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The Forbes billionaires list features a number of wealthy locals
21 March 2017, 12:46 | Ross Houston
Bill Gates is the richest person in tech
Donald Trump's net worth has fallen by $1 billion in the past year, dropping all the way down to a paltry $3.5 billion, according to Forbes, which lowered the president 220 spots on its annual ranking of the world's billionaires.
The new Forbes 2017 Billionaires List suggests that there are more tech billionaires than ever before this year and together they own $1 trillion of the world's wealth.
Simon, 82, the co-founder of Simon Property Group, has a net worth estimated at $2.8 billion, the same as a year ago, Forbes said.
The youngest member of the list is John Collison, the 26-year-old founder of Internet payment startup Stripe, who boasts a net worth of $1.1 billion. Peterffly also topped the Florida billionaires' list in 2016.
The U.S. had the most billionaires with a number of 565, and China came the second with 319 billionaires.
Sy and his family had a net worth of $12.7 billion and ranked 94th worldwide.
Alhough famed Silicon Valley executives Mark Zuckerberg and Larry Ellison are in the top 10 with $56 billion and $52.2 billion, respectively, the technology industry did not dominate the front end of the list. Gates has been the richest person in the world for 18 out of the last 23 years.
Last year, Trump ranked at No. 324 with $4.5 billion. "Lately, the neighbourhood has been struggling (relatively speaking)", it added. That's the first time the figure has cracked 2,000.
Mr Trump would also have missed the big Wall Street shares rally following his election, assuming he sold off all of his stocks during last year's campaign, the magazine said.
Microsoft founder Bill Gates leads the list for the fourth year in a row, with a fortune of $86 billion, $11 billion more than last year.
The president's net worth has tumbled to $3.5 billion as the value of office and retail space in Midtown Manhattan, where Trump owns about 10 buildings, took a hit, according to the magazine's yearly rankings of the world's billionaires.
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The number of people with ten-figure fortunes now stands at 2,043, which is 233 more than previous year . According to Forbes' report, there are more billionaires worldwide this year than there was last year.
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