Forbes has again excluded former U.S. president and businessman Donald Trump from its annual list of the 400 richest American billionaires. The magazine’s assessment places Trump outside the elite cohort for the second time in the last three years, underscoring a notable shift in his personal fortune over recent seasons. According to Forbes, Trump’s net worth has declined by roughly $600 million since 2022, bringing his estimated wealth to about $2.6 billion. With the current numbers, he remains about $300 million short of re-entering the exclusive 400.
Forbes points to a mix of factors behind the decline. The social media venture Truth Social, which was anticipated to be a strong digital platform, is cited as one of the business ventures that did not meet market expectations. In addition, the report indicates that reductions in the value of commercial real estate holdings tied to the Trump brand contributed approximately $170 million to lowering his overall wealth. Taken together, these elements have influenced his position in the annual ranking, which tracks the wealth of America’s richest individuals.
Historically, Trump appeared on Forbes’ 400 list consistently from 1996 through 2021, marking a long stretch of sustained wealth recognition. The latest edition underlines a shift from a longstanding presence in the top tier to a position just outside the coveted group.
Meanwhile, October brought another headline in the same publication’s ongoing coverage of wealth. Elon Musk, the founder of SpaceX and chief executive of Tesla, again topped Forbes’ 400 richest Americans, reinforcing his status as a leading figure in the global business landscape and a persistent magnet for investor attention.
In related historical coverage, Forbes previously published a ranking focusing on the wealthiest women in Russia for 2023, illustrating how regional profiles of wealth can vary across markets and over time. The publication’s broader approach shows how wealth shifts touch individuals across industries, including politics, technology, real estate, and media ventures.