For the first time in 25 years, Donald Trump was not on Forbes’ 400 richest Americans. The former president of the United States has shrunk by around $ 600 million since the start of the COVID-19 pandemic, according to estimates. Jeff Bezos headed the list for the fourth year in a row.
In 2020, Donald Trump was still in 339th place. This year, he was about $ 400 million short of being on the list. Forbes estimates Trump’s current net worth at $ 2.5 billion.
Donald Trump dropped out of the richest Americans list
Donald Trump has been on the list of the 400 richest Americans continuously since 1996 (then 368). In the years 1997-2016 it was in its upper half. The decline began in 2016, when Trump was elected president of the US. In 2015, Forbes estimated his fortune at $ 4.5 billion.
During his tenure at the White House, Trump repeatedly insisted that the presidency was costing him billions of dollars. Critics, on the other hand, accused him of using the office to profit.
Cryptocurrencies and tech stocks have been gaining ground in recent months, while urban real estate – which makes up most of Trump’s fortune – hasn’t fared so well.
Forbes pointed out that Trump can only blame himself for this situation, as five years ago he had an excellent opportunity to diversify his fortune. Fresh from the 2016 elections, federal ethics officials pressured Trump to sell his real estate, the magazine explained.
“This would allow him to reinvest the proceeds in index funds and take office without a conflict of interest. Trump, however, decided to keep his assets,” Forbes wrote. He added that the decision probably cost the former US president around $ 2 billion.
The richest Americans on the Forbes magazine’s list
For the fourth time in a row, Amazon founder and CEO Jeff Bezos topped Forbes’ list, with a net worth of approximately $ 201 billion. The second is Elon Musk, creator of, among others Tesla and SpaceX, whose fortune is estimated at 190 billion dollars by Forbes, and the third – founder and head of Facebook Mark Zuckerberg with assets valued at over 134 billion dollars.
Main photo source: DAVID MAXWELL / EPA / PAP