Donald Trump has been removed from a global billionaire index. The financial house of cards owned by Donald Trump is starting to fall apart. The Republican front-runner for president, who has prioritized his personal riches throughout his campaign since 2016, has dropped out of the Bloomberg Billionaires Index. As of Tuesday, Trump is no longer eligible for the list, which is a daily ranking of the 500 richest people worldwide.
This setback comes only a few days after the price of Trump Media stock fell and two major investors in the merger of Truth Social’s parent company, Trump Media and Technology, and a shell business, Digital World Acquisition Corporation, were accused of engaging in insider trading.
Following the disclosure that the surety firm supporting the $175 million bond in his civil fraud trial is insolvent, unlicensed in New York, and may not have truly promised to pay the penalty if Trump cannot come up with the money, Trump has already been straining to establish his riches.
Since its launch in March, Trump Media’s $8 billion initial valuation has dropped to half of its original amount. The decline in value doesn’t do much to refute claims that Trump may be planning to pump and dump the stock in order to use the money from his gullible fans to pay off his rising legal bills. Even while this latest disgrace is primarily a cosmetic knock to his net worth, it’s still possible that, in the end, he’ll have managed to convince enough of his supporters to pay off a portion of the judgments against him. He is not allowed to sell or borrow against his shares of Trump Media for six months. But in the interim, Trump has turned into just another billionaire who has momentarily disgraced himself.
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