U.S. President Donald Trump attends a news conference in the Rose Garden at the White House in Washington, U.S., July 14, 2020. REUTERS/Jonathan Ernst
Trump’s finances have taken such a nosedive that for the first time in a quarter-century, he is off the Forbes list of wealthiest Americans.
Donald Trump is worth an estimated $2.5 billion, leaving him $400 million short of the cutoff to make this year’s Forbes 400 list of America’s richest people. The real estate mogul is just as wealthy as he was a year ago, when he stood at No. 339 on the ranking, but he is down $600 million since the start of the pandemic. Technology stocks, cryptocurrencies, and other assets have thrived in the Covid era. But big-city properties—which make up the bulk of Trump’s fortune—have languished, knocking the former president out of the nation’s most exclusive club.
Trump was listed as having assets worth $3.5 billion after he won the 2016 election, but he lost $1 billion since he won the 2016 election, and has an additional $1 billion in loans coming due, and is facing potentially hundreds of millions of dollars in penalties from the IRS.
Trump is losing tenants in his buildings and needs a political comeback because politics appears to be his only source of income.
The myth of Donald Trump was built on false claims of business success and wealth, but the reality is that Trump is losing money, and at the trajectory that he is on, a failed political comeback in 2024 could lead to total financial ruin.
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