US President Donald Trump has dropped to 544th place from 324th in Forbes' annual list of world billionaires after his net worth fell to 3.5 billion dollars from 4.5 billion last year, the magazine said Monday.
The 70-year-old became the first billionaire president in US history when he was inaugurated in January but the New York real estate mogul says he has relinquished all involvement in his businesses since winning the election.
"Midtown Manhattan real estate is down; therefore, so is Donald Trump’s fortune," Forbes said in a statement.
There are a record 2,043 entrants on the 31st annual ranking of world billionaires, with Microsoft founder Bill Gates remaining the richest person in the world for the fourth year in a row. His net worth has risen to 86 billion dollars from 75 billion in March last year.
Investor Warren Buffett - worth 75.6 billion - has reclaimed the number two spot while Amazon's Jeff Bezos was the biggest gainer on the 2017 list as his fortune increased by 27.6 billion to 72.8 billion dollars, putting him third.
Spanish clothing tycoon Amancio Ortega, best known for the Zara fashion chain, falls to fourth on 71.3 billion dollars with Facebook's Mark Zuckerberg worth 56 billion dollars in fifth.
Royalty and dictators are excluded from the list as their fortunes are not deemed to be personal.