President Trump falls more than 200 spots on Forbes Billionaires List

Posted at 6:27 PM, Mar 06, 2018
and last updated 2018-03-06 18:27:03-05

The Forbes 2018 Billionaires List is out — and it’s bad news for President Trump.

The president has dropped more than 200 spots since last year to No. 766 on the list, where he’s tied with more than 20 others. The magazine estimates his net worth at $3.1 billion, down from $3.5 billion last year.

Forbes said that Trump’s fortune fell in part due to declining Manhattan real estate values, as well as lower revenues at several Trump golf properties.

Amazon founder and CEO Jeff Bezos topped the list for the first time this year, according to Forbes.

He’s currently worth an estimated $112 billion, up $39.2 billion from 2017. Forbes said that jump amounts to the biggest one-year gain ever.

Bezos knocked Microsoft founder Bill Gates to the No. 2 spot, after Gates spent four straight years on top.

Related: Jeff Bezos just passed Bill Gates as the world’s richest person

Gates is worth an estimated $90 billion, up from $86 billion last year, according to Forbes.

The Bezos bump also pushed Warren Buffett down to No. 3. Buffett is worth an estimated $84 billion.

All together, the billionaires on the list are worth $9.1 trillion.

Forbes identified a record 2,208 billionaires around the world in 2018, up from 2,043 last year.