Bezos replaces Gates atop Forbes' list of richest billionaires

Bezos replaces Gates atop Forbes' list of richest billionaires

Microsoft co-founder Bill Gates dropped one spot from a year ago to No. 2, with $90 billion. Amazon's shares have almost doubled from 846 dollars a share last March to 1,523 dollars per share last night.

This year's list contains billionaires from 72 different countries and territories, with moguls from Zimbabwe and Hungary appearing on the ranking for the first time.

Bernard Arnault from France had the second most profitable year behind Bezos, having upped his fortune to $30.5 billion over the past twelve months. His wealth has grown by over 8 billion dollars.

Luisa Kroll and Kerry Dolan, from Forbes Media, said: "The superrich continue to get richer, widening the gap between them and everyone else". 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.

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Who are the richest people in the world?

A record 2,208 billionaires feature on the magazine's 32nd annual ranking of the world's billionaires.

With a fortune worth $110 billion, Amazon founder Jeff Bezos is the world's richest man and tops a 2018 Forbes Magazine list of 100 billionaires. The top 20 alone are worth $1.2 trillion, or roughly Mexico's yearly economic output.

It said that Trump's net worth had fallen by $400m (£287m) to $3.1bn over the past year.

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The president has dropped more than 200 spots since previous year to No. 766 on the list, where he's tied with more than 20 others.

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".

Trump also shelled out $25 million in settling lawsuits that alleged his Trump University real estate courses defrauded students. (NASDAQ:FB) CEO now has a net worth of $71 billion thanks to his popular social media platforms.

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