Jeff Bezos tops Forbes' billionaires list; Trump's rank drops

Jeff Bezos tops Forbes' billionaires list; Trump's rank drops

Bezos' 2017 is the biggest single year gain since Forbes began tracking the uber-wealthy back in 1987. Amazon's shares have almost doubled from 846 dollars a share last March to 1,523 dollars per share last night.

Forbes list contains 259 newcomers, including the first-ever cryptocurrency billionaires.

Collectively, the world's 2,208 billionaires hold 9.1tn dollars more than three times the gross domestic product (GDP) of the UK.

Mining mogul Gina Rinehart remains Australia's richest citizen with her iron ore wealth increasing from $US17.2 billion ($21.9 billion) to $US17.4 billion ($22.2 billion).

The list is published in Forbes's latest edition under the headline "The super-rich continue to get richer, widening the gap between them and everyone else". Bernard Arnault, who oversees 70 brands, including Louis Vuitton and Sephora, and Facebook CEO Mark Zuckerberg made the top 5.

Bernard Arnault - The first member of the list not to come from the US has a net worth of $72 billion and calls France his home.




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President Donald Trump's net worth took another substantial hit over the last previous year, dropping around $400 million since he took office, according to Forbes. His fortune is up from $US75.6bn a year earlier.

" It means the president has slipped more than 200 places in the billionaire rankings from 544th richest last year to 766th this year, " it said.

According to Daily News, Trump Tower, the President's NY home, lost an estimated $41 million in value a year ago.

Trump also shelled out $25 million in settling lawsuits that alleged his Trump University real estate courses defrauded students. Buffett is worth an estimated $84 billion.

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