US President Donald Trump's ranking on this year's Forbes World's Billionaires list fell to 766th place from 544th in the previous edition. The US President's wealth is now being estimated at $3.1 billion, $400 million less than a year ago. The core of Mr Trump's fortune is tied up in a half-dozen buildings in and around midtown Manhattan in New York City, where luxury real estate values have fallen recently, Forbes said, adding, that he also also owns golf courses and a winery and has licensed his name to companies around the world.
Donald Trump, who according to Forbes became the first billionaire president in US history, got his start working for his father, Fred, who developed low-cost housing in Brooklyn and Queens.
Amazon chief Jeff Bezos is now the world's richest person, having taken the top spot from Microsoft founder Bill Gates who slipped to the second place, according to Forbes magazine's annual billionaires list published Tuesday.
Mr Bezos, referred to as the "Centi-billionaire", topped the list with a net worth of $112 billion, becoming the only person to appear in the Forbes list with a 12-figure fortune.
"Shares of his e-commerce giant Amazon rose 59 per cent in 12 months, helping boost his fortune by $39.2 billion. It was the biggest one year gain since Forbes started tracking billionaires in 1987," it said.
According to Forbes, India is home to 119 billionaires, 18 more than last year. (With Agency Inputs)
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