Bill Gates again world's richest man; Trump tumbles

Microsoft co-founder Bill Gates, whose wealth is estimated at $86bn, is leading the Forbes Rich List for the fourth straight year. (Pic: Emmanuel Dunand, AFP)
Microsoft co-founder Bill Gates, whose wealth is estimated at $86bn, is leading the Forbes Rich List for the fourth straight year. (Pic: Emmanuel Dunand, AFP)

New York - Microsoft co-founder Bill Gates once again topped the Forbes magazine list of the world's richest billionaires, while US President Donald Trump slipped more than 200 spots, the magazine said on Monday.

Gates, whose wealth is estimated at $86bn, led the list for the fourth straight year.

He was followed by Berkshire Hathaway chief Warren Buffett among the top 10 billionaires, a group heavily dominated by Americans, many of whom work in the technology sector. Buffett's wealth was estimated at $75.6bn.

Others in the top 10 included Amazon founder Jeff Bezos at number three, Facebook creator Mark Zuckerberg at number five and Oracle co-founder Larry Ellison at number seven.

The global billionaire population jumped 13% from last year to 2 043, the biggest annual increase in the 31 years since the magazine began compiling the list, Forbes said.

The US led countries with the most billionaires with 565, a product of the swelling value of the American stock market since Trump's November 2016 election.

China was second with 319 billionaires, and Germany was third with 114.

Trump himself slipped 220 spots on the list to number 544 with an estimated $3.5bn. Forbes attributed Trump's drop to sluggishness in the Manhattan real estate market which is responsible for a disproportionate amount of his wealth.

"Forty percent of Donald Trump's fortune is tied up in Trump Tower and eight buildings within one mile of it," Forbes said. "Lately, the neighbourhood has been struggling (relatively speaking)."

Among others in the Forbes top 10, Amancio Ortega of Spanish apparel chain Zara was fourth, Mexican telecom tycoon Carlos Slim was sixth, the Koch brothers, Charles and David, were eighth and ninth and former New York City mayor and Bloomberg News founder Michael Bloomberg was 10th.

This year it took at least $3.7bn in wealth to make it onto the list, but only in a tie for 501th place, a group that included Hollywood director Steven Spielberg.

Read Fin24's top stories trending on Twitter:

ZAR/USD
16.81
(+0.09)
ZAR/GBP
21.33
(-0.19)
ZAR/EUR
19.01
(+0.67)
ZAR/AUD
11.73
(-0.15)
ZAR/JPY
0.15
(+0.64)
Gold
1683.93
(-1.60)
Silver
17.39
(-1.29)
Platinum
816.00
(-2.44)
Brent Crude
39.83
(+0.50)
Palladium
1944.00
(+1.29)
All Share
54722.38
(+2.85)
Top 40
50199.80
(+2.79)
Financial 15
11467.53
(+4.66)
Industrial 25
74264.52
(+2.52)
Resource 10
49969.31
(+2.29)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
I'm not really directly affected
19% - 194 votes
I am taking a hit, but should be able to recover in the next year
26% - 268 votes
My finances have been devastated
29% - 294 votes
It's still too early to know what the full effect will be
26% - 260 votes
Vote