Filipino tycoons included in Forbes' list of world's richest

Trump's current $3.5-billion net worth compares with $3.7-billion in October, when Forbes published its list of the 400 wealthiest Americans and a month before his Election Day upset against Democrat Hillary Clinton.

Much of Trump's slide, the publication said, is linked to a drop in the value of real estate in midtown Manhattan.

The total worth of people on the list amount to a huge £6.18 trillion - more than double the UK's annual gross domestic product.

"Booming stock markets, higher commodities prices and plain old-fashioned entrepreneurship helped make this a record year in terms of wealth creation around the globe", said Luisa Kroll and Kerry Dolan, Assistant Managing Editors of Wealth at Forbes Media.

Ironically the list comes out the same day that Trump met with Bill Gates, who is the world's richest man for the fourth straight year, according to Forbes.

The full list of billionaires can be seen here. Besoz showed the biggest increase, with his net worth shooting up from $27.6 billion from previous year.

The Microsoft founder's net worth is $86 billion, up from $75 billion previous year.

Among the top 10 billionaires, Gates was followed by Berkshire Hathaway chief Warren Buffett, whose wealth was estimated at US$75.6 billion, an increase of US$14.8 billion from a year ago. They include 10 from China as well as Vietnam's first female billionaire, Nguyen Thi Phuong Thao, who took her budget airline, VietJet Air, public in February. That was enough to move Bezos to third on the list from fifth a year ago.

The 31st annual billionaires list notes 233 more billionaires (13 percent) than were included on the 2016 roundup. His net worth surged to $75.6-billion from $60.8-billion. Jeff Bezos, who founded Amazon, and Facebook creator, Mark Zuckerberg, are No. 3 and 5, respectively.

While the Asia-Pacific region boasted the largest number of billionaires, by country, the U.S.led the way with 565.

While we as a nation continue to try and dig into how many conflict of interests deals our President has going on, we at least know that his business empire took a bit of a loss previous year.

  • Leroy Wright