Bill Gates Still World's Richest With $86 Billion Fortune, According to Forbes

21 March, 2017, 23:51 | Author: Oscar Goodwin
  • Five Austin Area Magnates Make Forbes Richest People List

Forbes magazine released their list of the world's richest people; which includes more than 2,000 billionaires.

Forbes has valued Chaudhary's net worth at US$ 1.31 billion, up from US$ 1.1 billion previous year.

On the other hand, another hedge fund giant, Leon G. Cooperman of Omega Advisors Inc., saw his net worth slip to $3 billion, down from $3.2 billion in 2016.

Forbes, in turn, notes that Trump has a long history of trying to inflate his Forbes valuation and decades ago editors even joked about having a "Trump rule" when assessing Trump's net worth - consider the amount Trump claims and then divide it by three to get the real worth. As Forbes points out, a decline in Midtown Manhattan real estate automatically translated to a decline in Trump's wealth.

"Forty percent of Donald Trump's fortune is tied up in Trump Tower and eight buildings within one mile of it".

Researchers there attributed part of the U.S.' advantage to the outsized gains in the tech industry.

Forbes pointed out that Trump would likely have missed out on the stock market rally, as he indicated during the election campaign that he sold all of his stock holdings.

Analysts said Mr. Otedola fell off the list as a result of the plunging share price of his oil company, Forte Oil, while a devaluation of the Nigerian currency, the Naira, was responsible for Mr. Rabiu's ousting.

Eric Trump told Forbes he will update his father on the family business's financials "probably quarterly". With high-spending fans and friends of the president booking up rooms in Trump hotels around the globe, Trump's hotel management and licensing business did see a boost after the election and is now worth an estimated $97 million. Former Microsoft CEO Steve Ballmer landed 21st on the list with a net worth of $30 billion, and fellow Microsoft co-founder, Paul Allen ranked 42nd on Forbes' list with $19.9 billion.

Through his organization the Bill and Melinda Gates Foundation, billionaire philanthropist Gates-who has an estimated fortune of $86 billion-has long championed global health and development causes, Bloomberg reports.

Among the top 10 billionaires, a group heavily dominated by Americans, many from the technology sector, Gates was followed by Berkshire Hathaway chief Warren Buffett, with wealth was estimated at $75.6 billion, a $14.8 billion jump from the 2016 list, despite his pledge to give away 99 percent of his wealth. Amazon's Jeff Bezos had the most profitable year of all, adding $27.6bn to his net worth in just 12 months.

David Thomson and family, whose estimated fortune of $27.2 billion United States put them at 24th position. She is worth $7.4 billion.

According to Forbes, of the 2,043 billionaires, 1,371 were self-made billionaires while 238 inherited their wealth; another 434 inherited at least a portion but are still growing it.

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