Trump’s net worth plunges $1 billion in less than a month

Forbes launched your 34th annual list of billionaires in the world, which ranks the richest people in the world, and the President Donald TrumpEstimated wealth has declined dramatically.

Trump’s fortune fell $ 1 billion in just one month and he dropped from 715th on the list to 1001st place, according Forbes.

As of March 1, Forbes valued Trump’s net worth at $ 3.1 billion. After the markets took a turn due to the coronavirus pandemic, the president’s fortune was recalculated to about $ 2.1 billion.

The decline is mainly due to a collapse in the value of commercial real estate – most of Trump’s fortune – as well as declines in the value of residential real estate, hospitality properties, licensing and golf courses.

For the third time in a decade, the number of billionaires has dropped as global equity markets imploded. Of those who remain, 51% are poorer than last year.

“Cent billionaire” Amazon CEO Jeff Bezos holds its place in first place for the third consecutive year, despite its net worth having fallen by $ 18 billion. He is valued at $ 113 billion, compared to $ 131 billion in 2019. The decrease in his net worth is mainly due to his recent divorce. Ex-wife MacKenzie Bezos, is 22nd on the list, with a total net worth of $ 36 billion.

bill Gates remains in second place, with a fortune of $ 98 billion, an increase of $ 1.5 billion over last year. Bernard Arnault of LVMH climbs this year’s ranking and debuts in the top three, as the third richest person in the world, with $ 88.8 billion.

Fourth, Warren Buffett’s fortune fell from $ 15 billion to $ 67.5 billion, down from $ 82.5 billion last year. Rounding the top five is Larry Ellison, founder, president and chief technology officer of Oracle Corporation. As the software executive moves up the ranks, his fortune has dropped $ 3.5 billion this year to $ 59 billion.

The richest newbie is Julia Koch, who inherited a 42% stake in Koch Industries from her late husband, David, who died last year. Her $ 38.2 billion fortune places her at number 18 in the ranking, tied with her brother-in-law, Charles Koch.

Koch’s heritage makes her the third richest woman in the world, after WalmartIT’S Alice Walton and Francoise Bettencourt Meyers of L’Oréal. There are only 241 women on the 2020 list, out of a total of 2,095. Seven of the women share their fortunes with their husband, son or brother.

Amid the coronavirus pandemic, the report also looks at how some of the richest people in the world are reinventing their businesses to help in the global response to the coronavirus outbreak – Forbes It’s closely following their actions.

Billionaires, including Mr. Gates; Mr. Arnault; Eric Yuan, CEO of Enlargement; Brian Chesky, CEO of Airbnb; Dallas Mavericks owner Mark Cuban, and several others are using their financial resources to help fight the health crisis and boost the economy.

There are 178 billionaires who made this list for the first time. Yuan debuts on the list when Zoom gains massive popularity, while many companies are moving to a remote workforce. Billionaires who built a company or established a fortune on their own make up approximately 70% of the list.

The 2,095 billionaires in the 2020 ranking are below the total of 2,153 in 2019. The combined net worth of billionaires this year is $ 8 trillion, compared to $ 8.7 trillion. 267 people dropped off this year’s list and a record 1,062 individuals had a decline in their fortunes, reflecting turbulent markets and the coronavirus pandemic.

“The richest people in the world are not immune to the devastating impact of coronavirus,” says Kerry Dolan, assistant editor at Wealth, Forbes. “The drop in the number of billionaires this year reflects the economic impact that the pandemic is already having.”

Regionally, Asia-Pacific has the largest number of billionaires, with 778, followed by the USA with 614 and Europe with 511. By country, the USA leads with the largest number of billionaires, with 614 (against 607 last year), followed by by China. with 389 (up from 324 last year); Germany with 107 (below 114), India with 102 (below 106) and Russia with 99 (above 98).

Paula Fonseca