former President Donald Trump Was excluded from Forbes’ 2021 list of the 400 wealthiest Americans, business and finance publication announced TuesdayTrump is not on this list for the first time in 25 years.
The former president is reportedly still a billionaire. Forbes estimates his net worth at $2.5 billion, or the same as last year, when he was number 339 on the list.
But the publication says the former president has slipped down the ranks due to his reliance on real estate holdings and refusal to secede from them.
The stock market has flourished during the coronavirus pandemic, which means America’s richest people have been able to reach new heights of wealth, as many workers bolstering their fortunes in the COVID-19 era have suffered . However, some property owners like Trump have struggled partly because more people have gotten by by working from home.
For example, there was a $100 million loan for Trump’s flagship tower in midtown Manhattan. Placed on “Watch List” On the reduction in occupancy rates by Wells Fargo last month.
Had it done so and reinvested in other sectors of the economy, Forbes informed of, Trump would still be able to count himself among the richest 400 Americans.
Meanwhile, the Trump Organization is under target of New York prosecutors, who accused his former chief financial officer, Alan Weiselberg, with a multitude of crimes in the summer.