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Bill Gates tops Forbes' rich list but Trump's wealth slips

21 March 2017

That's 13% more of them total in the world than past year, Forbes found. For 2017, Michael Bloomberg ranked number 10 and the Koch brothers both shared the eighth spot. 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 John Henry, who ranked 814th with a net worth of 2.5 billion.

American President Donald Trump has fallen 200 places in the list of richest people on the face of the earth.

Microsoft co-founder Bill Gates retained the top spot on Forbes " s "The World's Billionaires' list, with a fortune of $86 billion, up from $75 billion past year.

President Trump's hand, like his net worth, is smaller than he'd like.

Forbes says it calculates the wealth of the listed billionaires by using stock prices and exchange rates to calculate their net worth as of February 17, 2017. The total combined net worth of this year's billionaires is $7.67 trillion, up from $6.48 trillion last year. 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.

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Warren Buffett reclaimed the No. 2 spot on the list for the first time since 2014, with a net worth of $75.6 billion, up from $60.8 billion in 2016.

The other two being the co-founders of Snapchat. "In some cases, siblings and couples are listed together if the ownership breakdown among them isn't clear; however, they still must be worth on average a minimum of $1 billion apiece to make the cut", Forbes said in its statement. 238 inherited their wealth; another 434 inherited at least a portion but are still growing it.

Forbes' attributed his fall to the state of the Manhattan real estate market in which Mr Trump has invested a disproportionate amount of his fortune.

Trump has disputed Forbes' estimates in the past, particularly regarding the worth of his brand which - unlike real estate - is more hard to value.

Bill Gates tops Forbes' rich list but Trump's wealth slips