Amazon CEO Bezos tops Forbes list of richest people, Trump's ranking slips amid COVID-19

For the third consecutive year,  Amazon Chief Executive Jeff Bezos topped Forbes' list of richest Americans, while US President Donald Trump’s ranking slipped down further, according to the magazine’s report. Earlier in March, Trump had already dived lower by at least 200 places in the world's billionaire rankings after losing around $400 million in his net worth. In the recent listing, that aggregates to US$3.2 trillion (S$4.3 trillion), Trump's hotels and resorts have suffered additional losses due to the ongoing coronavirus pandemic. Meanwhile, the richest Americans continued to retain their top ranking despite the economy with a loss of 11 million jobs. 

Chief executive officer of Zoom Video Communications, Eric Yuan, is one of the top performers among the 8 newcomers on the list, worth nearly US$11 billion, according to Forbes. Meanwhile, Trump’s ranking toppled to 352 from 275 last year, 2019, his net worth amounting to US$2.5 billion from US$3.1 billion, in March. The magazine had earlier attributed the impact to "a tough New York real estate market, particularly for retail locations; a costly lawsuit and an expensive presidential campaign."Trump Tower, had gone in a loss of an estimated $41 million then. Besides, the US President had shelled $25 million defending lawsuits that accused Trump University real estate courses of ‘fraud’. However, Amazon chief Bezos has managed to retain his numero-uno spot as the wealthiest person in the world, despite the pandemic. 

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Bezos’ net worth fell to $113 billion in 2019

Assistant managing editor of wealth at Forbes, Kerry Dolan, reportedly said that the people knew how the biggest companies were run and who were the key players behind them. Last year, although, Bezos’ net worth fell from $18 billion to $113 billion due to the split with MacKenzie Bezos. However, Amazon managed to spike its stocks by 15 percent last year, the Forbes report confirmed. Further, a $38 billion divorce settlement was paid out to MacKenzie, with an additional 25 percent stocks in Amazon, according to a CNN report. 

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