Cook Group CEO leads smaller list of IN billionaires

Lots to discuss. Lots

Forbes released its list of the world's billionaires with Bill Gates remaining the world's richest man, worth US$86 billion (NZ$122 billion). "Lately, the neighbourhood has been struggling (relatively speaking)", Forbes said. Bezos added $27.6 billion to his fortune to reach $72.8 billion and move into the top three for the first time.

While Gates' pal Warren Buffett took over the No. 2 spot at $75.6 billion, it was Amazon founder and CEO Jeff Bezos who had the best year of anyone.

"Forty percent of Donald Trump's fortune is tied up in Trump Tower and eight buildings within one mile of it", said Forbes. Those with local ties included Medford native and former New York Mayor Michael Bloomberg ($47.5 billion net worth, 10th place), Dorchester native and casino magnate Sheldon Adelson ($30.4 billion, 20th), and Boston Latin School alum and former Viacom Chairman Sumner Redstone ($5.4 billion, 288th).

Trump's dwindling net worth is going the other direction from many other billionaires during the past 12 months, who collectively saw their ranks swell to 2,043 worldwide with the addition of 233 newly minted billionaires, according to Forbes.

Forbes reported Donald Trump's wealth dropped by about US$1b to US$3.5b over the past year.

The United States has the most billionaires on the list (565), with China and Germany following, boasting 319 and 114 billionaires, respectively.

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Warren Buffett was second after his net worth rose by almost $15 billion, to $75.6 billion.

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.

Mr. Trump previously has labeled media reports about the inquiry as "fake news". Last year, he ranked No. 7.

The magazine estimated the worth of the Mar-a-Lago resort in Florida rose $25m due to post-election exposure. Peterffy is worth $13.8 billion, coming in at No. 82 on the Forbes' list.

Notable newbies include Patagonia sportswear founder Yvon Chouinard; Viking Cruises founder Torstein Hagen of Norway; US hedge fund tycoon Cliff Asness and two of his partners; and John and Patrick Collison, Irish citizens who cofounded San Francisco-based Stripe, which enables online payments.

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