Indian Entrepreneurs Richer Than US President Trump: Forbes Report

American optimism v. American carnage.  
     Chip Somodevilla  Justin Sullivan

The personal fortune of US President Donald Trump has significantly nosedived over the previous year.

In terms of Boston companies, Fidelity Investments CEO Abigail Johnson placed 75th with a net worth of $14.4 billion, outranking her father, former longtime Fidelity CEO Edward C. Johnson III ($7.8 billion, 173rd).

Forbes said it estimates Trump's net worth has fallen by $200 million since the November election that saw him claim the White House.

The number of billionaires increased 13 percent compared to 2016, the magazine noted, from 1,810 to 2,043.

"Although Donald Trump's name is plastered on buildings all around the world, his core assets are still located in a small part of New York City", Forbes associate editor Dan Alexander said about Trump's ranking the publication's famous annual listing.

Eric Trump told Forbes he will update his father on the family business's financials "probably quarterly". Midtown Manhattan is seeing something of a pickup, and the value of Trump's Mar-a-Lago retreat in Florida has gone up by an estimated $25 million.

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But not all of the trends were negative for Trump.

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 220 spots, according to the Forbes magazine's report released today.

Gates, whose wealth is estimated at $86 billion (roughly Rs. 5,62,396 crores), led the list for the fourth straight year, and has been ranked as the richest person in the world for 18 of the past 23 years. By adding $27.6 billion to his fortune in the past 12 months, Amazon founder and chief executive Jeff Bezos is the third richest person on Earth and holds the distinction of earning the largest annual income in the past year. While we as a nation continue to try and dig into how many conflict of interests deals our President has going on, we at least know that his business empire took a bit of a loss past year.

David Thomson and family, whose estimated fortune of $27.2 billion United States put them at 24th position. His younger brother Anil is ranked 745th with a net worth of Dollars 2.7 billion.

Still at number three is Lucio Tan with a $3.7 billion total net worth, $3 million lower than previous year.

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