Former U.S. President Donald Trump was not included on the annual Forbes 400 ranking of the wealthiest Americans for the first time in 25 years, Forbes announced on Tuesday.
Trump has an estimated worth of $2.5bn (£1.8bn), leaving him $400 million short of the cutoff to make this year’s Forbes 400 list of America’s richest people.
The real estate mogul is just as wealthy as he was a year ago, when he stood at No. 339 on the ranking, but he is down $600 million since the start of the COVID pandemic.
While assets such as cryptocurrencies and technology stocks have thrived in recent months, the sort of city properties which form the bulk of Trump’s fortune have not done as well.
“If Trump is looking for someone to blame, he can start with himself,” Forbes pointed out.
“Five years ago, he had a golden opportunity to diversify his fortune. Fresh off the 2016 election, federal ethics officials were pushing Trump to divest his real estate assets,” Forbes said
“That would have allowed him to reinvest the proceeds into broad-based index funds and assume office free of conflicts of interest.”
From 1997 to 2016, the former president maintained a spot in the top half of The Forbes 400. But things took a turn for the worse the year he won the presidency. After five years of dropping in the rankings, he’s now completely off the list.