Trump Is , Knocked Off, ‘Forbes 400’ List.
For the first time in 25 years, the former president is not on the list of America's richest people.
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On Oct.
5, 'Forbes' revealed that Trump is now worth about $2.5 billion.
That is $400 million short of what was needed to make the cut this year.
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Trump began to drop in the rankings after he became President of the United States.
Additionally, the publication claims he lost $600 million since the start of the pandemic.
Trump decided to keep his assets instead of diversifying his fortune five years ago.
After paying capital gains taxes, he would have been left with $2.4 billion.
According to 'Forbes,' , if he would have put $2.4 billion in an index fund tracking the S&P 500, his wealth would have increased to $4.5 billion.
'Bloomberg' estimates that the value of Trump's commercial real estate properties fell by 26% over the past five years.
