NNEW YORK: America’s richest may be getting richer but President Donald Trump’s fortune has slid by $600 million to $3.1 billion, according to a list of 400 billionaires released by Forbes magazine on Tuesday.
Microsoft co-founder Bill Gates topped the list for a 24th consecutive year on a net worth of $89 billion with Amazon’s Jeff Bezos, worth $81.5 billion, number two.
But Trump, the first US president to come solely from the private sector, is ranked 248 — sharing the spot with 27-year-old Snap co-founder and CEO Evan Spiegel, the youngest person on the list.
Forbes attributed Trump’s decline to a weakening New York retail and office real estate market, and new information about his assets. The Manhattan tycoon ranked 156 in 2016, the year he was elected to the White House.
Forbes said those on its 36th annual list of the 400 wealthiest Americans have a record-breaking, combined total net worth of $2.7 trillion, up from $2.4 trillion in 2016. Entrance to the exclusive club cost a record breaking $2 billion.
There were 22 newcomers, including Netflix cofounder and CEO Reed Hastings. Twenty-six people dropped off from last year, including US Commerce Secretary Wilbur Ross.
There were only 50 women on the list. Alice Walton, the daughter of Wal-Mart founder Sam Walton, was the highest ranked at 13. Unlike her brothers, she has focused on curating art rather than working for Wal-Mart.
The biggest gainer in dollar terms was Facebook’s Mark Zuckerberg, chalking up a $15.5 billion increase in net worth to retain his number four ranking at $71 billion. The full list can be found at www.forbes.com/forbes-400/.
Trump’s fortune slides by $600 million on Forbes wealth list
Trump’s fortune slides by $600 million on Forbes wealth list
North Korea’s Kim: party congress to unveil plans for nuclear-war deterrent, KCNA says
- North Korea has defied a United Nations ban against it on ballistic missile development
SEOUL: North Korean leader Kim Jong Un said the upcoming congress of the ruling Workers’ Party will unveil next-stage plans for further strengthening the country’s nuclear war deterrent, KCNA state news agency reported on Wednesday.
Kim directed a successful test of a large-caliber multiple-rocket launch system on Tuesday, KCNA said. The drill demonstrated significant upgrades to the weapon’s strike power, mobility and accuracy, it quoted him as saying.
It is an important policy of the ruling Workers’ Party to build a reliable offensive capability and deterrence strategy to thwart an enemy attempt to spark an armed conflict, he said.
“This test will be a source of excruciating mental agony and serious threat to the forces that attempt to provoke a military confrontation with us,” Kim said.
South Korea and Japan on Tuesday condemned the launch of possible short-range ballistic missiles by the North toward the sea off its east coast. North Korea has defied a United Nations ban against it on ballistic missile development.
Kim did not elaborate on his comment about the upcoming congress of the ruling party, which is expected to take place some time in the next several weeks. The country has not announced the dates.
