Donald Trump is now only worth $2.6 billion, meaning he’s been booted off the Forbes 400. He was $300 million off making the list.
Trump’s Office Buildings
In the last year, Trump’s net worth has dropped by over $600 million. His office buildings have fallen in value considerably, contributing to the large decline in wealth. However, a larger factor in the situation is the criminal defendant’s social media platform – Truth Social.
Lying to Reporters
Forbes said: “With an estimated $2.6 billion fortune, [Trump] is $300 million shy of the cutoff for the Forbes 400 ranking of America’s richest people, the annual measurement that Trump has obsessed over for decades, relentlessly lying to reporters to try to vault himself higher on the list.”
Trump and Truth Social
Trump boasts a 90% stake in Truth Social, which has around 6.5 million users. The value of the former president’s share has dropped from around $750 million to less than $100 million, accounting for a large portion of his losses.
An Unpopular Platform
Forbes said: “If Trump’s platform were thriving, he would probably have no trouble finding alternate financing. But it’s not and there is little reason to be optimistic about Truth Social’s future. After all, if people are not logging on to Trump’s platform to hear what he has to say now – while he is simultaneously facing a series of indictments and steamrolling the Republican presidential primary – they probably never will.”
Favorable Interest Rates
Among other legal troubles, Trump is facing a civil fraud trial that has the potential to put an abrupt end to his business career in New York. Prosecutor Kevin Wallace said: “While it may be one thing to exaggerate for Forbes, you cannot do it while conducting business in the state of New York. Year after year, loan after loan, the defendants misrepresented Mr. Trump’s net worth to maintain those favorable interest rates.”
Trump Is Rich
This isn’t the first time Trump has fallen off the rich list. He dropped off it in 1990, due to real-estate troubles, and then again in 2021 amid the pandemic. He made the list again the next year. “Make no mistake, Trump is extremely rich,” Forbes clarified.
The Internet’s Response
The news was quickly spread around the internet and commenters found delight in making fun of the criminal defendant’s misfortune. People imagined Trump’s childish reaction and some even criticized Forbes for believing his financial lies.
Reactions From Trump’s Fans
Trump’s fans didn’t speak up often. When they did, they usually blamed the drop in wealth on the Democrats and assured all other commenters that the former president would be back on the list next year. Some even said they felt sorry for him.
A National Tour
Some commenters were quite comedic with their responses. One such individual said: “You know, if he went on a national tour and let people kick him in the butt for $10 a ticket he’d have all his money back in less than three months. Just saying.”
Sucking Up to the Rich
Another individual said: “Forbes’ estimations are usually [terrible] and way over-generous as a means to [suck up to] the wealthy. This is most obvious when handling Trump. They should be able to easily total the true value of his properties but, instead, they seem to be going off his fake numbers.”
Trump’s Legal Troubles
Others discussed Trump’s legal situation and what it might be costing him financially. “I read an article that said the amount he is paying lawyers for himself and some of his compatriots is going to ruin him. I think it’s amazing people still donate money to his defense when he is supposedly so wealthy,” one person wrote.
Trump Underwater in Debt
Another commenter said: “He was always underwater in debt and lying about his worth. He never should have been on the list to begin with. Forbes was undoubtedly aware of that and one wonders how many other frauds they are propping up.”
Donald Trump’s Tactics
Plenty of commenters responded with sarcasm and satire. One such individual wrote: “I’m going to tell Forbes that next year I should be on the list because my $680,000 valued house is really worth, like, $7 billion and my name is easily worth $2 billion more.”
The Worst Thing to Happen to the U.S.
One commenter gave a very interesting assessment of Trump’s presidency. They said: “Not only was Trump being president the worst thing to happen to America, it was the worst thing to happen to Trump. Sure, he was able to grift and scam taxpayer money into his business and personal accounts – but all his crimes were dragged into the sunlight.”
Infuriating the Former President
People loved thinking about how much the development would likely infuriate the former president. “You know this personally will get under his skin. Given how, like I’m sure a normal rich person would do, he constantly projects how rich he is and argues with lawyers and judges who disagree with his own self-reported wealth of 20.9 quadrillion,” one person said.
Ultra-Rich Billionaire Image
Echoing the aforementioned commenter, another person said: “This is comedy at its finest. Trump doesn’t care about his criminal charges or anything like that. He only cares about his ultra-rich billionaire image. This will crush him and it’s beautiful”
Donald Trump’s Reaction
Others imagined Trump’s reactions to the news. “It brings me so much joy to imagine the tantrum he had behind the scenes upon hearing this news. I bet he was flapping about on the floor like a child. Maybe even throwing things and screaming too,” one commenter wrote.
A MAGA Opinion
Despite the criticism and mockery, Trump’s fans did speak up from time to time to time. One said: “Of course he’s losing money. He’s being forced to spend it all on clearing his name. Trump’s not to blame for this wealth drop. The Democrats and their politically motivated accusations are.”
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