Trump drops 220 spots on Forbes list of billionaires

Posted March 21, 2017

Warren Buffett was second after his net worth rose by almost $15 billion, to $75.6 billion.

Herb Simon, owner of the Indiana Pacers, is No. 717 on the list with $2.8 billion in net worth, up from $2.3 billion in 2014.

The 2017 list is longer than it has ever been before - Forbes estimates there are now 2,043 billionaires worldwide, up from 1,810 in 2016.

Their total net worth rose by 18% to USD7.67 trillion, also a record. Pharma tycoon Dilip Shanghvi ranks second with a fortune of $16.9 billion. Joining Gates in the top three is investor/philanthropist Warren Buffet, with a net worth of $75.6 billion and Amazon CEO Jeff Bezos, the biggest gainer on the list, with a net worth of $72.8 billion.

Gates' $86 billion in wealth tops 2,043 other billionaires - a number that jumped 13 percent from 1,810 a year ago.

The publication attributed his fall to the state of the Manhattan real estate market in which Mr Trump has invested a disproportionate amount of his fortune.

The US has the most billionaires with its 565, next comes China at 319, Germany is third with 114, and India with 101 takes fourth spot.

According to the list, Trump lost one billion dollars, with his worth dropping from 4.5 billion dollars to 3.5 billion dollars. He ranked 717th on the latest list, down from 612th a year ago. Jim Davis, the CEO of the Boston-based New Balance, finished in a tie for 315th place with a net worth of $7.1 billion.

The top five richest billionaires included some very familiar names.

Alhough famed Silicon Valley executives Mark Zuckerberg and Larry Ellison are in the top 10 with $56 billion and $52.2 billion, respectively, the technology industry did not dominate the front end of the list.

Twenty-three of the world's tech billionaires are under the age of 40, including the world's youngest self-made billionaire, John Collison, who cofounded payments startup Stripe with his brother Patrick Collison. She is worth $7.4 billion.

The magazine said that other billionaires on the list had a tendency of complaining that their estimate was too high rather than too low. Mainland China had the most new 10-figure fortunes with 76.