Jeff Bezos moves to top spot on Forbes' annual billionaires list

07 March, 2018, 00:09 | Author: Jason Torres
  • Jeff Bezos moves to top spot on Forbes' annual billionaires list

The Forbes 2018 Billionaires List is out - and it's bad news for President Trump.

Trump dropped 222 places. The magazine estimates his net worth at $3.1 billion, down from $3.5 billion past year.

Founder of online giant Amazon, Jeff Bezos, topped the list after his estimated worth leapt from $US39.2 billion ($50 billion) previous year to $US112 billion ($143 billion) in 2018.

The drop was partly explained by the dropping value of Mr Trump's retail property and a backlash to his brand in some quarters, according to Forbes.

The improvement in Mr Bezos' fortune is the biggest on record.

Mr Bezos' rise knocks Microsoft founder Bill Gates, whose estimated wealth is $US90 billion ($115 billion) - up from $US86 billion ($109 billion) - into second place.

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This year 31 individuals from Arab countries have made the list.

Forbes identified a record 2,208 billionaires around the world in 2018, up from 2,043 past year.

The richest person in Europe and fourth on the list is the boss of luxury goods firm LVMH, Bernard Arnault, who has a fortune of $US72bn.

Twelve out of the top 15 richest people are from the United States, with investor Warren Buffett in third place (with $84bn) and Facebook's Mark Zuckerberg in fifth ($71bn). India has 119 billionaires and Russian Federation 102.

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".

He's now worth an estimated $112 billion, up $39.2 billion from 2017. He's the first centibillionaire on the list with $112 billion. The magazine uses that day's stock prices and exchange rates from around the world.

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