Business

Trump Drops Hundreds of Places in the Forbes Billionaires List

US President Donald Trump has slumped on the annual Forbes Rich List, dropping 222 places from last year. The fall comes as his estimated worth drops from $3.5bn to $3.1bn.

According to Forbes, who publishes their much-anticipated list of the world’s richest inhabitants every year, the drop was due in part to falling revenues at Trump’s golf courses, along with a noticeable drop in the value of central New York property values.

Although one might expect the news to be troubling to the President, he is still one the world’s richest men and the leader of the world’s most powerful country, so perhaps it won’t cause him too many sleepless nights. Trump may be more troubled by the repeated criticism of his leadership skills, as well as continuing controversy around his relationships with Russia and China.

In sharp contrast to Trump’s falling fortunes, Amazon founder Jeff Bezos – number one on the Rich List – saw his fortune grow from $39.2bn last year to an incredible $112bn. Such an incredible rise over the course of a year has seen him topple Microsoft’s Bill Gates, whose estimated wealth sits at $90bn. Considering Gates has topped the Rich List for 18 out of the last 24 years, knocking him off the top spot is quite an achievement.

The US continues to top the list of billionaires by country, with 585 in 2018. In Europe, Germany boasts the greatest number of billionaires, with 123.

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