Trump Drops Off Forbes List of Richest Americans

Former President Donald Trump has dropped off the Forbes list of the 400 wealthiest Americans, the magazine announced Tuesday.

Forbes estimated Trump’s net worth to be $2.6 billion, down from $3.2 billion at the same time last year. The $600 million delta is largely due to Trump’s social media platform, Truth Social, being worth far less than previously thought, according to the magazine. 

The platform has signed up 6.5 million users, according to Forbes’ calculations — a far cry from the company’s own predictions that it would have 40 million users this year. That led Forbes to reassess its parent company's value from $730 million to $100 million. 

“[T]here is little reason to be optimistic about Truth Social's future,” Forbes wrote. 

Trump’s real-estate portfolio has also lost about $170 million, Forbes calculated, noting a specific building in San Francisco’s struggling downtown that’s minority-owned by Trump. However, his golf course holdings are thriving, according to the magazine.

While the inclusion or exclusion from a list of the wealthiest Americans is of little tangible importance to anyone, let alone a billionaire former president running for reelection while also facing 91 felony counts, Forbes made note that the list is something Trump has “obsessed over for decades,” even “lying to reporters” to get himself ranked higher in past years.

Forbes published its annual rankings, which have Elon Musk in the top slot by a mile, just as Trump was in court in New York for a civil trial that accuses him of overstating his wealth for years.