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Amazon's Bezos tops Forbes richest list, pandemic knocks Trump lower

Published 09/08/2020, 07:07 AM
Updated 09/08/2020, 08:46 AM
© Reuters. FILE PHOTO: A combination photo of Amazon CEO Jeff Bezos and U.S. President Donald Trump in New York and in Washington

By Sheila Dang and Catherine Koppel

(Reuters) - Amazon (NASDAQ:AMZN) Chief Executive Jeff Bezos topped Forbes' list of richest Americans for the third year in a row, while U.S. President Donald Trump's ranking dropped as the coronavirus pandemic slammed his office buildings, hotels and resorts, the magazine said Tuesday.

The aggregate wealth of the Forbes 400 list rose to a record $3.2 trillion, as the richest Americans continued to do well even though the pandemic has devastated the economy and caused more than 1.8 million Americans to lose their jobs.

Eric Yuan, chief executive officer of Zoom Video Communications (NASDAQ:ZM), which has become ubiquitous in the work-from-home era, was one of 18 newcomers on the list with a net worth of $11 billion.

Trump's ranking dropped to No. 352 from 275 last year as his net worth fell to $2.5 billion from $3.1 billion, as office buildings, hotels and resorts, have suffered during the pandemic. His business, the Trump Organization, owns property in all three categories.

Trump has long refused to release his tax records, and has been locked in a battle with Manhattan District Attorney Cyrus Vance, who subpoenaed Trump for eight years of personal and corporate returns.

The annual list can serve as a way to track the wealthiest people in the country who hold the most power, said Kerry Dolan, assistant managing editor of wealth at Forbes, in an interview with Reuters TV.

"As a society, we all should know who is behind the biggest companies and what they're doing with their money," she said.

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Latest comments

Another useless article from Reuters....so what?..what does the average American care about this chit...
How could Trump’s net worth not be lower each year? He even donates his presidential paychecks away.
Trump stimulus makes him poorer... it is karma to himself... shame on you trump..
only diff is he holds real assets not some fluctuating equity investments
I am not interested in sombody elses money. If Bezos is the richest, good for him. If Trump is bottom, dont care. If somebody care n read these articles, u have too much time to waste
So Forbe estimates that Bezos got 10x more money than Trump.....this is going to trigger a twitter temper tantrum from president orange for sure......
Trump is good at bankruptcy 's take loans siphons off the money declaring bankruptcy
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