Bill Gates tops Forbes' rich list but Trump's wealth slips

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Coming in at 17th on the CT list and 1,940th on the global list is William Macaulay of Greenwich, with a net worth of $1 billion. For 2017, Michael Bloomberg ranked number 10 and the Koch brothers both shared the eighth spot.

Chandler is worth US$1.91b ($2.7b), a drop from US$2.45b ($3.5b) in 2016. Jeff Bezos (No. 3) saw his fortune increase by $27.6 billion for a total net worth of $72.8 billion.

Trump slipped 220 spots on the list to 544 with an estimated $3.5 billion, a decline of $1 billion from previous year. During the campaign he said that he was worth $8.7 billion and said past year in a personal financial disclosure form filed with the federal government that his net worth was "in excess of $10 billion".

A recent breakdown of the president's wealth valued his New York City real estate at $1.7 billion, his real estate outside New York at $630 million, his golf clubs at $620 million, his cash and personal assets at $270 million, and his brand businesses at $230 million.

Mr Gates' fortune was estimated at $75bn past year. "What happens in that micromarket does more to affect the net worth of Donald Trump than anything else in the world".

The annual Forbes list highlights the uneven global wealth.

This puts him more than 200 spots below where he ranked a year ago, with an estimated wealth of $3.5bn.

"Forty percent of Donald Trump's fortune is tied up in Trump Tower and eight buildings within one mile of it", according to Forbes. Their average net worth is $3.75 billion, which means Trump is not even worth as much as the "average" billionaire.

"Booming stock markets, higher commodities prices and plain old-fashioned entrepreneurship helped make this a record year in terms of wealth creation around the globe", said Luisa Kroll and Kerry Dolan, Assistant Managing Editors of Wealth at Forbes Media, said in a press release announcing the list.

Fast-fashion magnate Amancio Ortega, who owns the Zara chain, is No. 4 with a net worth of $71.3 billion, while Facebook founder Mark Zuckerberg rounds out the top five with a net worth of $56 billion.

Notable newcomers included Vietnam's first self-made woman billionaire, Nguyen Thi Phuong Thao, who took her budget airline, VietJet Air, public in February 2017.

For the fourth consecutive year, Microsoft co-founder and philanthropist Bill Gates topped this year's rich with an estimated fortune of around $86bn.

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