By Itunuoluwa Adebo
US president Donald Trump’s fortune has fallen by about $1bn to $3.5bn, as measured by Forbes magazine in its world famous list of billionaires. However, it has been a good 12 months for the world’s wealthiest individuals, with a record 233 moving into the billionaire bracket, taking the global number billionaires to 2,043 – the most in the 31-year history of the list.
The dive in Trump’s net worth is due to a drop in the value of office space in Midtown Manhattan, where the president owns about 10 buildings. Forbes said Trump had fallen from the world’s 324th-richest person to 544th.
“Forty percent of Donald Trump’s fortune is tied up in Trump Tower and eight buildings within one mile of it,” Forbes said. “Lately, the neighbourhood has been struggling (relatively speaking).”
Trump has refused to publish his tax returns to show the true scale of his wealth, but during the campaign he claimed he was worth “in excess of $10bn”.
The richest person in the world remains Microsoft founder Bill Gates (retaining the position for 4 years), whose fortune has grown by $11bn to $86bn. He is followed by investor Warren Buffett, and Amazon founder Jeff Bezos, who was this year’s biggest gainer with a $27.6bn