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Trump's fortune drops $1B since previous year, Forbes says

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Henry Sy. ABS-CBN News  File

This puts him 200 places below his rank in 2016, with an estimated wealth of $3.5bn compared to $3.7bn of last year and $4.5bn the year before.

Facebook founder Mark Zuckerberg was number five and Oracle co-founder Larry Ellison was number seven.

President Trump's fortune has dropped by roughly $1 billion since past year, according to Forbes magazine's latest ranking of the world's billionaires.

The US president also would have missed the big stock market rally following his election, "assuming Trump sold off all of his stocks during last year's campaign, as he has claimed", the magazine said.

Arison, Carnival Corp. chairman ranks fourth on the Florida list with a net worth of $8.1 billion.

Last year, Forbes said Trump was the 324th-richest person in the world.

The list, published Monday, tracked the mind-boggling fortunes of the world's elite and assesses the overall financial trends of the world's richest people.

"Midtown Manhattan real estate is down; therefore, so is Donald Trump's fortune", the magazine said in a statement.

China accounted for the largest number of new entrants on the Forbes list, with 76 mainland billionaires listed for the first time. It acknowledges some fortunes may have changed considerably even since then and that sorting out one's net worth is more complex when it is tied to a family fortune.

Richard Chandler is worth US$1.91b - down from US$2.45b in 2016.

Neither the White House nor the Trump Organization, which Mr. Trump's sons have run since their father's inauguration, immediately responded to a request for comment on the Forbes list.

Ortega's fortune was up $4.3 billion since a year ago, but he still fell to fourth in the world, unable to keep up with the outsize gains of others.

Amancio Ortega: Ortega co-founded the hugely successful high street Spanish retail chain Zara, and now boasts a net worth of $74 billion. I'm worth much more than you have me down [for]. The Microsoft co-founder has now been the richest person in the world for 18 out of the past 23 years, per Forbes.

How long until Donald Trump, 70, blasts Forbes' Billionaires list as "fake"?

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