Trump drops 220 spots on the Forbes Billionaires List
- Author: Zachary Reyes Mar 30, 2017,
Mar 30, 2017, 17:34
The 2017 list of the world's richest people as compiled by Forbes is out, with 233 new billionaires among 2,043 listed by the magazine.
Only four women billionaires from India feature in the list, led by Savitri Jindal at 303rd with a net worth of $5.2 billion.
Microsoft co-founder and philanthropist Bill Gates topped this year's rich list for a fourth consecutive year, with an estimated fortune of around $86bn.
While our Malaysian billionaires are nowhere near the likes of Bill Gates and Warren Buffet, it is notable that 12 of them were named in Forbes 2017 Billionaires List.
"Midtown Manhattan real estate is down; therefore, so is Donald Trump's fortune", the magazine said in a statement.
The collective worth of all the men and women on the Forbes list is US$7.67 trillion, up from US$6.48 trillion in 2016.
"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, said in a press release announcing the list.
The number of United States billionaires on the list was 565, which Forbes attributed to the recent stock market surge since Mr Trump's November 2016 election.
It is also noteworthy that the Asia Pacific region provided the most number of billionaires, totalling 720 with China alone supplying the most at 76 billionaires.
Check out the top ten below, then head over to Forbes for the full list. Others in the top 10 include Amazon founder Jeff Bezos (number three, ) Facebook founder Mark Zuckerberg (number five, ) Oracle co-founder Larry Ellison (number seven, ) and others. For the 2nd year running France's Liliane Bettencourt, the L'Oreal cosmetic heiress, was the world's most affluent girl using a $39.5bn net worth.
"After declining a year ago, the fortune of steel and power clan, whose matriarch Savitri Jindal chairs the OP Jindal Group, rose as steel prices recovered", Forbes said. "Lately, the neighborhood has been struggling (relatively speaking)". 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.
The magazine likewise said that his riches was hit by $66m in political spending on his successful presidential campaign, together with $25m to settle litigation pupils were supposedly ripped off by him at Trump University.
The U.S. president also would have missed the big stock market rally following his election, "assuming Trump sold off all of his stocks during last year's campaign, as he has claimed", the magazine said.