19 October 2018
Bill Gates saw his wealth grow US$11 billion last year, according to Forbes. Photo: Reuters
Bill Gates saw his wealth grow US$11 billion last year, according to Forbes. Photo: Reuters

Bill Gates again tops Forbes rich list; Trump slips 220 spots

Microsoft co-founder Bill Gates topped Forbes magazine’s list of the world’s super-rich for the fourth straight year, while US President Donald Trump has slipped more than 200 spots on the annual list.

According to the US publication’s latest global rich list, Gates grew his wealth by US$11 billion during 2016 to US$86 billion, ranking as the richest person in the world for 18 of the past 23 years. 

Among the top 10 billionaires, Gates was followed by Berkshire Hathaway chief Warren Buffett, whose wealth was estimated at US$75.6 billion, an increase of US$14.8 billion from a year ago.

Amazon founder Jeff Bezos moved up to number three, with the biggest gain of any person on the list, as his fortune jumped US$27.6 billion to US$72.8 billion, Agence France-Presse reports.

Facebook creator Mark Zuckerberg was number five and Oracle co-founder Larry Ellison was number seven.

There were 183 tech billionaires in all, with their combined wealth estimated at US$1 trillion. 

The global population of billionaires jumped 13 percent from the previous year to a record 2,043, the biggest annual rise since the magazine began compiling the list 31 years ago. 

The US had the most billionaires with 565, while China was second with 319, and Germany was in the third spot with 114. 

US President Donald Trump saw his rank slide 220 spots on the list to 544, with his wealth now estimated at US$3.5 billion, a decline of US$1 billion from last year.

Forbes attributed the drop in Trump’s fortune to a slowdown in the midtown Manhattan real estate market. 

“Forty percent of Donald Trump’s fortune is tied up in Trump Tower and eight buildings within one mile of it,” Forbes said. “Lately, the neighborhood has been struggling (relatively speaking).” 

Among others on Forbes rich list, Alibaba founder Jack Ma was ranked 23 with estimated wealth of US$28.3 billion.

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