US President Donald Trump has dropped down the rankings of Forbes’ annual rich list for 2018
Donald Trump has slipped down Forbes’ annual rich list for 2018 after his fortune dropped by an estimated $400m (£288m) to $3.1bn.
The US President has dropped 222 places on the rankings to come in at 766. The top spot is taken by Amazon boss Jeff Bezos, whose fortune has surged to $112bn from an estimated $39.2bn last year. He’s followed by Bill Gates and Warren Buffett.
Forbes said markets were partially to blame for Trump’s slump, noting retail real estate in New York City “continues to struggle”, but added that Trump’s “polarising personality” is costing him business too.
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Trump’s golf properties have been less affected by market shifts, but seem “more susceptible to political currents”, while the value of the president’s hotel licensing and management firm dropped by an estimated $50m in the last year.
His brand seems to be dimming in the likes of Toronto and New York “where investors have removed the president’s name from hotels”.
“It all adds up to an estimated $3.1bn fortune – a far cry from the $10bn-plus that Trump once claimed but nonetheless enough to make him the richest president in US history,” Forbes said.
Forbes found a record 2,208 billionaires last year, collectively worth $9.1 trillion. It said there were 259 newcomers, with the high-fliers making their fortunes in everything from children’s toys to electric cars.
Here’s 2018 top 10
1. Jeff Bezos
2. Bill Gates
3. Warren Buffett
4. Bernard Arnault and family
5. Mark Zuckerberg
6. Amancio Ortega
7. Carlos Slim Helu and family
=8. Charles Koch
=8. David Koch
10. Larry Ellison
The US is home to the most billionaires, and is then followed by Greater China, while there are 53 billionaires in the UK, down one on last year.
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