A new report has claimed that the collective wealth of the United States' 651 billionaires rose by over $1 trillion roughly since the time the coronavirus pandemic began and now stands at a combined total of $4 trillion on Monday.

The cumulative net worth of the US's 651 billionaires jumped from $2.95 trillion on March 18 to $4.01 trillion on December 7, a jump of 36 per cent based on Forbes billionaires, as per a new report by Americans for Tax Fairness (ATF) and the Institute for Policy Studies (IPS).&nbsp;

Also read | <a href="https://www.wionews.com/world/wealth-of-billionaires-rises-to-102-trillion-amid-coronavirus-crisis-333054">Wealth of billionaires rises to $10.2 trillion amid coronavirus crisis</a>

Interestingly, the size of their wealth increase is more than $908 billion relief package proposed by a bipartisan group of Congressmen.&nbsp;

Also read | <a href="https://www.wionews.com/business-economy/vaccine-tycoon-overtakes-jack-ma-to-become-chinas-richest-asias-second-wealthiest-329880#:~:text=Vaccine%20tycoon%20Zhong%20Shanshan%20has,to%20the%20Bloomberg%20Billionaires%20Index.">Vaccine tycoon overtakes Jack Ma to become China's richest, Asia's second-wealthiest</a>

The pandemic has affected the US the most both in terms of the total infections and deaths and the US Department of Agriculture has recently said that an estimated 54 million Americans will struggle with hunger this year, a 45 per cent jump from 2019.&nbsp;

The gains made by these billionaires mean that this amount could lead to a stimulus check of $3,000 to each of the about 330 million people in the country. A family of four would have received more than $12,000.&nbsp;

It is also about four times the $267 billion paid as part of stimulus packages to 159 million people earlier this year. &nbsp;

"Never before has America seen such an accumulation of wealth in so few hands," said Frank Clemente, executive director of Americans for Tax Fairness.

"Their pandemic profits are so immense that America's billionaires could pay for a major COVID relief bill and still not lose a dime of their pre-virus riches. Their wealth growth is so great that they alone could provide a $3,000 stimulus payment to every man, woman and child in the country, and still be richer than they were 9 months ago."

A new report has claimed that the collective wealth of the United States' 651 billionaires rose by over $1 trillion roughly since the time the coronavirus pandemic began and now stands at a combined total of $4 trillion on Monday.

A new report has claimed that the collective wealth of the United States' 651 billionaires rose by over $1 trillion roughly since the time the coronavirus pandemic began and now stands at a combined total of $4 trillion on Monday. The cumulative net worth of the US's 651 billionaires jumped from $2.95 trillion on March 18 to $4.01 trillion on December 7, a jump of 36 per cent based on Forbes billionaires, as per a new report by Americans for Tax Fairness (ATF) and the Institute for Policy Studies (IPS). Also read | Wealth of billionaires rises to $10.2 trillion amid coronavirus crisis Interestingly, the size of their wealth increase is more than $908 billion relief package proposed by a bipartisan group of Congressmen. Also read | Vaccine tycoon overtakes Jack Ma to become China's richest, Asia's second-wealthiest The pandemic has affected the US the most both in terms of the total infections and deaths and the US Department of Agriculture has recently said that an estimated 54 million Americans will struggle with hunger this year, a 45 per cent jump from 2019. The gains made by these billionaires mean that this amount could lead to a stimulus check of $3,000 to each of the about 330 million people in the country. A family of four would have received more than $12,000. It is also about four times the $267 billion paid as part of stimulus packages to 159 million people earlier this year. "Never before has America seen such an accumulation of wealth in so few hands," said Frank Clemente, executive director of Americans for Tax Fairness. "Their pandemic profits are so immense that America's billionaires could pay for a major COVID relief bill and still not lose a dime of their pre-virus riches. Their wealth growth is so great that they alone could provide a $3,000 stimulus payment to every man, woman and child in the country, and still be richer than they were 9 months ago."

Wealth rise of 651 US billionaires alone could pay more than latest stimulus: Report

India added more than three dollar billionaires every month in 2019, taking the tally to 138 that has helped the country to feature at the third position globally, says a Report.

Your Story: India adds 34 new billionaires to the list

From Bill Gates to Jeff Bezos: Generous billionaires who donate for charity

Potential jurors in the defamation trial of high-tech entrepreneur <a href="https://www.wionews.com/world/elon-musk-back-on-twitter-after-break-260218">Elon Musk</a> may be excused from the case if they voice strong feelings about billionaires or people who visit Thailand.

Jury selection was set to begin on Tuesday in the civil suit brought against the Tesla Inc chief executive by a British cave explorer who gained fame for his leading role in the rescue of 12 boys and their soccer coach from a flooded cave in Thailand last year.

The explorer, Vernon Unsworth, says the billionaire, who also founded private rocket company SpaceX, falsely labelled him "pedo guy" on Twitter and should pay punitive and other damages for harming his reputation.

At a pretrial hearing on Monday, US&nbsp;District Judge Stephen Wilson in Los Angeles ruled on several procedural matters and went over ground rules with attorneys for both sides, including the list of questions he will pose during jury selection.

In addition to relatively standard queries such as "Have you ever been a party to a lawsuit," the judge said he would ask prospective jurors some questions unique to the Musk case, including: "Do you have a strong opinion about billionaires?" and "Do you have strong opinions of people who visit or live in Thailand?"

Although an affirmative answer does not necessarily ensure that a potential juror would be excused, such questions are designed to discern an individual's ability to be impartial.

The judge will empanel six to 12 jurors, though Wilson said he finds an eight-member panel to be ideal. Opening statements are expected to begin right after jury selection finishes on Tuesday.

Musk is slated to be the first witness for the plaintiff's team once testimony begins.

The case stems from an offer Musk made to furnish a mini-submarine from his SpaceX company to help with the cave rescue in July 2018.

Unsworth told CNN on July 13, 2018, three days after the rescue was completed, that the offer was a "PR stunt" and that Musk could "stick his submarine where it hurts."

Two days later, <a href="https://www.wionews.com/world/elon-musk-tries-off-hand-humour-again-compares-queen-elizabeth-ii-to-teletubbies-240678">Musk lashed out at Unsworth</a> in a series of tweets, including one which called him a "pedo guy." Musk later apologized for that comment.

The judge explained the case hinges on whether a reasonable person would take Musk's Twitter statement to mean that he was calling Unsworth a paedophile.

To win the defamation case, Unsworth needs to show that Musk was negligent in publishing a falsehood that clearly identified the plaintiff and caused him harm. "Actual malice" on Musk's part does not need to be proven because the judge has deemed Unsworth a private individual rather than a public figure.

Although the case does not involve&nbsp;Tesla, Musk's Twitter habits have long been under close scrutiny, with investors and regulators expressing concerns about his tweets.

With 29.8 million followers, Musk's Twitter account is a major source of publicity for his Palo Alto, California-based electric car company, which does not advertise.

On Monday, the judge refused a defence request to reverse a decision allowing Unsworth's attorneys to introduce an email Musk sent to the news website BuzzFeed in which Musk chided a reporter there to "stop defending child rapists."

Wilson also refused to reverse a ruling that bars plaintiff's lawyers from introducing Musk's financial statements, after defence attorneys acknowledged in court that their client has publicly put his net worth at $20 billion.

Potential jurors in the defamation trial of high-tech entrepreneur Elon Musk may be excused from the case if they voice strong feelings about billionaires or people who visit Thailand.

Potential jurors in the defamation trial of high-tech entrepreneur Elon Musk may be excused from the case if they voice strong feelings about billionaires or people who visit Thailand. Jury selection was set to begin on Tuesday in the civil suit brought against the Tesla Inc chief executive by a British cave explorer who gained fame for his leading role in the rescue of 12 boys and their soccer coach from a flooded cave in Thailand last year. The explorer, Vernon Unsworth, says the billionaire, who also founded private rocket company SpaceX, falsely labelled him "pedo guy" on Twitter and should pay punitive and other damages for harming his reputation. At a pretrial hearing on Monday, US District Judge Stephen Wilson in Los Angeles ruled on several procedural matters and went over ground rules with attorneys for both sides, including the list of questions he will pose during jury selection. In addition to relatively standard queries such as "Have you ever been a party to a lawsuit," the judge said he would ask prospective jurors some questions unique to the Musk case, including: "Do you have a strong opinion about billionaires?" and "Do you have strong opinions of people who visit or live in Thailand?" Although an affirmative answer does not necessarily ensure that a potential juror would be excused, such questions are designed to discern an individual's ability to be impartial. The judge will empanel six to 12 jurors, though Wilson said he finds an eight-member panel to be ideal. Opening statements are expected to begin right after jury selection finishes on Tuesday. Musk is slated to be the first witness for the plaintiff's team once testimony begins. The case stems from an offer Musk made to furnish a mini-submarine from his SpaceX company to help with the cave rescue in July 2018. Unsworth told CNN on July 13, 2018, three days after the rescue was completed, that the offer was a "PR stunt" and that Musk could "stick his submarine where it hurts." Two days later, Musk lashed out at Unsworth in a series of tweets, including one which called him a "pedo guy." Musk later apologized for that comment. The judge explained the case hinges on whether a reasonable person would take Musk's Twitter statement to mean that he was calling Unsworth a paedophile. To win the defamation case, Unsworth needs to show that Musk was negligent in publishing a falsehood that clearly identified the plaintiff and caused him harm. "Actual malice" on Musk's part does not need to be proven because the judge has deemed Unsworth a private individual rather than a public figure. Although the case does not involve Tesla, Musk's Twitter habits have long been under close scrutiny, with investors and regulators expressing concerns about his tweets. With 29.8 million followers, Musk's Twitter account is a major source of publicity for his Palo Alto, California-based electric car company, which does not advertise. On Monday, the judge refused a defence request to reverse a decision allowing Unsworth's attorneys to introduce an email Musk sent to the news website BuzzFeed in which Musk chided a reporter there to "stop defending child rapists." Wilson also refused to reverse a ruling that bars plaintiff's lawyers from introducing Musk's financial statements, after defence attorneys acknowledged in court that their client has publicly put his net worth at $20 billion.

Elon Musk's jury to be queried on opinions of billionaires, visitors to Thailand

Why Are Billionaires Losing Money? #Gravitas

Gravitas: Are The World's Richest Getting Poorer?

US, China top billionaires list; India ranked fourth behind Germany: Forbes

The stunning revelation that a tabloid obtained below-the-belt selfies of Amazon founder Jeff Bezos -- the world's richest man -- suggests that even billionaires are not out of the reach of hackers.

<a href="http://www.wionews.com/world/saudi-arabia-says-has-nothing-to-do-with-bezos-ami-dispute-196445">Bezos came out fighting this week</a>, accusing the National Enquirer of blackmailing him with lurid pictures of him and his mistress and pre-empting the threat to publish by releasing details of the images himself.

But for Mark Johnson, CEO of Sovereign Intelligence, the incident makes clear that "no one is beyond the reach of cyber exploitation."&nbsp;

"It's a curious irony that billionaires demonstrate astounding acumen related to their own industries, and yet seemingly ignore the minutiae of common-place security measures."&nbsp;

Johnson sees billionaires and top executives as especially vulnerable because their personal information is a gold mine for criminals, intelligence agencies and competitors.

"Obtaining their personal data is like having keys to the kingdom," said Johnson, potentially providing priceless insight into the thinking and strategies of the world's most powerful business leaders.

Ian Bremmer, the founder of the Eurasia Group think tank, put it more bluntly.

"If the National Enquirer has @JeffBezos dick pics, don't tell me China doesn't have @Amazon IP and strategy," he tweeted.

Increase in calls&nbsp;

Since the revelations about Bezos, whose fortune is estimated at more than $130 billion, computer security experts interviewed by AFP report an increase in calls from wealthy clients asking them to verify that their computer systems and devices were not hacked.

"Today's threats, however, are not necessarily trying to breach the walls of the castle -- they are already inside, residing on personal devices," said Kris Coleman, the founder of Red Five Security. "Experience has shown that the typical breach is not discovered for eight months."

In this ever-more connected age, more and more personal data is stored online -- from social security numbers to bank details, driver's license numbers and personal addresses.

As a result, the focus of security measures for the ultra-wealthy has shifted from bodyguards and sophisticated alarms towards risk management to protect their assets, their image and their "legacy."

The super-wealthy will typically have their own computer security service and also call on external companies for regular evaluation of their devices because a large number of hacks are detected by third parties, according to observers.

Mark Zuckerberg, Facebook's CEO, spent $7.3 million on his security in 2017, up from $4.2 million in 2015 -- astronomical sums that the social network deemed justified due to his prominence.

Last July, Facebook said it would give him $10 million more per year to strengthen his security.

"Protection from colluding insiders working from positions of trust; or, against an intelligence agency trying to attack from the outside is going to require a large investment, a lot of experience, and vigilance," said Coleman.

Entourage

For Johnson, "no one's data is that well protected. Think of all the third-party platforms that have your social security number, or banking information, or that hold your personal pictures."

Just days before Bezos disclosed that a tabloid had obtained his intimate selfies, a fellow billionaire -- Joe Ricketts, the founder of the broker TD Ameritrade Holding Corporation -- was ensnared in scandal following the release of private messages.

The American news site Splinter published a series of racist emails from Ricketts, without saying how it obtained them.

The exchanges, some of which date back to 2009, show the 77-year-old sharing and apparently endorsing racist jokes and conspiracy theories. He has since apologized.

Back in August 2015, a cyber attack on the Ashley-Madison extramarital dating site revealed that American billionaire Dan Loeb had an account there.

Bezos did not say how the National Enquirer obtained his pictures, but experts say the most common method is for a hacker to usurp the identity of a member of a person's entourage.

"The adversary would send a message to the target asking them to click on a link in a text or email," Coleman explained. "The sender's real identity is hidden but the target trusts the message from their 'friend' and clicks the link unlocking malware or another type of attack on that device."

The stunning revelation that a tabloid obtained below-the-belt selfies of Amazon founder Jeff Bezos -- the world's richest man -- suggests that even billionaires are not out of the reach of hackers.

The stunning revelation that a tabloid obtained below-the-belt selfies of Amazon founder Jeff Bezos -- the world's richest man -- suggests that even billionaires are not out of the reach of hackers. Bezos came out fighting this week, accusing the National Enquirer of blackmailing him with lurid pictures of him and his mistress and pre-empting the threat to publish by releasing details of the images himself. But for Mark Johnson, CEO of Sovereign Intelligence, the incident makes clear that "no one is beyond the reach of cyber exploitation." "It's a curious irony that billionaires demonstrate astounding acumen related to their own industries, and yet seemingly ignore the minutiae of common-place security measures." Johnson sees billionaires and top executives as especially vulnerable because their personal information is a gold mine for criminals, intelligence agencies and competitors. "Obtaining their personal data is like having keys to the kingdom," said Johnson, potentially providing priceless insight into the thinking and strategies of the world's most powerful business leaders. Ian Bremmer, the founder of the Eurasia Group think tank, put it more bluntly. "If the National Enquirer has @JeffBezos dick pics, don't tell me China doesn't have @Amazon IP and strategy," he tweeted. Increase in calls Since the revelations about Bezos, whose fortune is estimated at more than $130 billion, computer security experts interviewed by AFP report an increase in calls from wealthy clients asking them to verify that their computer systems and devices were not hacked. "Today's threats, however, are not necessarily trying to breach the walls of the castle -- they are already inside, residing on personal devices," said Kris Coleman, the founder of Red Five Security. "Experience has shown that the typical breach is not discovered for eight months." In this ever-more connected age, more and more personal data is stored online -- from social security numbers to bank details, driver's license numbers and personal addresses. As a result, the focus of security measures for the ultra-wealthy has shifted from bodyguards and sophisticated alarms towards risk management to protect their assets, their image and their "legacy." The super-wealthy will typically have their own computer security service and also call on external companies for regular evaluation of their devices because a large number of hacks are detected by third parties, according to observers. Mark Zuckerberg, Facebook's CEO, spent $7.3 million on his security in 2017, up from $4.2 million in 2015 -- astronomical sums that the social network deemed justified due to his prominence. Last July, Facebook said it would give him $10 million more per year to strengthen his security. "Protection from colluding insiders working from positions of trust; or, against an intelligence agency trying to attack from the outside is going to require a large investment, a lot of experience, and vigilance," said Coleman. Entourage For Johnson, "no one's data is that well protected. Think of all the third-party platforms that have your social security number, or banking information, or that hold your personal pictures." Just days before Bezos disclosed that a tabloid had obtained his intimate selfies, a fellow billionaire -- Joe Ricketts, the founder of the broker TD Ameritrade Holding Corporation -- was ensnared in scandal following the release of private messages. The American news site Splinter published a series of racist emails from Ricketts, without saying how it obtained them. The exchanges, some of which date back to 2009, show the 77-year-old sharing and apparently endorsing racist jokes and conspiracy theories. He has since apologized. Back in August 2015, a cyber attack on the Ashley-Madison extramarital dating site revealed that American billionaire Dan Loeb had an account there. Bezos did not say how the National Enquirer obtained his pictures, but experts say the most common method is for a hacker to usurp the identity of a member of a person's entourage. "The adversary would send a message to the target asking them to click on a link in a text or email," Coleman explained. "The sender's real identity is hidden but the target trusts the message from their 'friend' and clicks the link unlocking malware or another type of attack on that device."

Bezos case exposes billionaires' vulnerability to hackers

It took rickshaw driver Mohammad Rasheed a year to save 300 rupees to buy his daughter a bike, so when he found three billion rupees ($22.5 million) had passed through an unused bank account in his name, he was stunned ... and scared.

"I started sweating and shivering," said the 43-year-old &nbsp;-- just the latest victim of a money laundering scheme that Pakistan's new prime minister, Imran Khan, has vowed to crush.

When he got a call from the Federal Investigation Agency, Rasheed's first inclination was to go into hiding, but friends and family members finally convinced him to cooperate with officials. &nbsp;

His case mirrors dozens of similar stories in recent weeks that have filled newspapers in Pakistan and riled a populace long accustomed to extravagant tales of corruption and theft.

The incidents follow a similar arc -- bank accounts in poor residents' names are flooded with cash, then suddenly emptied in a laundering scheme that has likely seen hundreds of millions of dollars moved out of the country.

Rasheed's name was eventually cleared, but his anxiety remained.

"I stopped driving my rented rickshaw on the roads because of the fear that some other investigating agencies might pick me up," he said.&nbsp;

"My wife fell sick because of the tension."

Only weeks before the fiasco he had finally been able to buy a 300-rupee bike with worn tyres for his daughter -- the fruit of a year's careful saving.

'Stolen money'&nbsp;

The revelation of the laundering frenzy comes as the newly elected Khan has vowed to squash rampant corruption and recover billions siphoned from the country as his government scrambles to shore up Pakistan's deteriorating finances.

"This is your stolen money," said the former cricketer during a televised address to the nation Wednesday.&nbsp;

"It was stolen on public contracts... and transferred into these accounts, then laundered abroad.

"I will spare no corrupt man in this country," he promised.

But for victims like Mohammad Qadir the damage has already been done. &nbsp;

"I have never even seen a bank from the inside," said the 52-year-old ice cream vendor.

Transactions were nevertheless made in his name for 2.25 billion rupees.

Since news of the incident spread Qadir says he is regularly mocked by his neighbours and also fears being kidnapped by criminal elements who believe he has billions of rupees to spare for hefty ransoms.

"He is a penniless billionaire," one of Qadir's acquaintances laughed while driving past his ice cream cart in the Karachi slum of Orangi town.

"People make fun of me, but I ended up with nothing at all from this situation," said Qadir. "It is such a tragedy."

Sarwat Zehra, a 56-year-old official, says she has suffered from high-blood pressure after being handed a bill for 13 million rupees in back taxes.

"I was told that a company had illegally passed 14 or 15 billion rupees through my account," she said.

Pakistan's poor have long been used as fronts for the elite to dodge taxes and hide assets.

But the scale of the bank account scheme is unprecedented, with authorities pointing the finger at some of Karachi's wealthiest power brokers including figures with links to former president Asif Zardari.

'Blacklist'&nbsp;

In September, Pakistan's Supreme Court established a commission&nbsp;to investigate the scourge, finding that at least 400 million dollars had passed through "thousands of false accounts", using the names of impoverished people.

Some 600 companies and individuals "are associated with the scandal", the commission concluded.

It is all the more embarrassing for Khan as his administration scrambles to secure billions of dollars in foreign financial assistance, while also entering talks with the International Monetary Fund for a potential bailout amid a widening balance of payment crisis. &nbsp;

The brazen laundering schemes come as Pakistan was again placed on a watchlist this year by the Financial Action Task Force (FATF) -- an anti money-laundering monitor based in Paris -- for failing to do enough to combat terror financing.

It took rickshaw driver Mohammad Rasheed a year to save 300 rupees to buy his daughter a bike, so when he found three billion rupees ($22.5 million) had passed through an unused bank account in his name, he was stunned .

It took rickshaw driver Mohammad Rasheed a year to save 300 rupees to buy his daughter a bike, so when he found three billion rupees ($22.5 million) had passed through an unused bank account in his name, he was stunned ... and scared. "I started sweating and shivering," said the 43-year-old -- just the latest victim of a money laundering scheme that Pakistan's new prime minister, Imran Khan, has vowed to crush. When he got a call from the Federal Investigation Agency, Rasheed's first inclination was to go into hiding, but friends and family members finally convinced him to cooperate with officials. His case mirrors dozens of similar stories in recent weeks that have filled newspapers in Pakistan and riled a populace long accustomed to extravagant tales of corruption and theft. The incidents follow a similar arc -- bank accounts in poor residents' names are flooded with cash, then suddenly emptied in a laundering scheme that has likely seen hundreds of millions of dollars moved out of the country. Rasheed's name was eventually cleared, but his anxiety remained. "I stopped driving my rented rickshaw on the roads because of the fear that some other investigating agencies might pick me up," he said. "My wife fell sick because of the tension." Only weeks before the fiasco he had finally been able to buy a 300-rupee bike with worn tyres for his daughter -- the fruit of a year's careful saving. 'Stolen money' The revelation of the laundering frenzy comes as the newly elected Khan has vowed to squash rampant corruption and recover billions siphoned from the country as his government scrambles to shore up Pakistan's deteriorating finances. "This is your stolen money," said the former cricketer during a televised address to the nation Wednesday. "It was stolen on public contracts... and transferred into these accounts, then laundered abroad. "I will spare no corrupt man in this country," he promised. But for victims like Mohammad Qadir the damage has already been done. "I have never even seen a bank from the inside," said the 52-year-old ice cream vendor. Transactions were nevertheless made in his name for 2.25 billion rupees. Since news of the incident spread Qadir says he is regularly mocked by his neighbours and also fears being kidnapped by criminal elements who believe he has billions of rupees to spare for hefty ransoms. "He is a penniless billionaire," one of Qadir's acquaintances laughed while driving past his ice cream cart in the Karachi slum of Orangi town. "People make fun of me, but I ended up with nothing at all from this situation," said Qadir. "It is such a tragedy." Sarwat Zehra, a 56-year-old official, says she has suffered from high-blood pressure after being handed a bill for 13 million rupees in back taxes. "I was told that a company had illegally passed 14 or 15 billion rupees through my account," she said. Pakistan's poor have long been used as fronts for the elite to dodge taxes and hide assets. But the scale of the bank account scheme is unprecedented, with authorities pointing the finger at some of Karachi's wealthiest power brokers including figures with links to former president Asif Zardari. 'Blacklist' In September, Pakistan's Supreme Court established a commission to investigate the scourge, finding that at least 400 million dollars had passed through "thousands of false accounts", using the names of impoverished people. Some 600 companies and individuals "are associated with the scandal", the commission concluded. It is all the more embarrassing for Khan as his administration scrambles to secure billions of dollars in foreign financial assistance, while also entering talks with the International Monetary Fund for a potential bailout amid a widening balance of payment crisis. The brazen laundering schemes come as Pakistan was again placed on a watchlist this year by the Financial Action Task Force (FATF) -- an anti money-laundering monitor based in Paris -- for failing to do enough to combat terror financing.

Pakistan's 'penniless billionaires' expose money laundering frenzy

US President Donald Trump's net worth has flatlined at USD 3.1 billion, but he has slid down a Forbes ranking of billionaires as the magazine believes his White House stint is harming the Trump brand.

Trump's ranking dropped to number 259 on the list of Forbes's wealthiest 400 billionaires released Wednesday, down from spot number 248 in 2017.

In 2015, the year that Trump announced his then improbable run for the presidency, Forbes valued his net worth at $ 4.5 billion.

Forbes attributes his declining wealth to deeper reporting about his assets, decline in brick-and-mortar retail, slowdown in real-estate, particularly in the luxury sector, and how being president affects the brand.

While he built much of his fortune on lending his name to projects he does not always own, a Forbes investigation say the strategy is backfiring, with his name no longer synonymous with luxury but divisiveness, driving away business partners and potential apartment buyers.

Nevertheless, the value of property that he does own, including his Trump Tower penthouse, his personal private jet and Mar-a-Lago estate in Florida, dubbed the Winter White House, has gained in value, Forbes believes.

Before taking office, Trump placed his business interests in a trust managed by his adult sons, Don Junior and Eric, and veteran Trump Organization executive Allen Weisselberg.

He refused multiple calls to divest fully, leading to ongoing accusations of conflict of interest.

Forbes calculated that if Trump had liquidated, paid capital gains tax on his fortune and created a blind trust to invest everything in the booming stock market, he would be would now be USD 500 million richer.

Amazon's Jeff Bezos, whose fortune jumped USD 78.5 billion in one year, tops the Forbes list this year, with a net worth of USD 160 billion.

Microsoft co-founder Bill Gates, who held the number one spot for 24 consecutive years, is ranked number two at USD 97 billion.

Forbes said the 400 on the list have a record-breaking, combined net worth of USD 2.9 trillion, up from USD 2.7 trillion in 2017.

Entrance to the exclusive club cost an all-time high of USD 2.1 billion and 204 Americans with 10-figure fortunes fell short.

US President Donald Trump's net worth has flatlined at USD 3.1 billion, but he has slid down a Forbes ranking of billionaires as the magazine believes his White House stint is harming the Trump brand.

US President Donald Trump's net worth has flatlined at USD 3.1 billion, but he has slid down a Forbes ranking of billionaires as the magazine believes his White House stint is harming the Trump brand. Trump's ranking dropped to number 259 on the list of Forbes's wealthiest 400 billionaires released Wednesday, down from spot number 248 in 2017. In 2015, the year that Trump announced his then improbable run for the presidency, Forbes valued his net worth at $ 4.5 billion. Forbes attributes his declining wealth to deeper reporting about his assets, decline in brick-and-mortar retail, slowdown in real-estate, particularly in the luxury sector, and how being president affects the brand. While he built much of his fortune on lending his name to projects he does not always own, a Forbes investigation say the strategy is backfiring, with his name no longer synonymous with luxury but divisiveness, driving away business partners and potential apartment buyers. Nevertheless, the value of property that he does own, including his Trump Tower penthouse, his personal private jet and Mar-a-Lago estate in Florida, dubbed the Winter White House, has gained in value, Forbes believes. Before taking office, Trump placed his business interests in a trust managed by his adult sons, Don Junior and Eric, and veteran Trump Organization executive Allen Weisselberg. He refused multiple calls to divest fully, leading to ongoing accusations of conflict of interest. Forbes calculated that if Trump had liquidated, paid capital gains tax on his fortune and created a blind trust to invest everything in the booming stock market, he would be would now be USD 500 million richer. Amazon's Jeff Bezos, whose fortune jumped USD 78.5 billion in one year, tops the Forbes list this year, with a net worth of USD 160 billion. Microsoft co-founder Bill Gates, who held the number one spot for 24 consecutive years, is ranked number two at USD 97 billion. Forbes said the 400 on the list have a record-breaking, combined net worth of USD 2.9 trillion, up from USD 2.7 trillion in 2017. Entrance to the exclusive club cost an all-time high of USD 2.1 billion and 204 Americans with 10-figure fortunes fell short.

Trump's net worth at over $3.1 billion, slips 11 points in rich list: Forbes

According to a report published by New World Wealth, India stands as the sixth wealthiest country in the world with a total wealth of whopping $8,230 billion.&nbsp;

The United States of America tops the list with $64,584 billion followed by China with &nbsp;$24,803 billion and Japan at $19,522 billion standing third. Next comes the United Kingdom at the 4th slot at $9,919 billion followed by Germany with $9,660 billion in fifth place.&nbsp;

Interestingly, countries like France, Canada, Australia, and Italy came after India at 7th, 8th, 9th and 10th slot respectively.&nbsp;

The report took into account the amount of private wealth held by all the individuals of a country/city including their assets (property, cash, equities, business interests) excluding all liabilities. Government funds were excluded.

 
India was also touted as the best-performing global wealth market in 2017. According to official estimates, India&#39;s total wealth swelled from $6,584 billion in 2016 to $8,230 billion in 2017, registering a growth of 25 per cent.&nbsp;

Over the past decade (2007-2017) India&#39;s total wealth increased from $3,165 billion in 2007 to $8,230 billion in 2017 -- by close to 160 per cent -- in the last decade, the report noted.&nbsp;

 
China&#39;s wealth, on the other hand, saw an increase of 22 per cent and global wealth rose by 12 per cent (from $192 trillion at the end of 2016 to $215 trillion at the end of 2017).&nbsp;

India also ranked 9th with 50,47,400 HNWIs (high-net-worth individuals) with the US topping the list again. India is also home to 20,730 multi-millionaires, 7th largest in the world. &nbsp;

India was recently named third on the list of countries with the highest number of billionaires with 119 such individuals after the US and China.

(With inputs from PTI)&nbsp;

Countries like France, Canada, Australia, and Italy came after India at 7th, 8th, 9th, and 10th slot respectively.

According to a report published by New World Wealth, India stands as the sixth wealthiest country in the world with a total wealth of whopping $8,230 billion. The United States of America tops the list with $64,584 billion followed by China with $24,803 billion and Japan at $19,522 billion standing third. Next comes the United Kingdom at the 4th slot at $9,919 billion followed by Germany with $9,660 billion in fifth place. Interestingly, countries like France, Canada, Australia, and Italy came after India at 7th, 8th, 9th and 10th slot respectively. The report took into account the amount of private wealth held by all the individuals of a country/city including their assets (property, cash, equities, business interests) excluding all liabilities. Government funds were excluded. India was also touted as the best-performing global wealth market in 2017. According to official estimates, India's total wealth swelled from $6,584 billion in 2016 to $8,230 billion in 2017, registering a growth of 25 per cent. Over the past decade (2007-2017) India's total wealth increased from $3,165 billion in 2007 to $8,230 billion in 2017 -- by close to 160 per cent -- in the last decade, the report noted. China's wealth, on the other hand, saw an increase of 22 per cent and global wealth rose by 12 per cent (from $192 trillion at the end of 2016 to $215 trillion at the end of 2017). India also ranked 9th with 50,47,400 HNWIs (high-net-worth individuals) with the US topping the list again. India is also home to 20,730 multi-millionaires, 7th largest in the world. India was recently named third on the list of countries with the highest number of billionaires with 119 such individuals after the US and China. (With inputs from PTI)

India is 6th wealthiest country in world, 3rd in maximum number of billionaires: Report

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