Donald Trump dropped from Forbes list of 400 richest Americans

• Donald Trump was dropped from Forbes’ list of richest Americans.
• They updated their list of the 400 wealthiest people in the US.
• What happened?

Donald Trump has been in a lot of legal trouble and it seems to be affecting his finances.

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Is Trump still rich?

Former US President Donald Trump has been dropped from Forbes magazine’s list of the 400 richest Americans.

This is because his fortune is estimated at $2.6 billion, which places him $300 million below the cut-off figure.

This was announced Tuesday by the magazine, which reports that his fortune is $600 million less than it was last year.

The main reason is his social network, Truth Social, has lost value.

Trump is in trouble again

Truth Social’s parent company, in which Trump is a majority owner at 90%, has fallen from an estimated value of $730 million to less than $100 million.

This is a reflection of its minority share in a market dominated by X (formerly Twitter) and its complicated IPO, which is not doing well.

Trump’s office buildings in San Francisco and New York have also lost value, affecting his fortune.

His office buildings have lost $160 million due to the spread of remote work and other factors, according to Forbes.

Donald Trump faces legal battles

The Forbes 400 list has «obsessed» Trump for years, who has lied to the magazine’s reporters in an attempt to rank higher.

Forbes reports his liquid assets now are an estimated $426 million.

The former president is currently facing civil proceedings in New York for fraud in the Trump Organization that endangers all of his businesses.

In the opening arguments, the prosecution pointed out that, in addition to lying to banks and insurers by inflating its figures, the company also deceived Forbes.

A difficult year for the former president

A judge has already declared that the Trump Organization is guilty of massive fraud.

Trump and his family have been banned from doing business in New York and he is facing considerable fines.

NY Attorney General Letitia James is asking for $250,000 in penalties and a ban on the Trump Org doing business in New York state, according to The Associated Press.

It has not been a good year for Trump, remembering that in August he surrendered to the authorities.

This isn’t the first time Trump has dropped off the Forbes list

According to EFE, this is not the first time that Trump has dropped from the Forbes list since he first made it in 1982.

According to Forbes, «He conned his way into sharing a spot on the inaugural list in 1982 with his father Fred Trump, by convincing a reporter that he held a larger percentage of Fred’s fortune than he actually did.»

When this came out in 1990 he was dropped from the list.

He made it back on to the list in 1996.