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for the first time in 25 years, Donald Trump Among the 400 people with the greatest fortunes in the world United State From Forbes magazine. According to the publication, he has “only” $2.5 billion (about R$13.69 billion), the same amount that last year ensured he would keep the 339 position.
However, this time around, he would need at least another 400 million US dollars (about 2.19 billion Brazilian reais) to be able to enter the arrangement. And he may have succeeded. However, according to the magazine, the former president has lost 600 million US dollars (about 3.28 billion Brazilian reais) since the beginning of the pandemic.
The news is sure to shake Trump, who has always flaunted his wealth, including when announcing his candidacy for president, when he insisted on including “I’m very rich” in his speech.
“I use my own money. I don’t use lobbyists. I don’t use donors. I don’t mind. I’m very wealthy,” he said at the time.
In addition, the former president has already been accused of inflating his wealth, claiming that he is richer than he really is. I have already announced repeatedly Who owns more than 10 billion dollars, more than double Forbes estimates it itself after interviewing more than 80 sources.
Trump also has a history of tax evasion, The New York Times revealed He faces a series of lawsuits on this issue.
Forbes attributes the damage to losses in the real estate sector, where most of Trump’s fortune is concentrated. He says the wrongful decisions of the entrepreneur led him to lose money.
If Trump is looking for someone to blame, he can start with himself. Five years ago he had a golden opportunity to diversify his fortune. After the 2016 election, federal ethics officials pressured Trump to divest his real estate assets. This would have allowed him to reinvest the profits in broad-based index funds and take over the job without a conflict of interest.
The magazine estimates that, at the time, he had about $3.5 billion in assets and, by some forecasts, anticipate what he would have made from sales, spend it on paying taxes, and anticipate how much he would have earned with other investments.
By putting $2.4 billion into an index fund that tracks the S&P 500, for example, Trump’s fortune has ballooned to $4.5 billion now, making him 80% richer than he is today. In other words, his refusal to abandon the investment cost him $2 billion,” he explains, in an estimate considered “conservative.”
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