Furious Trump lashes out at Forbes

Written by Henrik Rothen

Oct.10 - 2023 12:23 PM CET

Photo: Shutterstock.com
Photo: Shutterstock.com
Furious Trump lashes out at Forbes.

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Former U.S. President Donald Trump is not pleased about his exclusion from Forbes' annual list of the 400 richest people in America.

This marks the second time in three years that Trump has not made the cut.

Trump took to his social media platform, Truth Social, to express his dissatisfaction.

According to Business Insider, he criticized Forbes for employing "really dumb writers" tasked with targeting him. Trump also highlighted a poll indicating that 60% of Republicans would vote for him again and claimed he is far ahead of "Crooked Joe," referring to President Joe Biden.

Forbes releases its list of the 400 wealthiest Americans every year. To qualify this year, one needed a minimum fortune of $2.9 billion.

According to Forbes, Trump's estimated net worth stands at $2.6 billion, falling short by $300 million for a spot on the list.

One of the main reasons for Trump's exclusion, according to Forbes, is the significant loss in value of his social media company, Truth Social.

The platform has not gained the traction Trump had anticipated, with only about 6.5 million users so far, equivalent to roughly 1% of Twitter's total user base. Trump's 90% stake in Truth Social's parent company has plummeted from an estimated $730 million to less than $100 million.

Forbes also noted that Trump's equity has decreased by more than $600 million compared to last year, primarily due to the underperformance of Truth Social.