Trump drops 200 spots in Forbes rich list

Trump-Bill Gates

Forbes released their 2017 Billionaires List on Monday to reveal that unsurprisingly, Bill Gates remains the world's richest man for the fourth year in a row.

Meanwhile, property mogul turned president Donald Trump took a dive in the ranking, slipping 220 spots to number 544 with an estimated $3.5 billion-$1 billion down from past year.

The CEO of an IN company is ranked as one of the richest people IN the world, according to a Forbes ranking of billionaires released Monday.

The number of United States billionaires on the list was 565, which Forbes attributed to the recent stock market surge since Mr Trump's November 2016 election. "Their total net worth rose by 18% to $7.67 trillion, also a record", Forbest reported. During the campaign he said that he was worth US$8.7b and said past year in a personal financial disclosure form filed with the federal government that his net worth was "in excess of US$10b".

Most of the richest women inherited their fortune, Forbes said.

"Midtown Manhattan real estate is down; therefore, so is Donald Trump's fortune". Forbes said about 40 per cent of the president's fortune is linked to Trump Tower and other Trump-owned properties near to it.

African football body admits Zanzibar as 55th member
Astute and tactical planning ahead of the election led to the major shock after anger and discontent infected the Hayatou camp. When the congress came back‚ there were more sweeping changes as the exco elections saw six members voted from power.

Trump was ranked at No. 544, with a net worth of around US$3.5 billion ($5b).

The US had the most billionaires with 565, while China was second with 319, and Germany was in the third spot with 114. His $14.8 billion jump in 12 months was enough for him to grab back the number two spot from Amancio Ortega, founder of Spanish clothing chain Zara.

The Trump administration asked for a 28.5 per cent cut in global programmes, including the State Department and the US Agency for worldwide Development, for the year that begins Oct 1. versus fiscal 2016, the last year Congress enacted full-year spending legislation. CEO from Dorchester, earned the 20th position with a net worth of $30.4 billion.

Eight of the top 10 billionaires in the world are from the U.S.

Longtime investor and philanthropist Warren Buffett, the "Oracle of Omaha", was listed at No. 2 with a fortune of almost $77 billion.

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