Forbes' Billionaires List: Amazon CEO Bezos Is Biggest Gainer, Cracks Top 3

Forbes' Billionaires List: Amazon CEO Bezos Is Biggest Gainer, Cracks Top 3

HollywoodLifers, are you surprised Trump plummeted down so low on the list?

Donald Trump's wealth shrunk by $1 billion over the past year, according to an annual tally by Forbes magazine. During the campaign he said that he was worth $8.7 billion and said previous year in a personal financial disclosure form filed with the federal government that his net worth was "in excess of $10 billion". The total combined net worth of this year's billionaires is $7.67 trillion, up from $6.48 trillion last year.

First and second place are occupied by Bill Gates and Warren Buffett, according to Forbes, with fortunes of $86 billion and $75.6 billion, respectively.

The US 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. Jeff Bezos, who founded Amazon, and Facebook creator, Mark Zuckerberg, are No. 3 and 5, respectively.

This is a slight drop from the 2016 list where Trump's fortune was listed at $3.7 billion. Bill Gates has topped the Forbes list for 18 out of the past 23 years.

More news: Trump Wiretapping Claims Dominate Intelligence Hearing

Elsewhere in the rankings, financial magnates with local origins and business leaders associated with Massachusetts-based companies were among the record 2,047 billionaires on this year's list. Additionally, those who gained billionaire status exceeded those who lost it by three to one.

Notable newbies include Patagonia sportswear founder Yvon Chouinard; Viking Cruises founder Torstein Hagen of Norway; US hedge fund tycoon Cliff Asness and two of his partners; and John and Patrick Collison, Irish citizens who cofounded San Francisco-based Stripe, which enables online payments.

The number of USA billionaires on the list was 565, which Forbes attributed to the recent stock market surge since Mr Trump's November 2016 election.

The sole American self-made woman newcomer is Thai Lee, who was born in Thailand but moved to the U.S. as a child and now runs tech reseller SHI, reportedly the nation's largest woman-owned business by sales. "Rinehart took her late father's bankrupted estate and rebuilt it into something much larger", says Forbes.

Related Articles