The number of billionaires and their total wealth have taken a hit because of stock market drops and economic slowdowns around the world, Forbes’ 2019 ranking of billionaires found.
It’s only the second year in a decade the double whammy has pounded the ranks of the super rich, Forbes reported.
According to Forbes, there are 2,153 billionaires, 55 fewer than a year ago, and 994 of them are poorer than they were last year.
All together, the ultra-rich are worth $8.7 trillion, down $400 billion from 2018, and 247 people dropped out of the ranking — the most since 2009 at the height of the global financial crisis, Forbes reported.
Among the list’s highlights:
- President Donald Trump jumped 51 spots to 715th place on the list, although his estimated fortune stayed the same at $3.1 billion, Forbes reported.
- Jeff Bezos was named the richest guy on Earth for the second year running. The Amazon founder and CEO, who became the list's first "centi-billionaire" last year, is worth an estimated $131 billion, up $19 billion from the previous year, CBS News reported.
- Facebook’s Mark Zuckerberg fell to eighth place, dropping three spots on the list after a tough year at the social network drove down the company's stock price and shrunk his estimated wealth by $8.7 billion to $62.3 billion.
- Kylie Jenner, 21, was named the world's youngest self-made billionaire. The Kylie Cosmetics founder made the list for the first time after her company generated $360 million in sales; Forbes valued her enterprise at a cool $1 billion.
- Bill Gates came in at No. 2 with $96.5 billion; the Microsoft founder had made it to the top of the Forbes' list 12 times since 2001, CBS News noted. He has donated $35.8 billion to his foundation.
- Warren Buffett came in third place, even though his net worth fell by $1.5 billion to $82.5 billion.
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