Trump tumbles down Forbes rich list

Bill Gates heads up the elite club, with two Limerick lads gaining membership this year...

It's "as you were" at the summit of Forbes' annual Rich List with Bill Gates once again named the wealthiest person on Earth, but US President Donald Trump took yet another tumble down hundreds of rungs of the billionaires ladder.

The magazine cited falling house prices in Manhattan as one of the main reasons for his property business taking a big hit, whilst the new White House resident also pumped millions of dollars into his successful presidential campaign to bring his net worth to roughly $3.5bn (€3.24bn).

His fortune has shrunk by an estimated $200m (€186m) since he took office. Trump is ranked 544th on the annual rich list, down from 324th position in 2016.

It means he has now fallen by over 200 positions for two consecutive years – Forbes put his net worth at $4.5bn (€4.17bn) last year, though this was less than half the figure he was claiming to have at the time.

Bill Gates

Gates reigns supreme at the business end of the listings for the fourth ear in a row, with the Microsoft founder and philanthropist worth an estimated $86bn (€79.63bn).

Warren Buffett placed just behind him, with a fortune put at $75.6bn (€70bn).

Rub of the green

In terms of Irish representation, the Collison brothers joined the Forbes elite for the first time.

The Limerick-born pair are behind the global online payments firm Stripe and landed in joint 1,795th place out of 2,043 billionaires with an estimated fortune of $1.1bn (€1.02bn) each.

The 26-year-old John, who is two years behind his brother Patrick, is the youngest self-made billionaire on the list.

Stripe founders Patrick (left) and John Collison


Meanwhile, the highest-placed Irish person is Irish-Indian construction tycoon Pallonji Mistry.

He sits in 77th position with an estimated fortune of $14.3bn (€13.3bn).

The rest of the Emerald Isle's representation consists of:

American-born financier John Grayken (215th with $6.6bn), businessman Denis O'Brien (348th with $4.7bn), Campbell Soup heir John Dorrance (745th with $2.7bn), businesman Dermot Desmond (1,030th with $2bn), and Glen Dimplex entrepreneur Martin Naughton (1,234th with $1.7bn).