TO CLOSE

The net worth of Jeff Bezos has reached new heights.
Time

For 24 years, Microsoft co-founder Bill Gates was ranked # 1 in the Forbes ranking among the richest Americans. But not more

Amazon.com CEO and founder Jeff Bezos has overtaken Gates at the magazine's annual conference. list of the 400 richest Americans. Its net worth is $ 160 billion, up from $ 81.5 billion a year ago.

Gates is now No. 2 with Warren Buffett, CEO of Berkshire Hathaway, Mark Zuckerberg, co-founder of Facebook and Larry Ellison, co-founder of Oracle, retaining the following three places, the same positions as in the list of 39 last year, the magazine reported Wednesday.

President Donald Trump lost 11 spots on the list at number 259, but his net worth remained about the same at $ 3.1 billion.

He is linked with 11 other people at this location along with Third Point hedge fund founder Daniel Loeb and Mary Alice Dorrance Malone, the largest shareholder of Campbell Soup Co., among others.

In a story that accompanies it, Forbes notes that Trump does not further enrich himself as president. The magazine found that the net operating profit of Trump Organization had dropped by 27% between 2014, the year before the announcement of its presidential race by Trump, and its first year at the White House in 2017.

It makes sense that Bezos ranks first, since he was named, three months ago, the richest person in modern history by the Bloomberg Billionaires Index.

Bezos is the largest shareholder of Amazon. Its shares (AMZN) have increased 60% since the beginning of the year to reach $ 1,971.31 per share. Its stake is valued at $ 158.1 billion, according to S & P Global Market Intelligence.

Overall, the net worth of the 400 richest Americans has risen from $ 2.7 trillion in 2017 to $ 1.9 trillion. The minimum net worth to appear on this list was $ 2.1 billion, up from $ 2 billion last year.

"We are seeing more billionaires than ever before, partly because of the strength of the stock market and the current technology boom," Luisa Kroll and Kerry Dolan, deputy editors of Forbes' fortune division, said in a statement. Media. "For the first time, more than a third of US billionaires were too poor to be among the country's 400 richest."

The average person on the list was $ 7.2 billion, a new record and an increase from the $ 6.7 billion the year before.

For the first time, Forbes ranked people on the list for their philanthropic efforts. Tesla CEO Elon Musk is ranked 24th ($ 19.6 billion).

A little more women (57) were registered, Alice Walton, the daughter of Walmart founder Sam Walton ($ 44.9 billion) ranking first, in 12th place.

Follow USA TODAY reporter Mike Snider on Twitter: @MikeSnider.

Read or share this story: https://www.usatoday.com/story/money/business/2018/10/03/amazon-ceo-jeff-bezos-bill-gates-forbes-riches-list/1507867002/