Real estate mogul and former President Donald Trump fell off Forbes’ list of the United States’ 400 richest people this year, ending a more than two-decade run.
Trump, whose estimated net worth is $2.5 billion, came up $400 million short of the cutoff, falling from the list for the first time in 25 years, Forbes reported Tuesday.
Forbes blames his current absence from the list on his failure to diversify his assets from real estate to other thriving assets, such as technology stocks, amid the COVID-19 pandemic.
Amazon founder Jeff Bezos, who has a net worth of $177 billion, topped the list for the fourth year in a row.
Bezos also owns Blue Origin, an aerospace company.
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Meanwhile, Trump’s net worth remains unchanged from when it plummeted $600 million last year as the pandemic hampered his travel-related businesses like office space, hotels and golf courses.
Though Trump boasted of his wealth in his presidential announcement in 2015, saying “I’m really rich,” his rankings plunged after he won the presidency, and continued to lower over his time in office, falling to 339th before he fell off the list this year, a Forbes graphic shows.
Trump ranked in the top half of the Forbes 400 list from 1997 to 2016, and started his run on the list in 1996 with a ranking of 368th.
Another notable person to drop off the list this year was media mogul Oprah Winfrey, who has a net worth of $2.6 billion, and fell $300 million short of the cutoff this year. She first appeared on the list in 1995 when she had a net worth of $340 million.
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