News Worms
News Worms


The Forbes billionaires list features a number of wealthy locals

The Forbes billionaires list features a number of wealthy locals

From titan investors to the reigning royalty of the tech world, the usual suspects tend to top the list and consistently make the cut year after year, from Bill Gates to Warren Buffett.

Second on Connecticut's list is Steven Cohen, founder of Point72 Asset Management and S.A.C.

The 2017 list of the world's richest people as compiled by Forbes is out, with 233 new billionaires among 2,043 listed by the magazine.

The magazine also notes that he gave $66 million to his presidential campaign and paid $25 million to settle a lawsuit related to Trump University. During the campaign he said that he was worth $8.7 billion and said a year ago in a personal financial disclosure form filed with the federal government that his net worth was "in excess of $10 billion".

As a result, his position on the Forbes' ranking dropped 220 spots, leaving him tied with 19 others as the 544th richest person in the world. Forbes' tally includes 2,043 billionaires, up from 1,810 in 2016, with an average net worth of $3.75 billion.

Others in the top ten, which is heavily dominated by Americans in the technology sector, were Facebook founder Mark Zuckerberg, at number five, Oracle co-founder Larry Ellison at number seven and Amazon's founder Jeff Bezos.

But not all of the trends were negative for Trump.

The number of United States billionaires on the list was 565, which Forbes attributed to the recent stock market surge since Mr Trump's November 2016 election.

The total combined net worth of this year's billionaires was $7.67 trillion, up from $6.48 trillion last year.

While Mr. Trump's net worth slipped, more people were qualifying for the list.

The annual Forbes list highlights the uneven global wealth. That's up from $4.8 billion and 298th on last year's list. His net worth surged to $75.6 billion from $60.8 billion.

Notable newcomers included Vietnam's first self-made woman billionaire, Nguyen Thi Phuong Thao, who took her budget airline, VietJet Air, public in February 2017.

Indiana's richest man got much wealthier over the past year, according to calculations released Monday by Forbes magazine.

For the fourth time in a row, Bill Gates was named as the richest man in the world, with an estimated fortune of US$86b ($122b), while Warren Buffett came in at second place with a net worth of US$75.6b ($107b).

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