Trump plummets 300 spots on Forbes billionaires list as former president’s fortunes continue to tank

The former president would be a whole lot richer right now if he divested from his private businesses during his time in the Oval Office, report says

Chris Riotta
New York
Tuesday 06 April 2021 16:46 BST
Comments
Related: Seth Meyers roasts Donald Trump as a ‘financially broken ghost criminal’
Leer en Español

Former President Donald Trump plummeted on the Forbes billionaire ranks published on Tuesday, as the magazine reported he could have been billions of dollars richer had he divested from his private businesses during his tenure in the Oval Office. 

Falling 300 spots on the coveted list, the former president — who has long boasted about his status as a billionaire — Mr Trump qualified for No. 1,299 on this year’s Forbes billionaires list. 

The former president’s tanking fortunes drew stark comparisons to the massive amount of wealth the world’s wealthiest individuals had accrued over the last few years, as Mr Trump delivered substantial tax cuts for corporations and the richest Americans in the country.  His current net worth stands at $2.4 billion, Forbes reported.

Mr Trump’s network of hotels and golf courses faced financial hardship at several notable locations over the last several years, from his building on New York City’s iconic fifth avenue, which reportedly lost $217 million over his years in office, to his tower in the financial district, which lost an estimated $195 million.

Some entities Mr Trump owned during his time in office saw steady profits over the last several years, including 555 California Street in San Francisco, where Forbes reported key tenants — including Bank of America and Goldman Sachs — resigned leases despite distancing themselves from the former president.

Read more:

Mr Trump’s golf properties lost significant revenue, including the Trump National Doral in Miami, which saw revenue drop by nearly 40 percent. The former president spent much of his tenure visiting his own luxury properties and golf resorts.

Mr Trump placed on 1,001 on the list. His net work appeared to fall by nearly $700 million throughout his presidency, from an estimated $3 billion to $2.3 billion. Forbes had previously reported on the former president’s tanking fortunes last month, before updating its billionaires list in April. 

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in