The release of the 2021 Forbes list has shown that Donald Trump’s standing has dropped almost 300 places since 2020.

The 45th president has lost millions on his retail locations, hotels and golf resorts in the last few years. Forbes explains that the reason the former President has lost so much has to do with the fact that he would not release his portfolio before taking office. He lost millions because stakeholders or prospects questioned his ethics as a businessman.

“By refusing to divest his portfolio upon taking office, Trump bogged down his presidency with ethics issues for years, while also missing a chance to cash in on a market boom he helped propel.”

He is now ranked No. 1,299, with an estimated worth of $2.4 billion.

Trump has been on the Forbes richest peoples list since 1982 when he had shares in his family’s riches. The majority of Donald Trump’s money now comes from real estate holdings, he prides his business for having luxury residential properties globally.