The Forbes billionaires list features a number of wealthy locals

While Donald Trump's political fortunes were rising, his net worth was dropping to a mere $3.5 billion, or roughly a third of what he claimed during his successful campaign for the US presidency, according to the latest Forbes list of the world's billionaires.

U.S. President Donald Trump came 544th with assets worth $3.5 billion.

Microsoft co-founder Bill Gates is at the top of Forbes magazine's annual list of the world's billionaires that was released Monday.

Fast-fashion magnate Amancio Ortega, who owns the Zara chain, is No. 4 with a net worth of $71.3 billion, while Facebook founder Mark Zuckerberg rounds out the top five with a net worth of $56 billion.

A record 2,034 billionaires made this year's list, with a collective net worth of $7.67 trillion.

Gates' fortune grew from an estimated $75 billion a year ago to $86 billion in 2017. For 2017, Michael Bloomberg ranked number 10 and the Koch brothers both shared the eighth spot.

Irsay, 57, saw his net worth rise from $2.3 billion to $2.5 billion, but his position on the list dropped from 771st to 814th.

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

With the continuous growth of DoubleDragon Properties, Edgar Sia became the youngest Filipino to be included in this year's list, landing at the 1940 place with a net worth of $1 billion.

Regionally, Asia-Pacific boasted the most billionaires, with 720 billionaires, followed by the United States with 565 and Europe with 530. The Kwee family, which attributes most of its wealth to real estate, has a net worth of US$5.1 billion. India is home to world's fourth highest number of billionaires with Reliance Industries chief Mukesh Ambani leading the club of more than 100 super rich Indians, according to the list. 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 a year ago. But the list also contained 15 new "self-made" women, mostly from Asian countries, including Vietnam's Nguyen Thi Phuong Thao of budget airline VietJet air.

  • Larry Hoffman