The former American president donald trump has fallen off the magazine list Forbes which groups the 400 Americans richer, since his fortune is estimated at US$2.6 billion, which places him US$300 million below the cut-off figure.
It was announced yesterday by the magazine, which indicates in an article that the magnate’s net worth has been reduced by 600 million dollars compared to last year, and the main reason is the dramatic loss of value of his social network Truth Social.
Truth Social’s parent company, in which Trump is a majority owner (he has the 90%), has fallen from an estimated value of US$730 million to less than US$100 million, a reflection of its minority share in a market dominated by X (formerly Twitter) and its complicated IPO, which did not prosper.
The losses in value of its office buildings in San Francisco and New York have also had an influence, due to the prospects of lower occupancy in the future, which together have reduced some US$160 million, details Forbes.
The Forbes 400 list “obsesses” for years to Trump, whoand “he has lied incessantly to the reporters (of the magazine) trying to position himself higher” in the ranking, according to the article, which indicates that the most powerful asset it has now is cash, about 426 million.
The former president is currently facing civil proceedings in New York for fraud in the Organization. Trump that jeopardizes his business, and precisely in the opening arguments the Prosecutor’s Office pointed out that in addition to lying to banks and insurers by inflating his figures, he deceived Forbes.
Before the process began, the businessman was already found responsible for business fraud by the judge, who also canceled his operating licenses in the state, and in the ongoing trial he faces a fine for damages of up to $250 million and the possibility of a business veto also in the state.
It is not the first time that Trump has fallen from the list, which he accessed in 1982, “convincing a reporter that he had a greater percentage of Fred’s (Trump, his father) fortune” than he actually had, and which he abandoned in 1990, when his debts came to light.
It was then on the list from 1996 to 2021, and had rejoined after the announcement of Truth Social, which is now to blame for its new fall.
Source: Gestion
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