Trump ditched Forbes’ richest Americans list for the first time in 25 years

Former President Donald Trump was excluded from the Forbes 2021 list of the richest 400 Americans, the economic and financial publication said on Tuesday, marking the first time in 25 years that Trump was not on the list.

The former president would still be a billionaire. Forbes estimates his wealth at $ 2.5 billion, the same as last year, when he was 339th on the list.

But the publication says the former president has slipped through the ranks due to his reliance on real estate and unwillingness to part with it.

The stock market flourished during the coronavirus pandemic, meaning America’s richest people were able to reach new heights of wealth as many workers who make their fortunes suffered in the COVID-19 era. Some homeowners like Trump, however, have struggled in part because more people have managed to work from home.

A $ 100 million loan to Trump’s flagship tower in Midtown Manhattan, for example, was placed on a “watch list” by Wells Fargo last month due to declining occupancy rates.

Trump’s refusal to secede from his business ventures throughout his presidency has earned him a torrent of criticism from ethics experts, including the former ethics director of the government’s Ethics Office , Walter Shaub.

Had he done so and reinvested in other sectors of the economy, Forbes reported, Trump would likely still be able to count himself among the richest 400 Americans.

Meanwhile, the Trump Organization remains in the sights of New York prosecutors, who have accused its former chief financial officer, Allen Weisselberg, of a slew of crimes over the summer.