Donald Trump falls off Forbes list of richest 400 Americans
CBSN
Former President Donald Trump has fallen off the Forbes 400, the annual list of America's richest people, according to the financial magazine. It's the first time in 25 years that Trump hasn't been included on the list.
The former president's wealth stands at an estimated $2.5 billion, or about $400 million short of the amount he would have needed to be included in the latest rankings, Forbes said. Trump's wealth has remained steady from a year earlier, when he ranked as the 339th richest American, but he fell behind others whose wealth boomed amid a surge in tech stocks and cryptocurrencies during the pandemic, Forbes said.
The problem for Trump, the magazine said, is that his wealth is focused on big-city real estate holdings, ranging from hotels to condos. But the value of such properties have "languished" during the pandemic, it added.
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