According to Forbes, Donald Trump is no longer one of America’s richest 400 people. World

According to Forbes, Donald Trump is no longer one of America's richest 400 people.  World

For the first time in 25 years, Donald Trump is out of the list of 400 people with the greatest fortunes in America From Forbes magazine. According to the publication, he has “only” US$2.5 billion (approximately R$13.69 billion), the same amount that guaranteed last year that he would retain the position of 339.

However, this time he would need at least US$400 million (about $2.19 billion) to enter the rankings. And it may have been successful. However, according to the magazine, the former president has lost US$600 million (about $3.28 billion) since the start of the pandemic.

The news should certainly shake Trump, who has always flaunted his wealth, including when announcing his candidacy for president, when he insisted on including the phrase “I’m so rich” in his speech.

“I’m using my money. I’m not using lobbyists. I’m not using donors. I don’t mind. I’m very rich”, he said at the time.

In addition, the former president has already been accused of increasing his fortune, claiming that he is richer than he actually is. He has already repeatedly declared those who owned more than $10 billion, more than double Estimated by Forbes after interviewing more than 80 sources.

Trump also has a history of tax evasion. Revealed by “The New York Times” And the matter faces a series of court cases.

“If Trump is looking for someone to blame, he can start with himself. Five years ago he had a golden opportunity to diversify his fortune. Fresh from the 2016 election, federal ethics officials pressured Trump to divest his real estate assets. This would have allowed them to reinvest profits in broad-based index funds and take the job without conflict of interest,” says Forbes.

The magazine estimated that at the time, he had approximately US$3.5 billion in assets and, through some estimates, predicts what he would have done with the sale, spent it on paying taxes and estimated that How much could he earn with others?

For example, by pouring $2.4 billion into an index fund that tracks the S&P 500, Trump’s fortune would now increase to $4.5 billion, making him 80% richer than he is today. In other words, their refusal to divest would cost them US$2 billion”, he exemplifies in an estimate considered “conservative”.

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About the author: Muhammad Wayne

Wayne is a reporter who covers everything from oil trading to China's biggest conglomerates and technology companies. Originally from Chicago, he is a graduate of New York University's business and economic reporting program.

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