Shad Khan makes Forbes list of richest people on planet

Shad Khan makes Forbes list of richest people on planet

In Connecticut, Ray Dalio, the founder, chairman and chief investment officer of Westport hedge fund Bridgewater Associates, is worth the most, with a net worth of $16.8 billion. It acknowledges some fortunes may have changed considerably even since then and that sorting out one's net worth is more complex when it is tied to a family fortune. A Greenwich resident, he is ranked 92nd globally with a net worth of $13 billion. Joining Gates in the top three is investor/philanthropist Warren Buffet, with a net worth of $75.6 billion and Amazon CEO Jeff Bezos, the biggest gainer on the list, with a net worth of $72.8 billion.

1,371 members were self-made billionaires.

Mr Gates' fortune was estimated at $75bn a year ago. White ranked 722nd on the year-ago list, with a fortune of $2.4 billion.

But not all of the trends were negative for Trump.

Forbes said that much of the decline in Trump's net worth is due to softness in the midtown Manhattan real estate market.

"Booming stock markets, higher commodities prices and plain old-fashioned entrepreneurship helped make this a record year in terms of wealth creation around the globe", assistant managing editors of wealth at Forbes Media Luisa Kroll and Kerry Dolan said in a statement.

Ironically the list comes out the same day that Trump is meeting with Bill Gates, who is the world's richest man for the fourth straight year, according to Forbes.

The full list of billionaires can be seen here.

Buffett, the legendary value investor known as the "Oracle of Omaha", reclaimed the No. 2 berth after a two-year hiatus.

Fast-fashion magnate Amancio Ortega, who owns the Zara chain, is No. 4 with a net worth of $71.3 billion, while Facebook founder Mark Zuckerberg rounds out the top five with a net worth of $56 billion.

Third place went to Bezos, who apparently was the biggest victor on the 2017 list.

"But it's not exactly shocking, given the rapid transition over the last 20 years away from shopping in physical retail stores in lieu of online shopping, where retailers like Amazon can offer lower pricing on products and services because they don't have to offset the costs of also paying for physical stores", Yahoo Finance reported.