Trump drops more than 200 spots in Forbes' annual billionaire list

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President Trump's fortune has dropped by roughly $1 billion since last year, according to Forbes magazine's latest ranking of the world's billionaires.

The decline in Trump's net worth is due to a drop in the value of office space in Midtown Manhattan, according to the Guardian. Forbes ranks Trump as the world's 544th richest person, after coming in at No. 324 last year. He has famously refused to reveal his tax returns that would identify his actual net worth, but has claimed it's "in excess" of $10 billion.

Bill Gates once again sits atop the list. The Microsoft co-founder has now been the richest person in the world for 18 out of the past 23 years, per Forbes.. He has a fortune of $86 billion, up from $75 billion last year, while Warren Buffett ranks No. 2 with $75.6 billion. Amazon's Jeff Bezos is third with $72.8 billion, followed by Spanish clothing retailer Amancio Ortega and Facebook's Mark Zuckerberg.

See how much Trump's cabinet members are worth:

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Net worths of Trump's Cabinet members
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Net worths of Trump's Cabinet members

Ryan Zinke, Secretary of the Interior: $800,000

Before serving in Congress, Zinke, who has an MBA, started Continental Divide International in 2005, a property management and business development consulting company. He later formed a consulting company, On Point Montana, in 2009.

REUTERS/Carlos Barria TPX IMAGES OF THE DAY

Mike Pence, Vice President: $800,000

Pence became an attorney in a private practice after graduating from law school before serving in Congress and then becoming the Governor of Indiana.

(BRENDAN SMIALOWSKI/AFP/Getty Images)

Rick Perry, Secretary of Energy: $2 million 

Former Texas Gov. Rick Perry banks at least $100,000 from speeches and $250,000 from consulting Caterpillar. Additionally, the politician has about 20% of his portfolio invested in in oil-and gas partnerships and energy stocks, according to Forbes.

REUTERS/Carlos Barria

John Kelly, Secretary of Homeland Security: $4 million 

Kelly, who spent over four decades in the military, amassed the majority of his wealth from government pension. 

(Photo by Mario Tama/Getty Images)

James Mattis, Secretary of Defense: $5 million

Like Kelly, the four-star general made most of his money from government pension. He also sits as a director of General Dynamics. 

REUTERS/Ed Jones/Pool

Jeff Sessions: $6 million (Attorney General)

Sessions owns more than 1,500 acres in Alabma that are worth at least $2.5 million. The rest of his fortune is in Vanguard mutual funds and municipal bonds, according to Forbes.

REUTERS/Kevin Lamarque

Tom Price, Secretary of Health and Human Services: $10 million

Price ran an orthopedic clinic in Atlanta for 20 years, then taught orthopedic surgery as an assistant porfessor at his alma mater, Emory.

REUTERS/Carlos Barria

Elaine Chao, Secretary of Transportation: $24 million

The daughter of a shipping magnate owes the buld of her and her husband Mitch McConnell’s wealth to her family. 

REUTERS/Carlos Barria

Ben Carson, Secretary of Housing and Urban Development: $29 million 

The neurosurgeon earned millions from books he penned, media roles and speaking gigs. He also served as a director at Kellogg and Costco, accumulating more than $6 million in stocks. 

REUTERS/Las Vegas Sun/Steve Marcus/File Photo

Andy Puzder, Secretary of Labor: $45 million 

The CEO of CKE Restaurants, which owns Carl’s Jr. and Hardee’s, has earned at least $25 million in salary and bonuses since 2000.

(Photo by Al Seib/Los Angeles Times via Getty Images)

Steven Mnuchin, Secretary of the Treasury: $300 million 

The former Goldman Sachs partner purchased subprime mortgage lender IndyMac for $1.6 billion in 2009 with a group of billionaire investors and sold it for $3.4 billion six years later.

(Photo By Tom Williams/CQ Roll Call)

Rex Tillerson, Secretary of State: $325 million

The former ExxonMobil chairman and CEO accumulated more than 2.6 million shares of company stock in his tenure and hefty pay packages, according to Forbes.

(BRENDAN SMIALOWSKI/AFP/Getty Images)

Betsy DeVos, Secretary of Education: $1.25 billion

The daughter of a shipping magnate owes the bulk of her and her husband Mitch McConnell’s wealth to her family.

(Photo by Samuel Corum/Anadolu Agency/Getty Images)

Wilbur Ross, Secretary of Commerce: $2.5 billion 

Known as the "King of Bankruptcy," the former banker bought bankrupt companies and later selling them for a large profit.

 REUTERS/Carlos Barria
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Trump might have slipped, but other members of the list are doing quite well for themselves. Forbes' tally includes 2,043 billionaires, up from 1,810 in 2016, with an average net worth of $3.75 billion. The total combined net worth of this year's billionaires is $7.67 trillion, up from $6.48 trillion last year.

"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.

The total number of women on the list is 227, up from 202 in 2016. 56 of the billionaires are under 40 years-old, down from 66 in 2016.

Bezos, who has been producing award-winning content on Amazon's streaming service, is the only person from the entertainment industry among the Top 20, which also features three different members of Wal-Mart's Walton family and Las Vegas casino tycoon Sheldon Adelson.

Read original story Trump Drops More Than 200 Spots in Forbes' Annual Billionaire List At TheWrap

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