Donald Trump has fallen off the coveted Forbes 400 list of the richest Americans in the country.
It's been a brutal 2023 for the former US President.
He's been indicted several times and is facing serious charges related to trying to overturn the 2020 election, paying hush money to Stormy Daniels, and taking classified documents from the White House.
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Trump has also had a fairly bit hit to his net worth, according to Forbes.
The outlet has registered Trump's net wealth at $2.6 billion for 2023, which is $600 million less than the $3.2 billion he recorded on the Forbes 400 last year.
Sadly for him, his worth is about $300 million short of making a spot on the list.
Forbes attributes the humungous drop in wealth to his social media network Truth Social.
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Trump launched the app after he was booted off all the competitors for claiming the 2020 election was rigged.
While he managed to get some followers shortly after launch, it has failed to be the powerhouse he was probably expecting.
Forbes wrote: "If Trump's platform were thriving, he would probably have no trouble finding alternate financing. But it's not, and there is little reason to be optimistic about Truth Social's future."
The outlet also claim the 77-year-old's office buildings have lost a staggering $170 million in value since last year.
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It's not all bad news for the former President.
His golf resorts have seen a decent surge in value from $108 million before the pandemic to almost $150 million in 2023.
Trump fell off the list back in 2021 and then regained a spot the following year after Truth Social's parent company was valued at $730 million.
It's now valued at around $100 million.
This recent news comes as Trump faces a damning $250 million civil lawsuit where he's been accused of misrepresenting his wealth.
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CBS says Trump and others at the Trump Organization allegedly provided banks with financial statements to manipulate property valuations.
The suit alleges the company has committed more than 200 instances of false asset valuations.
New York Attorney General Letitia James said: "Claiming that you have money that you do not have does not amount to the art of the deal, it's the art of the steal."
Her office is going for the jugular.
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She wants a judge to revoke the Organization's business certificate, have Trump and his children allegedly involved in the scheme to be banned from serving as an officer or director of any business in New York, and a five-year ban on the former President and the company from acquiring real estate in the state.
Topics: Donald Trump