On Monday, former President Donald Trump lambasted Forbes for ousting him from its list of the 400 wealthiest Americans, a lineup that boasts names like Elon Musk, Jeff Bezos, and Warren Buffett. Trump dismissed the financial publication as having lost relevance long ago, claiming it knew less about him than individuals like Stormy Daniels and Rosie O’Donnell, both of whom have been entangled in past controversies with the ex-president.
Venting his frustration on his Truth social media platform, Trump alleged Forbes’ partiality and declared the publication as “China-owned,” tying it to China’s sovereign wealth fund. He even referred to a failed deal involving the fund’s investment in Forbes, attempting to take the magazine public.
“China owned (China Investment Corp, the Country’s Sovereign wealth Fund!), and very badly failing, Forbes ‘Magazine,’ which lost most of its relevance long ago, and which knows less about me than Stormy Daniels (who doesn’t know me at all!) or Rosie O’Donnell, took me off their Fake Forbes 400 list, just by a “whisker,” even though they know that I should be high up on that now very dated and discredited ‘antique.’,” Trump ranted.
“They are working with the Racist and highly incompetent, job killing Attorney General of New York, Letitia ‘Peekaboo’ James, who has allowed Murder and Violent Crime in the State to hit epidemic levels,” he continued. “China owned Forbes is a participant in the Election Interference Scam, and after what I have done to China, with hundreds of billions of dollars being paid to the USA, who can blame them? For years Forbes has attacked me with really dumb writers assigned to hit me hard, and I am now up 60 Points on the Republicans, and beating Crooked Joe by a lot. So much for Forbes!
In a subsequent post he wrote, “This is why Forbes is always after TRUMP – CHINA OWNS THE ‘RAG.’ They should be forced to sell – ALL PROPAGANDA. Now working with crooked New York A.G., Peekaboo James. Did they tell the judge that Mar-a-Lago is only worth 18,000,000? RIGGED TRIAL! ”
Responding to Trump’s tirade, Forbes elucidated that his exclusion from the elite list was due to underwhelming performance in his portfolio, notably citing the drastic depreciation of Truth Social’s value. The platform, where Trump made these remarks, had failed to meet the lofty expectations he once set.
Forbes underscored the broader implications of Trump’s financial standing, bringing attention to New York Attorney General Letitia James’ accusations of Trump inflating his net worth by billions. A surprising court order, likened to a “corporate death penalty,” was issued, accusing Trump of years-long fraud.
The former president’s legal team swiftly appealed, putting the decision on hold for now.
Despite Trump’s persistent claims of Forbes being China-linked, the magazine clarified that it was outdated information. The majority stake in Forbes was acquired by automotive tech tycoon Austin Russell, with China’s sovereign wealth fund holding a minimal share. Trump’s references to the fund’s involvement were tied to a shelved deal to take Forbes public through a special-purpose acquisition company (SPAC).
