(PatriotWise.com)- Former President Donald Trump took a substantial hit to his business and wealth by serving as the 45th President of the United States, with the Forbes billionaire list showing him drop down 300 spots this year.
The former president’s wealth has decreased by around $1 billion during the four years he spent in the White House. He now ranks 1,299 on the Forbes billionaires list, which was released on Tuesday this week, down from 1,001 four years ago.
Well, that will happen if the media smears you for four years straight and you don’t take a salary while serving as president, either. President Trump missed out on a total of $1.6 million in payment for his time spent in the Oval Office.
Interestingly, however, Forbes noted that Trump is now richer than he was this time last year, with valuations released on Tuesday actually being made right at the beginning of the candidate. According to Forbes, Trump slipped down on the list because he couldn’t maintain a pace of wealth increase that other billionaires saw in that time.
President Trump, famous for boasting about the size of his business, dismissed the story and said that it was appropriate for a president to lose money.
“That’s the way it’s supposed to be – a politician is not supposed to make money while in office, and a rich person should come out of office with less,” he said.
Hard to argue with that. Is Nancy Pelosi listening?
“That’s why people like me, because I am honest, unlike most politicians, I didn’t run for office to get rich,” Trump added. “I gave up billions of dollars to help save our country. I did a great job for the people on the border, the vaccine, our economy, our military, Space Force, the second amendment, and everything else.”
Trump also said that he was fortunate to have the “best properties and very little debt,” which sets him apart from other billionaire developers.
Not only did President Trump take a hit by leaving his business to serve the American people, but the COVID-19 pandemic and lockdown hurt his hotels, casinos, and office blocks – meaning there’s still room for the former president to grow his business and wealth again.