Paul Foster moves up on Forbes billionaire list

"We list individuals rather than multigenerational families who share large fortunes, though we include wealth belonging to a billionaire's spouse and children if that person is the founder of the fortune", the magazine says. Peterffy is worth $13.8 billion, coming in at No. 82 on the Forbes' list.

He was followed by Zara boss Amancio Ortega with US$71.3b ($101b), and then Facebook founder Mark Zuckerberg in fifth place with an estimated value of US$69.1b ($98b). And unlike Trump, Gates says his goal is to give every last dollar of that away to charitable causes through the Bill and Melinda Gates Foundation.

The traditional bronze place went to Amazon's Jeff Bezo, who accumulated an additional $27.6bn to his fortune since a year ago when he was ranked as the fifth richest person in the world.

Mr Gates, whose wealth is estimated to be around $86bn, beat second-placed Berkshire Hathaway chief executive Warren Buffett, whose fortune was cited to be around $75.6bn. He claimed the number three spot on the list, up from five.

The richest United Kingdom residents are the banking-to-cable television Hinduja family with a combined wealth of $15.4bn. Boston Latin School alum and former Viacom CEO Sumner Redstone is No. 288 on the list with $5.4 billion, while Jim Davis, boss of the Boston-based sneaker company New Balance, is No. 315, with $5.1 billion.

There are only 12 women in tech on this year's billionaires list, seven of whom made their own fortunes.

Shopping mall tycoon Henry Sy is named the top billionaire in the Philippines with a net worth of USD12.7 billion.

The Microsoft co-founder has been named the richest person in the world 18 out of the past 23 years.

Charles and David Koch, who operate a slew of businesses that range from paper towels to mining, were tied for eighth place with US$48.3 billion each.

Goodnight ranks No. 137 on the new list.

Mr Chandler is estimated to be worth $US1.91 billion ($NZ2.7 billion), a drop from US$2.45 billion ($3.5 billion) in 2016.

Rising oil prices are also cited another key reason for the rise in the fortunes of some other of the wealthy people on the Forbes list.

  • Zachary Reyes