America’s richest may be getting richer but President Donald Trump’s fortune has slid by $600 million to $3.1 billion, according to a list of 400 billionaires released by Forbes magazine on Tuesday.
Microsoft co-founder Bill Gates topped the list for a 24th consecutive year on a net worth of $89 billion with Amazon’s Jeff Bezos, worth $81.5 billion, number two.
But Trump, the first US president to come solely from the private sector, is ranked 248 — sharing the spot with 27-year-old Snap co-founder and CEO Evan Spiegel, the youngest person on the list.
Down: Forbes attributed Trump’s decline from $3.7 billion to $3.1 billion in their annual estimate to a weakening New York real estate market, and new information about his assets.
Forbes attributed Trump’s decline to a weakening New York retail and office real estate market, and new information about his assets. The Manhattan tycoon ranked 156 in 2016, the year he was elected to the White House.
Forbes said those on its 36th annual list of the 400 wealthiest Americans have a record-breaking, combined total net worth of $2.7 trillion, up from $2.4 trillion in 2016. Entrance to the exclusive club cost a record breaking $2 billion.
There were 22 newcomers, including Netflix cofounder and CEO Reed Hastings. Twenty-six people dropped off from last year, including US Commerce Secretary Wilbur Ross.
There were only 50 women on the list. Alice Walton, the daughter of Wal-Mart founder Sam Walton, was the highest ranked at 13. Unlike her brothers, she has focused on curating art rather than working for Wal-Mart.
The biggest gainer in dollar terms was Facebook’s Mark Zuckerberg, chalking up a $15.5 billion increase in net worth to retain his number four ranking at $71 billion.
MEET THE 10 WEALTHIEST… AND SOME OTHER BIG NAMES
1. Bill Gates, 61. Microsoft co-founder. $89 billion – up $9 billion
2. Jeff Bezos, 53. Amazon founder and CEO. $81.5 billion
3. Warren Buffett, 87. Berkshire Hathaway CEO. $78 billion
4. Mark Zuckerberg, 33. Facebook co-founder and CEO. $71 billion
5. Larry Ellison, 73. Oracle co-founder and chairman. $59 billion
6 (joint wealth). Charles Koch, 81. Koch Industries chairman and CEO. David Koch, 77. Koch Industries exeuctive vice-president. $48.5 billion
8. Michael Bloomberg, 75. Bloomberg founder and CEO. $48.8 billion
9. Larry Page, 44. Google co-founder and CEO. $44.6 billion
10. Sergey Brin, 44. Google co-founder and president. $43.4 billion
13. Alice Walton, 68. Crystal Bridges Museum of American Art chairman, and daughter of WalMart founder Sam Walton. $38.2 billion
16. Jacqueline Mars, 78. Owns one-third of candy giant Mars. $25.5 billion
24. Laurene Powell Jobs, 53. Emerson Collective president, widow of Apple co-founder Steve Jobs. $19.4 billion
Youngest billionaires (ranked by age)…
248. Evan Spiegel, 27. Snapchat co-founder and CEO. Bobby Murphy, 29. Snapchat CEO. $3.1 billion
33. Lucas Walton, 31. WalMart founder Sam Walton’s grandson. $13.2 billion
206. Rishi Shah, 31. Outcome Health co-founder and CEO. $3.6 billion
340. Julio Mario Santo Domingo III, 32. SABMiller stakeholder’s grandson. $2.4 billion
… and the oldest billionaires (ranked by age)
340. Alexander Spanos, 94. San Diego Chargers owner. $2.4 billion.
288. David Murdock, 94. Dole Food Products chairman. $2.8 billion B 94 Ventura, CA Dole, real estate
115. Sumner Redstone, 94. Viacom chairman. $5.1 billion