Former President Donald Trump has once again been eliminated from the highly coveted Forbes 400 list of the wealthiest Americans as he faces trial for allegedly overinflating the value of his many …
Tish’s fraud case against Trump: Letters to the Editor — Oct. 4, 2023Trump’s Tower and these other NY properties could be lost in $250M civil fraud case
The main reason for Trump’s financial decline is his stalled deal to merge his Truth Social platform with his other assets in a special purpose acquisition company, or SPAC, according to Forbes — something he announced he would do just weeks after previously falling off the list in 2021. “If Trump’s platform were thriving, he would probably have no trouble finding alternate financing,” the Forbes editorial board wrote.“After all, if people are not logging on to Trump’s platform to hear what he has to say now — while he is simultaneously facing a series of indictments and steamrolling the Republican presidential primary — they probably never will.”
“Trump secured massive loans that led to massive bankruptcies, and he fell off the list in 1990, when Forbes exposed deep problems with his debt-fueled empire, ultimately putting his net worth ‘within hailing distance of zero.’”The former president is facing a a $250 million civil trial in the Manhattan Supreme Court over claims he exaggerated his net worth in financial statements to get better loan and insurance terms.
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