Friday, 22 June, 2018

Jeff Bezos moves to top spot on Forbes' annual billionaires list

Donald Trump's wealth has fallen for second year running – Forbes Billionaires of 2018: Forbes lists the richest people in the world
Jodi Jackson | 07 March, 2018, 00:26

Bill Gates - Gates owes his $90 billion in net worth to Microsoft Corporation (NASDAQ:MSFT), which he founded back in 1975. (NASDAQ:AMZN) CEO now has a net worth of $112 billion and is from the U.S. His wealth has grown by over 8 billion dollars.

No. 4 is chairman and CEO of luxury goods company LVMH Bernard Arnault and his family, with $72 billion.

Luisa Kroll and Kerry Dolan, from Forbes Media, said: "The superrich continue to get richer, widening the gap between them and everyone else".

According to the magazine's wealth estimate, based on the values of his various property holdings, among other indicators, Trump has lost around $400 million throughout the past year, putting his fortune at a paltry $3.1 billion.

The world's richest self-made woman is Hong Kong's Zhou Qunfei, founder of smartphone screen maker Lens Technology.

Their collective worth is $9.1 trillion, an 18 percent increase from previous year.

Forbes, the American magazine which compiles a list of the world's richest people annually, attributed his decline to "a tough NY real estate market, particularly for retail locations; a costly lawsuit and an expensive presidential campaign".

It said that Trump's net worth had fallen by $400m (£287m) to $3.1bn over the past year.

The magazine attributed Trump's decline in wealth to "a tough NY real estate market, particularly for retail locations; a costly lawsuit and an expensive presidential campaign".

The US president was placed as the 544th richest person on the magazine's list a year ago but has now dropped to 766th, with more than $400 million wiped off his wealth. According to the Bloomberg Billionaires Index, Bezos' net worth has climbed $15 billion since Forbes performed its calculations.

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