Forbes magazine has dropped the former president
from its list of 400 richest Americans.
It's the second time in three years he has missed the cut.
CNN senior data reporter Harry Enten joins us now.
So how much money did the former president lose last year?
An astounding about $600 million.
And that, my friend, is a very rare thing given that
most of the people on the Forbes list, at least those in 2022 actually
gained worth 276 of those in the 400 gain worth.
Trump is just one of 24 who dropped off the list.
So 2023 might be a good year for a lot of us.
It hasn't been a good year for Donald Trump at least in terms of his worth.
What was the biggest financial loser for Trump?
A true social you know that's the social media platform that he belongs to.
You'll notice, you know, he doesn't really post on Twitter or X anymore.
And the big reason why is he owns 90% of true social.
And look at that.
It's worth dropped from more than 700 million to less than 100 million.
I guess part of that might be because
you and I don't aren't on that particular platform.
But the fact is we're a bunch of many who just simply have not decided
to take part in the truth social
media platform and if the former president had invested in the S&P 500
when he first landed in the Forbes 400 back in 1982,
how would his fortunes have tracked what do you made more?
Would he be more successful?
He'd have been a lot more successful.
I mean this is something
that simple financial advisers will tell you to do invest in the S&P.
500 it's gained about 10,000% since 1982.
Donald Trump has gained that worth he's gained about 2,500%.
But the fact is his net worth would be significantly better
if he had just taken the money he had in 1980 to invest in the S&P 500.
Look Donald Trump is still worth billions of dollars.
But the fact of the matter is it's not because he's
necessarily a good investor, it's that he started off with a lot of money
and basically was able to make money because the fact is once you have money,
it makes money. And Donald Trump's a good example of that.
The Trump, who you see here in this photo with a very serious look in his face,
is clearly frustrated in court today,
repeatedly throwing his hands up in the air, sitting with his arms crossed.
This comes
as Trump's lawyers officially announced he will appeal the judge's ruling.
But he and his company engaged in persistent fraud for years.
We'll talk about the chances of success there.
First, though, Barbara, she was an executive VP with the Trump Organization.
She worked with Trump for nearly two decades and is the author of Tower of Lies
What My 18 Years of Working With Donald Trump Reveals About Him.
All right, Barbara,
you and I have talked many times over the years
here, and I want to start with what we just played there.
Right.
Trump and the attorney general, Letitia, James.
The back and forth.
She says Trump's trying to bully her and engage in race baiting rhetoric.
He does repeatedly call her racist in general.
You know him well.
Are you right for pretty well?
Well, I did, yeah. Is she right when she
says you always did that?
I mean, you know, he's he's you know, he'll get into this.
I'm the least racist person in the world.
But he does love doing that.
And calling her an animal, too, is a very racist intent there. Yes.
So the images today of him inside the courtroom right now, we know.
Okay, first of all, he didn't have to show up at all.
As you know, he came on day one and people close to him said
it's just one day to make his point.
Then he came on day two in and he came on day three.
Now he's gone for a while.
We'll see when he comes back.
But he was very serious today.
I mentioned that he repeatedly threw his hands up in the air during the trial.
Arms crossed, but the hands being thrown up in the air.
What does this say to you about how focused on this he is, how worried he is?
I think that he's very concerned about what's going on,
but he's playing to his his his audience.
And I want to know he wants them to think that he's not afraid.
And that is just oh, this is such nonsense.
Throw your hands on the air. So
the state and the defense have listed him as a possible witness.
Right.
So in the Venn diagram, of witnesses, there he is in the middle.
His adult sons.
Also, though,
Don Junior and Eric on that list, the state also lists of Uncle Trump.
And she was not charged because of the statute of limitations
having expired or as as the reason.
But you believe Trump's children maybe should be more worried
about him testifying than the other way around?
Tell me why.
Well, they both have reason to worry about the other way.
Trump thrown under the bus and I have no doubt his own children. Yes.
Yeah.
I mean, he didn't treat them
when we're not when they were young or actually Eric was just a baby.
But Don, you know, he grew up and he just didn't he was very cold, distant.
He didn't really it wasn't a father I never thought of as a father.
Now, Ivana would bring the kids into the office and he'd have a fit.
You know?
And one time he was bragging about how they play Legos in his office.
Possible way do that?
No. You're saying they didn't want them? No Lego playing.
All right.
So, you know, amidst all of this, right at the core of this
and the reason he perhaps is in this trial is this is his life.
This is who he is. This is his persona.
This is his money.
Right. It's his definition. Of his of himself.
He today was dropped from the Forbes 400 list of richest Americans.
Now, most people on that list
kind of wish they weren't there because they don't want the publicity.
It's not true with him.
He was the one who would have his call and make the case for why
he should be higher on the list.
Forbes saying the reason is because of his social media platform,
truth social and his office buildings have lost value.
They say, 20% cut to his net worth.
Which puts him.
He doesn't make the cutoff for the Forbes list.
How much does he care about this?
Oh, Chad, I remember at the beginning when he I
guess was the first one, maybe he was thrilled three.
I mean, he was on the Forbes father yeah.
But after that, maybe a year or two,
he was angry that he wasn't higher.
And he was you know, he called them and he was threatening to sue them and
threatened to sue them because. Yeah, well, yeah, I don't know.
Yeah. Yeah. He was walking around saying, I'm going to sue them.
This is wrong.
This is a lie.
I'm but I have much more money in this now.
It was important to him.
He wants people to think that he was this great businessman.
He made all this money.
It's kind of ironic because he wasn't a great businessman at all.
And now and now he is not on that list.
And I know it seems it may seem silly, but but perhaps there's so much
I'm probably very, very upset about that.
That would be my gut. All right. Well, Barbara, thank you very much.
I appreciate your time. It's good to see you as a.