New Delhi, Mar 7: US President Donald Trump’s ranking on the Forbes billionaire list has slipped to more than 200 places after losing around $400 million in his net worth from last year. Trump with $3.1 billion is ranked 766th this year, down from a 544th ranking last year.
While Amazon chief Jeff Bezos has topped the list as world’s richest person and Microsoft founder Bill Gates has slipped to second place. Gates for two consecutive years was on the top of the list. The Forbes magazine’s annual billionaires list was published on Tuesday.
As the agency quoted, Trump Tower, the President’s New York home, has lost an estimated $41 million in value last year. Another property on 57th St. is losing a longtime tenant in Nike. The magazine attributed the president’s decline in net worth throughout 2017 to a struggling retail real estate market and Trump’s polarizing brand. Within the last year, the value of Trump Tower — the 5th Avenue-based former home of the president in the centre of the most expensive retail real estate in Manhattan — declined $41 million this year, Forbes estimated.
Meanwhile, Warren Buffett was holding his number third position, followed by French industrialist Bernard Arnault, who jumped to fourth-richest person from his previous number 11. Facebook owner Mark Zuckerberg was at the fifth position. This year Forbes list contains 259 newcomers, including the first-ever cryptocurrency billionaires.