World President Trump Falls 200 Places on Forbes Richest List 2017

Alexander Spanos Alexander Spanos

Amancio Ortega: Ortega co-founded the hugely successful high street Spanish retail chain Zara, and now boasts a net worth of $74 billion.

Microsoft founder Bill Gates again tops Forbes' list of the world's richest people, in a year when the number of billionaires rose 13% to 2,043.

"Forty per cent of Donald Trump's fortune is tied up in Trump Tower and eight buildings within one mile of it". His wealth jumped to $72.8 billion, a gain of $27.6 billion from past year, Forbes said.

233 billionaires were welcomed to the list this year and for the first time ever Forbes counted over 2,000 people with fortunes to fit the very big bill. He has a fortune of $86 billion, up from $75 billion a year ago, while Warren Buffett ranks No. 2 with $75.6 billion. The magazine attributed the rise in part to surging stock markets and higher commodity prices.

Among the top 10 billionaires, a group heavily dominated by Americans, many from the technology sector, Gates was followed by Berkshire Hathaway chief Warren Buffett, with wealth was estimated at $75.6 billion, a $14.8 billion jump from the 2016 list, despite his pledge to give away 99 percent of his wealth. (Bezos owns The Washington Post).




"But it's not exactly shocking, given the rapid transition over the last 20 years away from shopping in physical retail stores in lieu of online shopping, where retailers like Amazon can offer lower pricing on products and services because they don't have to offset the costs of also paying for physical stores", Yahoo Finance reported. But since then Midtown New York real estate values have been sliding, which is a large chunk of his fortune.

Mr. Trump tumbled 208 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.

That's up from $4.8 billion and 298th on last year's list.

Others are, Yoshiko Shinohara of Japan, who began a staffing firm to help women get into the workforce, Manny Stul of Australia, whose toy company created the Shopkins collectibles, American Yvon Chouinard, the founder of Patagonia, and Juan Francisco Vidal of Mexico, who's the chairman of tequila giant Jose Cuervo.

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