Former president Donald Trump has suffered another setback as he struggles to defend his corporate empire in court: he is no longer listed among the 400 wealthiest Americans on the Forbes list.
Trump's net worth decreased by 19%, or $600,000,000, to a total estimated value of $2.6 billion.
He was $300 million short of the threshold when Forbes published the list.
This means that Trump missed the cut for the annual rankings for the second time in three years, something he has long been fascinated with and has even been accused of cheating.
Unlike the Forbes 400 leaders Elon Musk, Jeff Bezos, and Larry Ellison, whose fortunes have remained stable or increased, Trump's net worth has decreased by double digits.
This comes as he battles civil and criminal allegations, including a civil fraud trial now pending in New York and numerous trials set for the following year.
According to Forbes, Trump's social media network and office buildings have both lost value, which is what caused his net worth to decline.
In February 2022, Trump created Truth Social intending to pose a real challenge to Facebook and Twitter.
Truth Social has yet to really take off, though.
According to Similarweb, Truth Social had roughly 738,000 monthly active users of its iOS and Android apps in the United States in August, down from approximately 1.3 million in December.
That amounts to less than 1% of users of iOS and Android for X (formerly known as Twitter).
The projected value of Trump's 90% interest in Truth Social was reduced by Forbes from $730 million to less than $100 million over a year.
What do you think is driving the decline in Donald Trump's net worth, and how might it impact his future endeavors?
Leave your comment below and share this on social media.