Bill Gates is world's richest man again; Trump slips | Inquirer Business
Close  

Bill Gates is world’s richest man again; Trump slips

/ 06:32 PM March 21, 2017
bill gates

Bill Gates. Image: AFP/Thomas Samson

Microsoft co-founder Bill Gates once again topped the Forbes magazine list of the world’s richest billionaires, while United States President Donald Trump slipped more than 200 spots, the magazine said Monday.

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

ADVERTISEMENT

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 $75.6 billion.

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.

FEATURED STORIES

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

The U.S. led countries with the most billionaires at 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 $3.5 billion. 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 neighborhood 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 $3.7 billion in wealth to make it onto the list, as figuring in a tie for 501th place is Hollywood director Steven Spielberg. JB

Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Bill Gates, Donald Trump, Forbes, mark Zuckerberg, New York Mayor Michael Bloomberg, Warren Buffett
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2021 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.