Bill Gates tops Forbes' rich list but Trump's wealth slips

Forbes found 2,043 people around the world were billionaires, with 233 becoming billionaires just within the a year ago.

Bill Gates remains in the top spot for the fourth year in a row and has been the richest person in the world for 18 out of the past 23 years. 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.

Facebook founder Mark Zuckerberg was number five and Oracle co-founder Larry Ellison was number seven. In October 2016, at the time of the release of the 2016 Forbes 400 list of wealthiest Americans, Forbes valued Trump's net worth at $3.7 billion.

With a current market cap of $390 billion, the Seattle-based retail giant is now worth more than the top eight traditional brick-and-mortar retailers combined, as Credit Suisse analysts led by Eugene Klerk mentioned in a recent note, Yahoo Finance reported.

Trump's dwindling net worth is going the other direction from many other billionaires during the past 12 months, who collectively saw their ranks swell to 2,043 worldwide with the addition of 233 newly minted billionaires, according to Forbes.

Also on the list is veteran banker Wee Cho Yaw, who has a net worth of US$5 billion, as well as Hong Leong Group chairman Kwek Leng Beng, with a net worth of US$2.7 billion. China is second with 319.

"Midtown Manhattan real estate is down; therefore, so is Donald Trump's fortune", the business magazine said in a statement. "Lately, the neighborhood has been struggling (relatively speaking)".

How Much is President Trump Worth Now?

But not all of the trends were negative for Trump. This is a slight drop from the 2016 list where Trump's fortune was listed at $3.7 billion.

The magazine estimated the worth of the Mar-a-Lago resort in Florida rose $25 million due to post-election exposure.

Amancio Ortega: Ortega co-founded the hugely successful high street Spanish retail chain Zara, and now boasts a net worth of $74 billion. Also new to the list is Japan's first self-made woman billionaire, Yoshiko Shinohara, who started a part-time staffing firm from her one-bedroom Tokyo apartment to help women get into the workforce.

  • Larry Hoffman