NEW YORK – Forbes magazine has released its 36th list of the 400 richest people in America. President Donald Trump ranks No. 248 on that list with a net worth of $3.1 billion.
Bill Gates tops The Forbes 400 for the 24th consecutive year, with a net worth of $89 billion this year. Amazon’s Jeff Bezos, worth $81.5 billion, retains the No. 2 spot for the second consecutive year. Warren Buffett, who prior to 2016 held the No. 2 spot for 15 consecutive years, is now No. 3 for the second year in a row. The biggest gainer (in dollar terms) of The Forbes 400 list is Facebook’s Mark Zuckerberg. Despite a $15.5 billion increase in net worth, Zuckerberg remains in No. 4, worth $71 billion. Rounding out the top 5 is Larry Ellison (No. 5), worth $59 billion, up $9.7 billion from last year.
Members of the Forbes 400 (“The Forbes 400” p. 86 of the November 14, 2017 Special Issue of Forbes magazine), have a record-breaking, combined total net worth of $2.7 trillion, up from $2.4 trillion in 2016. The minimum net worth now required to be counted among the very richest Americans hit a record high of $2 billion, up from $1.7 billion in 2015 and 2016. There were 169 billionaires who did not make the cut. However, even at these new heights, there were 22 newcomers to this year’s list. The average net worth of a Forbes 400 member hit $6.7 billion, also a record high, up from $6 billion last year.
“America’s richest are richer than ever. The minimum net worth to make the Forbes list of 400 wealthiest Americans is now a record $2 billion,” said Luisa Kroll and Kerry Dolan, assistant managing editors of wealth at Forbes Media.
“But even at these new heights, entrepreneurs are breaking into the ranks for the first time as they mint fortunes in everything from Netflix and telecom to vodka and fishing.”< Donald Trump is on the cover of the Forbes 400 issue and is the richest man to become President of the United States. Unfortunately for Trump, Forbes said his wealth is down $600 million to a net worth of $3.1 billion due to a weakening in the New York City retail and office real estate market as well as new information. Trump was ranked No. 156 in 2016. As part of The Forbes 400 package, Forbes presents an asset-by-asset breakdown of his empire. Forbes has been tracking The Donald’s fortune since the debut of The Forbes 400 in 1982.