Trump loses $1bn, now 544th on Forbes billionaires list

Bill Gates

The financial magazine said the number of billionaires jumped from 1,810 last year to 2,043 this year.

Trump hasn't released his tax returns, but during the election campaign he claimed to be worth in excess of $10 billion.

Among others on Forbes rich list, Alibaba founder Jack Ma was ranked 23 with estimated wealth of US$28.3 billion.

With a total net worth of US$12.7 billion, business magnate Henry Sy placed highest in the list at No. 94.

Gates' fortune grew from an estimated $75 billion previous year to $86 billion in 2017. Amazon's CEO Jeff Bezos, whose net worth increased from $27.6 to $72.8 billion, rolls in at third place.

The majority of the world's billionaires are American, although the founder of Spanish clothing chain Zara, Amancio Ortega, was fourth with $71.3 billion.

Last year, Warren's paltry $1.7 billion ranked him 32nd in Texas and 1067th among the world's billionaires, according to Forbes. The list features individuals rather than multigenerational families who share large fortunes.

The number of USA billionaires on the list was 565, which Forbes attributed to the recent stock market surge since Mr Trump's November 2016 election.

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The global population of billionaires, now put at a record 2,043, marks the biggest annual increase in the 31 years since the magazine began compiling the list.

Trump tumbled more than 100 spots to No. 544 on the magazine's 31st annual list, largely because of the impact of the slumping NY real estate market on his holdings.

Ten Indians have also made it to the list of Forbes' 500 richest people in the world.

New Zealand's second richest man, at number 745, is 49-year-old PayPal co-founder Thiel who is worth US$2.7b.

U.S. President Donald Trump came 544th with assets worth $3.5 billion.

Bill Gates topped the list at $86 billion.

The United States has the most billionaires on the list (565), with China and Germany following, boasting 319 and 114 billionaires, respectively.

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