President Trump falls more than 200 spots on Forbes Billionaires List

Hannah Rogers
March 7, 2018

The estimate is well below Mr Trump's claim during the election campaign in 2015 that his net worth was "in excess of ten billion dollars".

Thanks to a 59 per cent rise in Amazon shares over the past 12 months, Bezos nearly doubled his fortune, taking it to US$120 billion, way ahead of Gates's US$90 billion - the biggest gap ever between the number one and two spots, Forbes said.

Microsoft founder Bill Gates dropped to No. 2 with $90 billion. Forbes said that jump amounts to the biggest one-year gain ever.

A record 2,208 billionaires feature on the magazine's 32nd annual ranking of the world's billionaires.

Luisa Kroll and Kerry Dolan, from Forbes Media, said: "The superrich continue to get richer, widening the gap between them and everyone else".

U.S. investment superstar Warren Buffett, who is worth $US84bn, is third.

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Canada has the largest share of steel imports to the United States at 16%, according to data from the Department of Commerce. "We will not sit idly while our industry is hit with unfair measures that put thousands of European jobs at risk", he said.

The richest person in Europe and fourth on the list is the boss of luxury goods firm LVMH, Bernard Arnault, who has a fortune of $US72bn.

It's Bezos' first time topping the billionaire's list.

Forbes released its 32nd Annual World Billionaires List on Tuesday, and although Griffin is No. 172 on the list, he places higher than any other Illinoisan.

Forbes cites the stock market, New York City's struggling retail real estate market and the "president's polarizing personality" among some of the reasons for the financial decline. "Forbes estimates that the value of Trump's most famous building declined $41 million in the previous year".

Trump also shelled out $25 million in settling lawsuits that alleged his Trump University real estate courses defrauded students. Gates, Zuckerberg, and Buffett are at least a $1 billion richer.

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