This year’s Forbes magazine’s rich list has shown Donald Trump to slip 200 places from the 544th richest person in 2017 to 766th in 2018.
The magazine said that the US President’s net worth had decreased by $400 million due to “a tough New York real estate market, particularly for retail locations; a costly lawsuit and an expensive presidential campaign”.
At the top of the list stood Jeff Bezos, founder and chief executive of Amazon (NASDAQ: AMZN). Bezos has a fortune worth $112 billion and is currently the world’s richest person. His wealth grew in the past year from an estimated $39.2 billion last year.
In second place is Microsoft (NASDAQ: MSFT) co-founder, Bill Gates, who is worth $90 billion. Gates has occupied first place and has been declared the world’s richest man for 18 of the past 24 years. His fortune increased in the past year but he wealth did not grow as significantly as Bezos’.
This year’s rich list is the magazine’s latest edition, entititled “The super-rich continue to get richer, widening the gap between them and everyone else”.
Third on the list is Warren Buffett. Together, Buffett, Gates and Bezos own the same wealth as the poorest half of the US population, according to a report.
“The superrich continues to get richer, widening the gap between them and everyone else,” said Luisa Kroll and Kerry Dolan, from Forbes Media.
The report read: “Our wealthiest 400 now have more wealth combined than the bottom 64 percent of the US population, an estimated 80 million households or 204 million people,”
“That’s more people than the population of Canada and Mexico combined,” it added.
The magazine’s 32nd ranking of the world’s billionaires had a record 2,208 billionaires featured. The world’s 2,208 billionaires collectively own $9.1 trillion, which is over three times the UK’s gross domestic product.