Trump falls 222 places on Forbes rich list
President’s wealth plummets as Jeff Bezos records the biggest year-on-year gain ever
Donald Trump has plummeted 222 places on Forbes’ annual Rich List of the world’s wealthiest people.
The US President saw his personal fortune drop from $3.5bn (£2.5bn) to $3.1bn last year. Forbes said this was predominantly due to the falling value of central New York property and diminishing returns from his golf courses.
The annual list is a snapshot of wealth taken on 9 February each year, using that day’s stock prices and exchange rates to calculate an individual’s total fortune.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Topping the list this year is Amazon founder and CEO Jeff Bezos. The Seattle-based businessman’s fortune jumped from $39.2bn to $112bn in 12 months, the biggest year-on-year gain ever recorded by Forbes. It makes Bezos the only person to appear in the Forbes ranking with a 12-figure fortune.
This was enough to knock Microsoft founder Bill Gates, who has headed the list for 18 of the past 24 years, off the top spot, even though his wealth also increased from $86bn to $90bn.
Looking at the wider picture, the list features a record 2,208 billionaires from 72 countries, with an average net worth of $4.1bn.
The majority come from the US (585) and China (373). Germany (123), India (119) and Russia (102) round off the top five, although they contained fewer billionaires than California alone which has 144.
This elite group of super-wealthy individuals has a combined fortune of $9.1 trillion, up 18% since last year
Luisa Kroll and Kerry Dolan, from Forbes Media, said this huge percentage increase in wealth shows that: “The super-rich continue to get richer, widening the gap between them and everyone else.”
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
-
5 conspiratorial cartoons about FEMA
Cartoons Artists take on paper towel politics, king-sized conspiracies, and more
By The Week US Published
-
Take an island-hopping trip around Brittany
The Week Recommends From neolithic monuments to colourful harbours, there is much to discover
By The Week UK Published
-
Why has Joker: Folie à Deux divided critics?
Talking Point The sequel to Joker is 'staggeringly inept' in its attempts to explore mental health issues – but Lady Gaga is 'magnetic'
By The Week UK Published
-
Donald Trump's bitcoin obsession
The Explainer Former president's crypto conversion a 'classic Trumpian transactional relationship', partly driven by ego-boosting NFTs
By The Week UK Published
-
Would Trump's tariff proposals lift the US economy or break it?
Talking Points Economists say fees would raise prices for American families
By Joel Mathis, The Week US Published
-
Epoch Times CFO charged with money laundering
Speed Read Weidong "Bill" Guan stands accused of laundering $67 million
By Peter Weber, The Week US Published
-
Is Marjorie Taylor Greene finished?
Talking Points Marjorie Taylor Greene's effort to oust House Speaker Mike Johnson failed, but it still left many of her fellow Republicans furious
By Harold Maass, The Week US Published
-
Will college Gaza protests tip the US election?
Talking Points Gaza protests on U.S. campuses pose problems for Biden like the ones that hurt Lyndon B. Johnson in the '60s
By Harold Maass, The Week US Published
-
Can Trump get a fair trial?
Talking Points Donald Trump says he can't get a fair trial in heavily Democratic Manhattan as his hush money case starts
By Harold Maass, The Week US Published
-
What RFK Jr.'s running mate pick says about his candidacy
Talking Points Robert F. Kennedy Jr.'s' running mate brings money and pro-abortion-rights cred to his longshot presidential bid
By Harold Maass, The Week US Published
-
New York may seize Trump's assets for $450M penalty
Speed Read The former president likely owes $600 million from two civil judgments in New York
By Peter Weber, The Week US Published