Trump Falls 298 Places on Forbes’ Billionaires List Since He Became President
If he had divested and put the money in an S&P 500-tracking fund, he’d be $1.6 billion richer, Forbes reportsAndrea Towers | April 6, 2021 @ 10:05 AM Last Updated: April 6, 2021 @ 10:11 AM
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Over the course of Trump’s presidency from 2017-2020, his fortune fell drastically from $3.5 billion to $2.4 billion putting him down 298 spots in the billionaire rankings. The numbers, reported by Forbes, come largely from the fact that Trump decided not to divest his assets when he moved into the White House.
According to Forbes, if Trump “had sold everything on Day 1, paid the maximum capital-gains taxes on the sales, then put the proceeds into a conflict-free fund tracking the S&P 500, Trump would have ended his presidency an estimated $1.6 billion richer than he is today.”