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Donald Trump plummets down Forbes billionaires list

07 March, 2018, 00:30 | Author: Kristi Dunn
  • Jeff Bezos moves to top spot on Forbes' annual billionaires list

Within the last year, the value of Trump Tower - the 5th Avenue-based former home of the president in the center of the most expensive retail real estate in Manhattan - declined $41 million this year, Forbes estimated.

Bezos is "the first person to top $100 billion as number one on the Forbes list of the World's Billionaires", the magazine said. Bezos' 2017 is the biggest single year gain since Forbes began tracking the uber-wealthy back in 1987.

His rise knocks Microsoft founder Bill Gates, whose estimated wealth is $US90bn this year, up from $US86bn, into second place.

The Forbes billionaires list is a snapshot of wealth taken on February 9, 2018.

No. 4 is chairman and CEO of luxury goods company LVMH Bernard Arnault and his family, with $72 billion.

Germany's SPD in favour of coalition with Merkel
In a tweet, they labeled the SPD's decision a "catastrophe" for Germany, promising fierce opposition over the coming four years. In the end, though, two-thirds of its 464,000 members voted in favor of the coalition deal.

President Donald Trump's polarizing personality may actually be costing him a whole lot of money, according to the latest Forbes list of the world's billionaires.

Sixty-seven percent of the 2018 list are self-made billionaires, and a record 255 women are included in this year's rankings. His fortune is up from $US75.6bn a year earlier. (NASDAQ:FB) CEO now has a net worth of $71 billion thanks to his popular social media platforms.

The magazine attributed Trump's decline in wealth to "a tough NY real estate market, particularly for retail locations; a costly lawsuit and an expensive presidential campaign".

Forbes estimates Mr Trump's worth collapsed from $US3.5 billion ($4.4 billion) to $US3.1 billion ($3.9 billion) this year, with the magazine saying it was partially due to a fall in NY property values and a dip in revenues at his golf courses.

Trump reached a 25m dollar settlement in a legal dispute about claims that his Trump University real estate courses allegedly defrauded students.

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