nsucurrent.com March 17, 2018

President Trump's Net Worth Tumbled Last Year. Here's What Changed

07 March 2018, 12:11 | Colleen Roy

Trump's fortune has dropped by $400m according to Forbes

Trump's fortune has dropped by $400m according to Forbes

Amazon chief Jeff Bezos is now the world's richest person, having snatched the top spot from Microsoft founder Bill Gates who slips to second place, according to Forbes Magazine's annual billionaires list published on Tuesday.

Trump dropped 222 places. Egyptian billionaire Nassef Sawiris with a net worth of $6.6 billion is the world's richest Arab, as Prince Al Waleed Bin Talal was excluded from the list.

Forbes said that Trump's fortune fell in part due to declining Manhattan real estate values, as well as lower revenues at several Trump golf properties.

Thanks to a 59 per cent rise in Amazon shares over the past 12 months, Bezos nearly doubled his fortune, taking it to US$120 billion, way ahead of Gates's US$90 billion - the biggest gap ever between the number one and two spots, Forbes said.

Forbes calculated that Bezos's fortune, which is mostly held in Amazon shares, increased by 39.2bn dollars over the past year. Last year, Pritzker ranked No. 3 in IL, with $3.4 billion.

Mr Gates has headed the list for 18 of the past 24 years.

Twelve out of the top 15 richest people are from the United States, with investor Warren Buffett in third place (with $84bn) and Facebook's Mark Zuckerberg in fifth ($71bn). No. 4 is chairman and CEO of luxury goods company LVMH, Bernard Arnault, and his family, with $72 billion.

The US has the most billionaires by country, with 585, followed by Greater China.

He's now worth an estimated $112 billion, up $39.2 billion from 2017.

The Forbes billionaires list takes a snapshot of wealth on February 9 that incorporates that day's stock prices and exchange rates from around the world. The magazine uses that day's stock prices and exchange rates from around the world.

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