Mr. Trump left the top 400 richest people in America

Former US President Donald Trump's assets this year decreased by nearly 20%, to 2.6 billion USD, not enough to enter the group of 400 richest people in the country.

The list of 400 richest people in America published by Forbes earlier this week (Forbes 400) does not include the name Donald Trump. His assets decreased 19% to 2.6 billion USD, missing 300 million USD to reach the top.

This is the second time in 3 years that Mr. Trump is not included in this annual ranking. Trump is very interested in Forbes' publications. He was even accused of exaggerating his assets to get on this magazine's list.

The departure from the top 400 took place in the context of the former US President facing a series of legal challenges. This week, he appeared in New York state court to participate in the trial on charges of false declaration of assets and illegal profits. The following year, he also had to participate in many other trials.

Former President Trump at trial in Manhattan on October 2. Photo: Reuters

The two main reasons why Trump's assets have decreased are that his social network platform and the buildings he owns have lost value.

Mr. Trump launched the Truth Social social network in February 2022, advertising this as a threat to Facebook and Twitter. However, Truth Social did not develop as strongly as expected. In the US, this social network had 738,000 active users per month on iOS and Android apps in August. This number is down from 1.3 million last December, according to data analysis firm Similarweb.

That's why Forbes reduced the valuation of Trump's 90% stake in Truth Social from $730 million last year to less than $100 million this year.

The real estate empire of the former US President is also being strongly impacted. Research firm McKinsey Global estimates that remote working policies could wipe out $800 billion in value from office buildings globally.

San Francisco - where Trump's real estate empire is located - is especially affected by developments in the real estate market. Many businesses have left the city, such as Whole Foods, Target, Nordstrom and more recently Starbucks.

Forbes estimates the value of Trump's stake in 555 California Street has dropped 30%. His stake in 1290 Avenue of the Americas also decreased by nearly 60 million USD.

Trump's golf courses are not doing well right now. The former US President's cash, earned from book sales, speaking and business, has also remained unchanged in recent years. This number is currently 426 million USD.

Trump left the Forbes 400 list in 1990 and 2021, when he encountered many financial troubles. The Trump Taj Mahal hotel and casino complex filed for bankruptcy in 1991. Trump Castle Associates followed suit the following year.