Donald Trump loses place on Forbes rich list for first time in 25 years

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Forbes Having released his annual rich list today, Donald Trump is one of 51 people to leave the list, the first time in 25 years the businessman has not been listed.

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The pandemic appears to have moved up the list as familiar wealthy people including Oprah Winfrey and Boston Beer co-founder Jim Koch.

To make the list the top 400 rich people must now have a net worth of $2.9 billion, an increase of $800 million. The former president is reported to have $2.5 billion in 2021, according to Forbes. Mr Trump now ranks 1299th on the list of wealthy individuals who have amassed their wealth through real estate.

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Mr Trump owns office buildings, branded hotels and resorts as well as golf courses. Similar services took a big hit during the pandemic due to the restrictions on work and work at home.

The top 400 rich people on the list, however, have made money despite Covid-19, with their collective wealth increasing by 40 percent, to a total of $4.5 trillion.

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“Despite the uncertainty and ever-changing market economy, the 2021 Forbes 400 shows that America’s richest people are far richer,” said the assistant managing editor of money in forbes, Carey A. Dolan. “The wealthiest Americans collectively saw a 40 percent increase over the past year and almost all are wealthier than last year.”

Newcomers to the list include bitcoin billionaires Cameron and Tyler Winklevoss, as well as Melinda French Gates, co-chair of the Bill & Melinda Gates Foundation. Amazon founder Jeff Bezos, worth an estimated $201 billion, is number one on the list. He stepped down as CEO in July 2021. Tesla’s Elon Musk is in second place with $190.5 billion, ahead of Facebook’s Mark Zuckerberg, $134.5 billion, and Bill Gates, who has earned $134 billion.

Credit: www.independent.co.uk / Forbes

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