Donald Trump loses place on Forbes rich list for first time in 25 years – The Independent

Forbes has released its annual rich list and Donald Trump is one of 51 people to drop off it, marking the first time in 25 years the businessman has not been listed.

The pandemic appears to have upended the list, which was released on Tuesday, as familiar wealthy people, including Oprah Winfrey and Boston Beer co-founder Jim Koch, now no longer feature.

The top 400 rich people must now have a net worth of $2.9 billion, an increase of $800 million, to make the list. The former president has a reported $2.5 billion in 2021, according to Forbes. Mr Trump now ranks number 1299 in the list of wealthy individuals, having amassed his fortunes through real estate.

Mr Trump owns office buildings, branded hotels and resorts, plus golf courses. Similar services took a big hit during the pandemic, due to home-working and travel restrictions.

The top 400 rich people on the list, however, have made money despite Covid-19, with their collective fortunes increasing by 40 per cent, a total of $4.5 trillion.

“Despite the uncertainty and the ever-changing market economy, the 2021 Forbes 400 shows that America’s wealthiest have grown far richer,” said assistant managing editor of Wealth at Forbes, Kerry A. Dolan. “The wealthiest Americans collectively saw a 40 per cent increase over last year and nearly all are richer than they were last year.”

Newcomers to the list include bitcoin billionaires Cameron and Tyler Winklevoss, plus Melinda French Gates, co-chair of the Bill & Melinda Gates Foundation.

Amazon founder Jeff Bezos, worth an estimated $201 billion, ranks number one on the list. He stepped down as CEO in July 2021. Elon Musk of Tesla is in the number two spot, worth $190.5 billion, ahead of Mark Zuckerberg of Facebook, $134.5 billion, and Bill Gates, who has amassed $134 billion.

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