Trump slumps on Forbes billionaires list

Trump slumps on Forbes billionaires list

The magazine highlights the more than 2,200 billionaires around the world who hold a combined net worth of $9.1 trillion.

Amazon founder and CEO Jeff Bezos topped the list for the first time this year, according to Forbes. Forbes said that jump amounts to the biggest one-year gain ever.

Unlike Forbes, which made its calculations based partly on stock wealth on February 9 this year, Bloomberg updates its billionaires list every day.

Gates, the founder of Microsoft, slipped to second with an estimated worth of $90 billion.

Forbes identified a record 2,208 billionaires around the world in 2018, up from 2,043 previous year.

No. 4 is chairman and CEO of luxury goods company LVMH Bernard Arnault and his family, with $72 billion.

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Donald Trump has dropped more than 200 places in the Forbes world ranking of billionaires as his fortune slumped to an estimated $3.1 billion (£2.2 billion).

The list is published in Forbes's latest edition under the headline "The super-rich continue to get richer, widening the gap between them and everyone else".

President Donald Trump's net worth took another substantial hit over the last a year ago, dropping around $400 million since he took office, according to Forbes.

The business tycoon, with $3.1 billion is now ranked 766th this year, down from a 544th ranking last year. Within the last year, the value of Trump Tower - the 5th Avenue-based former home of the president in the center of the most expensive retail real estate in Manhattan - declined $41 million this year, Forbes estimated.

According to Daily News, Trump Tower, the President's NY home, lost an estimated $41 million in value a year ago.

Trump also lost out around a billion dollars in net worth in 2017.

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