Trump drops 220 spots on the Forbes Billionaires List

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While Donald Trump's political fortunes were rising, his net worth was dropping to a mere $3.5 billion, or roughly a third of what he claimed during his successful campaign for the United States presidency, according to the latest Forbes list of the world's billionaires.

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

"We list individuals rather than multigenerational families who share large fortunes, though we include wealth belonging to a billionaire's spouse and children if that person is the founder of the fortune", the magazine says. Investor Warren Buffett claimed the number two spot and Amazon chief executive Jeffrey P. Bezos was third.

And finally, coming in at number one, with a net worth of $86 billion, is Microsoft founder Bill Gates.

Trump slipped 220 spots on the list to 544 with an estimated $3.5 billion, a decline of $1 billion from past year. - The total combined net worth of this year's billionaires was $7.67 trillion, up from $6.48 trillion last year.

Most of the richest women inherited their fortune, Forbes said.

Forbes said the RIL chairman sparked a price war in the Indian telecom market with the launch of the Jio4G phone service last September.

Nunes: I used WH to confirm what I already knew
Speaking Thursday on Capitol Hill, Schiff said he was "more than willing" to accept the White House offer to view new information. According to a statement from Nunes' spokesperson, the chair met on White House grounds to initially receive his information.

The post Bill Gates tops Forbes' rich list as Trump's wealth slips appeared first on BusinessDay: News you can trust.

Check out the top ten below, then head over to Forbes for the full list.

The global population of billionaires, now put at a record 2,043, marks the biggest annual increase in the 31 years since the magazine began compiling the list.

"Midtown Manhattan real estate is down; therefore, so is Donald Trump's fortune", Forbes said. "Lately, the neighbourhood has been struggling".

The magazine likewise said that his riches was hit by $66m in political spending on his successful presidential campaign, together with $25m to settle litigation pupils were supposedly ripped off by him at Trump University.

Rounding out the Forbes top 10, Amancio Ortega of Spanish apparel chain Zara was fourth; Mexican telecom tycoon Carlos Slim was sixth; the Koch brothers, USA conservative political activists Charles and David, were eighth and ninth; and former New York City mayor and Bloomberg News founder Michael Bloomberg was 10th. For the second year running France's Liliane Bettencourt, the L'Oreal cosmetics heiress, was the world's wealthiest woman with a $39.5bn net worth. But the list also contained 15 new "self-made" women, mostly from Asian countries, including Vietnam's Nguyen Thi Phuong Thao of budget airline VietJet air.