Trump drops 220 spots on the Forbes Billionaires List

Trump-Bill Gates

Trump-Bill Gates

The change in the total number of billionaires - up 233 since last year - was the biggest increase in 31 years.

As many as 101 Indians, including 13 newcomers made it to the latest "The World's Billionaires" list, Forbes said in a statement on Monday. For 2017, Michael Bloomberg ranked number 10 and the Koch brothers both shared the eighth spot. Buffett now holds a net worth of $77.3 billion and made this year's list at No.2.

Bill Gates is the richest person on the planet for the fourth straight year, in what was a record year for billionaires and their fortunes, according to the annual list from Forbes magazine. Their average net worth is $3.75 billion, which means Trump is not even worth as much as the "average" billionaire.

Bill Gates, with an estimated $86 billion fortune, topped the list for the 18th time in the past 23 years.

Also on the list is veteran banker Wee Cho Yaw, who has a net worth of US$5 billion, as well as Hong Leong Group chairman Kwek Leng Beng, with a net worth of US$2.7 billion.

Joining Gates in the top three is investor/philanthropist Warren Buffet, with a net worth of $75.6 billion and Amazon CEO Jeff Bezos, the biggest gainer on the list, with a net worth of $72.8 billion.

Most of the richest women inherited their fortune, Forbes said.

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The other two being the co-founders of Snapchat.

Forbes also released a detailed analysis of US President Donald Trump's now worth.

"Forbes' World's Billionaires list is a snapshot of wealth taken on February 17, 2017, when stock prices and exchange rates were locked in from around the world".

"Midtown Manhattan real estate is down; therefore, so is Donald Trump's fortune".

In terms of Boston companies, Fidelity Investments CEO Abigail Johnson placed 75th with a net worth of $14.4 billion, outranking her father, former longtime Fidelity CEO Edward C. Johnson III ($7.8 billion, 173rd).

But while the United States continues to be the country with the single greatest number of billionaires - 565 of them - China is catching up with 319.