Trumps Plunges More Than 200 Spots Down Forbes's Billionaire List

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Trumps Plunges More Than 200 Spots Down Forbes's Billionaire List

Mr Gates, whose wealth is estimated to be around $86bn, beat second-placed Berkshire Hathaway chief executive Warren Buffett, whose fortune was cited to be around $75.6bn. For 2017, Michael Bloomberg ranked number 10 and the Koch brothers both shared the eighth spot.

Microsoft co-founder and philanthropist Bill Gates has defended his title as richest man in the world yet again, meaning that he has now taken the Forbes' top spot for four consecutive years.

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. Now worth $72.8 billion, he moved into the top three in the world for the first time, up from number five a year ago. This year Forbes ranked a record 2,043 billionaires. Kraft finished at the top of the rankings among Boston sports owners, beating Bruins owner Jeremy Jacobs ($4.3 billion, 402nd) and Red Sox owner (as well as owner and publisher of Boston Globe Media, the parent company of Boston.com) John Henry, who ranked 814th with a net worth of 2.5 billion.

"Midtown Manhattan real estate is down; therefore, so is Donald Trump's fortune", the business magazine said in a statement.

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He's the manager of Manchester United, one of the biggest clubs on the planet, the squad he's got, the players. I really enjoyed his work and his company during my two and a half years working with him.

The 2017 is longer than it's ever been before - Forbes estimates there are now 2,043 billionaires worldwide, up from 1,810 in 2016. It acknowledges some fortunes may have changed considerably even since then and that sorting out one's net worth is more complex when it is tied to a family fortune. Their average net worth is $3.75 billion, which means Trump is not even worth as much as the "average" billionaire. His wealth jumped to $72.8 billion, a gain of $27.6 billion from past year, Forbes said.

The total worth of people on the list amount to a huge £6.18 trillion - more than double the UK's annual gross domestic product.

While Mr. 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.

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