Trump leaves the Forbes list of the 400 richest Americans after 25 years
Former President Donald Trump was left off the Forbes list of the 400 richest Americans this year, marking the first time in 25 years that Trump was not on the list.
The former president is said to be still a billionaire. Forbes estimates his fortune is $ 2.5 billion, or the same as last year, when he stood at number 339 on the list.
But the publication says the former president has dropped out of the ranks because of his reliance on real estate properties and his refusal to give them up.
The stock market has boomed during the pandemic, meaning that America’s richest people have been able to increase their wealth as many of the workers who empower their wealth suffered in the COVID-19 era. Some landlords, like Trump, have fought in part because more people have earned by working from home.
Trump’s refusal to give up his business ventures during his presidency gave him a wave of criticism from ethics experts, including former director of the Government Ethics Office Walter Shaub.
Had he done so and reinvested in other sectors of the economy, Forbes reported, Trump would still be able to count himself among the 400 richest Americans.