Trump's fortune drops $1B since past year, Forbes says

Posted March 20, 2017

The top of the list remained unchanged - Microsoft founder Bill Gates led the rankings for the fourth year running with a fortune of US$86 billion, and Warren Buffett, worth US$75.6 billion, reclaimed number two spot from Amancio Ortega of Spanish clothing chain Zara. The Microsoft founder's net worth is $86 billion, up from $75 billion past year.

The highest ranking woman on the list was L'Oreal cosmetics shareholder Liliane Bettencourt, who was 14th with $39.5 billion.

Their combined net worth rose by 18 per cent to $7.67 trillion- also representing a new record.

Southeast Asia was home to the most billionaires at 720, Forbes said.

NEW YORK, March 20 While Donald Trump's political fortunes were rising, his net worth was dropping to a mere $3.5 billion, or roughly a third of what he claimed during his successful campaign for the USA presidency, according to the latest Forbes list of the world's billionaires. Bezos added $27.6 billion to his fortune to reach $72.8 billion and move into the top three for the first time.

Mark Zuckerberg: Facebook's co-founder, CEO and chairman holds a current net worth of $58.6 billion.

The U.S. continues to have more billionaires than any other nation, with a record 565.

US President Donald Trump dropped dramatically to 544th spot, according to Forbes.

China was second with 319 billionaires, and Germany was third with 114.

"Forty percent of Donald Trump's fortune is tied up in Trump Tower and eight buildings within one mile of it", Forbes said. "Lately, the neighbourhood has been struggling - relatively speaking".

The magazine also notes that he gave $66 million to his presidential campaign and paid $25 million to settle a lawsuit related to Trump University.

While Trump's net worth slipped, more people were qualifying for the list. Their average net worth is $3.75 billion, which means Trump is not even worth as much as the "average" billionaire.

But not all of the trends were negative for Mr Trump.

Rounding out the Forbes top 10, Amancio Ortega of Spanish apparel chain Zara was fourth; Mexican telecom tycoon Carlos Slim was sixth; the Koch brothers, United States conservative political activists Charles and David, were eighth and ninth; and former New York City mayor and Bloomberg News founder Michael Bloomberg was 10th.