Forbes magazine said on Tuesday, Oct. 3, that former US President Donald Trump is no longer wealthy enough to be featured on the Forbes 400 list.
Forbes assesses his net worth at $2.6 billion, which is a decrease from the magazine’s estimate a year ago of $3.2 billion, which won him a spot on the 2022 wealthy list.
Trump’s estimated net worth of $2.6 billion falls $300 million short of the threshold for inclusion on the Forbes 400 list.
According to the list, the richest person in America is Tesla CEO Elon Musk, who has a net worth of $251 billion.
The Forbes 400, according to Forbes, is a “annual measurement that Trump has obsessed over for decades, relentlessly lying to reporters to try to vault himself higher on the list.”
Trump’s removal from the Frobes 400 comes as he faces a civil fraud trial in New York, where he is accused of grossly exaggerating his wealth and the prices of many of his properties.
Trump dropped off this year’s list because Forbes estimated that his net worth had decreased by $600 million from the previous year. According to Forbes, the reduction is attributable to Trump’s social media company, Truth Social.
Truth Social has so far fallen short of Trump’s ambition for the social media platform. According to Forbes, Truth Social has only 6.5 million members, or around 1% of the users on X (previously known as Twitter).
