Donald Trump has been ejected from the Forbes 400 list as he battles to save his corporate empire.
The 77-year-old former president has been a mainstay of the annual list, comprised of the richest people in the US. He has been included every year except 1990, when his real estate empire was struggling, and in 2021 in the wake of his presidency and the Covid pandemic.
Ignoring inflation, the real estate tycoon’s estimated fortune of $2.6bn has fallen by $600m in the past year, allowing him to be overtaken by billionaire leaders of industries such as technology and cryptocurrency.
Trump is about $300m short of getting on the business magazine’s list this year, having ranked in 339th place 12 months ago.
The list’s authors said it was Trump’s own fault for not diversifying out of real estate.
And his fortune may well take a further hit, after a Manhattan judge ruled that Trump and his company, the Trump Organization, had committed fraud.
Landmark properties such as Trump Tower and 40 Wall Street could potentially be handed to receivers.
