Trump drops 220 spots on Forbes list of billionaires

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United States president, Donald Trump dropped down the list 200 spots to 544th as his fortune nosedived to $3.5bn from $3.7bn the previous year.

"I understand why some Americans watch their tax dollars going overseas and wonder why we're not spending them at home", wrote Gates, whose $86 billion net worth is roughly 25 times larger than Trump's $3.5 billion fortune.

Trump himself slipped 220 spots on the list to number 544 with an estimated $3.5 billion.

Rather, Trump's net worth is down because about 40 percent of his wealth comes from real estate he owns in midtown Manhattan, including Trump Tower and eight other buildings within about a mile. "Lately, the neighbourhood has been struggling (relatively speaking)", Forbes said.

Jim Davis, the CEO of the Boston-based New Balance, finished in a tie for 315th place with a net worth of $7.1 billion. The Microsoft co-founder has now been the richest person in the world for 18 out of the past 23 years, per Forbes.

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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.

He owns two homes in the United States' mountainous resort area of Aspen and two super yachts, the 250 foot Weta and the 350 foot Ulysses, which was up for sale past year. Gates has a fortune of $86 billion, up from $75 billion past year. The overall list boasts 233 more billionaires than in 2016, the biggest increase since Forbes started keeping track 31 years ago. Investor Warren Buffett claimed the number two spot and Amazon chief executive Jeffrey P. Bezos was third. Their average net worth is $3.75 billion, which means Trump is not even worth as much as the "average" billionaire.

Others are, Yoshiko Shinohara of Japan, who began a staffing firm to help women get into the workforce, Manny Stul of Australia, whose toy company created the Shopkins collectibles, American Yvon Chouinard, the founder of Patagonia, and Juan Francisco Vidal of Mexico, who's the chairman of tequila giant Jose Cuervo.

Notable newcomers included Vietnam's first self-made woman billionaire, Nguyen Thi Phuong Thao, who took her budget airline, VietJet Air, public in February 2017.