Donald Trump has reportedly been booted from "the country’s most exclusive club," Forbes reported.
Trump is now $300 million short to qualify for The Forbes 400 ranking of America’s richest people. According to Forbes, Trump has "relentlessly" lied to reporters for decades in his attempts to boost himself higher in the list.
"His net worth is down more than $600 million from a year ago. The biggest reason: Truth Social, his social-media business. Trump once envisioned a significant percentage of the country logging onto the platform," Forbes reported. "But that never happened. Roughly 6.5 million have signed up so far, about 1% of the total on X (né Twitter). Trump’s 90% stake in Truth Social’s parent company has plummeted in value from an estimated $730 million to less than $100 million."
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Also losing value are Trump's office buildings, which are down by an estimated $170 million.
Forbes adds that it's not all doom and gloom for Trump's businesses.
"As fewer people spend time in the office, more are goofing off on the golf course. That’s especially good news for Trump National Doral, the former president’s most valuable golf property, purchased for $150 million in 2012."
Read the full report at Forbes.
