The former president of the United States, donald trumpfell from the magazine’s list Forbes which groups the 400 richest Americanssince his fortune is estimated at 2.6 billion dollars, which places him 300 million below the cut-off figure.
It was announced yesterday by the magazine, which indicates in an article that the tycoon’s net worth has been reduced by 600 million dollars compared to last year, and The main reason is the dramatic loss of value of its Truth Social social network.
Truth Social’s parent company, in which Trump is the majority owner (he has 90%), fell from an estimated value of 730 million to less than 100 million, reflecting its minority share in a market dominated by X (formerly Twitter) and its complicated IPO, which did not prosper.
They have also influenced the losses in value of its office buildings in San Francisco and New Yorkdue to the prospects of lower employment in the future, which together have reduced some 160 million, details Forbes.
The list Forbes 400 has “obsessed” Trump for yearswhich “has lied incessantly to the reporters (of the magazine) trying to position itself higher” in the ranking, according to the article, which indicates that the most powerful asset it now has is cash, about 426 million.
The former president faces these days a civil suit in New York for fraud in the Trump Organization that jeopardizes their businessesand precisely in the opening arguments the Prosecutor’s Office pointed out that in addition to lying to banks and insurers by inflating their figures, they deceived Forbes.
Before the process began, the businessman already was found responsible for business fraud by the judge, who also canceled his operating licenses in the state, and in the ongoing trial he faces a fine for damages of up to $250 million and the possibility of a ban on business also in the state.
The former president was accused by the prosecutor Letitia James in a case in which his two children are also involved, Donald Trump Jr. and Ericas well as the former CFO of his company, Allen Weisselberg.
This week Trump appeared in court, where he denounced the case as a “scam” and a witch hunt. “It’s a farce (…) My financial statements are phenomenal”he claimed.
James’ lawsuit accused Trump and his company of a long list of lies in the financial statements he provided to banks. In a recent court filing, James’ office alleged that Trump exaggerated his wealth by as much as $3.6 billion.
It is not the first time that Trump falls from the list, which he accessed in 1982, “convincing a reporter that he had a greater percentage of Fred’s (Trump, his father) fortune” than he actually had, and that He left in 1990, when his debts came to light.
It was then on the list from 1996 to 2021and had rejoined after the announcement of Truth Social, which is now to blame for its new fall.
(With information from EFE and AP)