Trump is $1B 'poorer' in latest Forbes ranking

Trump is $1B 'poorer' in latest Forbes ranking

Forbes' annual list of the world's billionaires was released Monday, and it includes several MA connections.

The list was filled out with some familiar faces; behind Bill Gates at No.2 was legendary American investor Warren Buffet with $75.6 billion and at No.3 was Jeff Bezos, founder of online retail giant Amazon, who moved up from fifth to third with a fortune of $72.8 billion.

The business magazine adds the number of billionaires rose 13% to 2,043 from 1,810 past year. And unlike Trump, Gates says his goal is to give every last dollar of that away to charitable causes through the Bill and Melinda Gates Foundation.

Last year's second richest person in the world, Spanish clothing chain Zara owner Amancio Ortega fell to forth place, despite gaining $4.3bn to his fortune this year.

The extensive Forbes list features 2,043 billionaires with an average net worth of $3.5 billion.

More news: Social Security is expensive for recipients who also work

Due to his taking a civil service job that pays about $500,000 per year - and distancing himself from his corporate empire - U.S. President Donald Trump remained on the list and became the first sitting president to appear on it.

"Forty per cent of Donald Trump's fortune is tied up in Trump Tower and eight buildings within one mile of it", Forbes said.

Former New York City Mayor Michael Bloomberg makes Forbes' list at 10th place with a net worth of $47.5 billion.

The number of billionaires climbed 223 since 2016, the largest jump in the 31 years Forbes has tracked billionaires on a global scale.

Notable newcomers to the Forbes list include Vietnam's first self-made billionaire, Nguyen Thi Phuong Thao, who went public with her budget airline, VietJet Air in February. However, it's likely other billionaires might live in El Paso but are not as public as Foster, who is the founder and board chairman of Western Refining, a publicly traded El Paso oil refining company.

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