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When it comes to Donald Trump‘s finances, there are quite a few signs that a lot of it was an illusion. Sure, he’s rich, but he probably wasn’t as wealthy as he claimed just by judging the evidence in his New York business fraud civil case. With his financial world crashing down around him, Forbes has dealt the former president another blow — he’s no longer a part of the elite club of billionaires.
The Forbes 400 list ranks “America’s richest people” and in 2023, Donald Trump is not one of them. He was about $300 million off this year, thanks to a whopping $600 million drop in net worth. He has one particular business venture that is not doing so well lately. Truth Social, the social media platform that he banked on after his Twitter exit, isn’t seeing people flock to sign up for an account. His 90% interest in the business was formerly worth $730 million, but now, it’s reportedly less than $100 million.
Another lackluster performance area in his business portfolio is his commercial real estate properties. While many of the buildings currently have a healthy occupancy rate, many of the significant leases are up in the next few years. Many businesses are expected not to renew due as many corporations move to a remote or hybrid model of work. They no longer need major square footage for their offices. And with the ongoing business fraud civil suit, Donald Trump may have to liquidate some of his assets, including his prized Trump Tower. The one bright spot for the former president is that his golf courses are a hole-in-one success.
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Forbes noted that Donald Trump has fallen off this list before and made an impressive comeback, but with multiple legal battles ahead — there might not be a next time. That would likely bug the embattled business owner, who was “obsessed over for decades” over the Forbes 400 list, according to the media outlet. Perhaps with so much going on with his civil trial, Donald Trump won’t even know that his estimated $2.6 million net worth was not enough to make him one of the richest people in America.
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