinded as punishment after he found the former president liable for consistently overvaluing his assets and net worth to secure loans.

Read Next: Kevin McCarthy’s Leadership Ends In Historic House Vote Amid GOP Discord

Photo by Evan El-Amin on Shutterstock

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Posted In: NewsPoliticsMediaGeneralDonald TrumpForbes 400 billionaires listNew York Civil Fraud TrialRich List
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