Bill Gates again world's richest man, Trump slips

Bill Gates

Forbes said the $1bn drop in his riches was as a result of United States property market that was sluggish.

Lucio Tan was the third richest Filipino with $3.7 billion net worth, $3 million lower than a year ago.

Forbes said the RIL chairman sparked a price war in the Indian telecom market with the launch of the Jio4G phone service last September.

The Microsoft founder's net worth is $86 billion, up from $75 billion past year.

This puts him more than 200 spots below where he ranked last year, with an estimated wealth of $3.5bn compared to $3.7bn last year and $4.5bn the year before.

While our Malaysian billionaires are nowhere near the likes of Bill Gates and Warren Buffet, it is notable that 12 of them were named in Forbes 2017 Billionaires List.

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In an article published in September 2015, Forbes wrote that no other mogul featured on their annual rich list has been "more fixated with his or her net worth estimate on a year-in, year-out basis than Donald J Trump".

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.

Coming in at number five, with a net worth of $56 billion, is Mark Zuckerberg.

Mr Trump would also have missed the big Wall Street rally following his election, assuming he sold off all of his shares during last year's campaign, the magazine said.

The worldwide population of billionaires set marks, in a record 2,043 the largest yearly increase in the 31 years since the magazine started compiling the list.

Most of the richest women inherited their fortune, Forbes said. China comes next with 319, while Germany is at number three with 114.

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"Recently, the neighbourhood continues to be fighting - comparatively speaking".

The magazine also said that his wealth was hit by $66m in political spending on his successful presidential campaign, as well as $25m to settle litigation he allegedly ripped off students at Trump University.

However, the trends not all were negative for Mr Trump.

The magazine estimated the worth of the Mar-a-Lago resort in Florida rose $25m due to post-election exposure.

Buffett's wealth was estimated at Dollars 75.6 billion.

Among other luminaries on the list, Alibaba founder Jack Ma was 23rd with $28.3 billion; activist investor and Trump deregulation adviser Carl Icahn was 55th with $16.6 billion; fashion designer Giorgio Armani was tied for 215th with $6.6 billion; Hollywood director Steven Spielberg was tied for 501st with $3.7 billion; and entertainment giant Oprah Winfrey was tied for 660th with $3 billion.

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