Amazon’s CEO, Jeff Bezos, has secured the top spot on Forbes’ list of the wealthiest Americans for the third consecutive year. Meanwhile, U.S. President Donald Trump’s ranking has slipped due to the economic fallout from the coronavirus pandemic, affecting his office buildings, hotels, and resorts, as per the magazine’s latest report.
Despite the pandemic’s severe impact on the economy, the total wealth of the Forbes 400 list has surged to a record-breaking $3.2 trillion. The richest Americans have continued to thrive, even as more than 1.8 million Americans have lost their jobs.
Eric Yuan, the CEO of Zoom Video Communications, has joined the list as one of 18 newcomers, boasting a net worth of $11 billion. Zoom has become an essential tool in the era of remote work.
Trump’s ranking has dropped from last year’s 275th place to 352nd, reflecting a decline in his net worth from $3.1 billion to $2.5 billion. The pandemic has negatively impacted his businesses, including office buildings, hotels, and resorts, all of which are part of the Trump Organization.
It’s worth noting that Trump has consistently refused to disclose his tax records and has been engaged in a legal battle with Manhattan District Attorney Cyrus Vance, who has subpoenaed Trump for eight years’ worth of personal and corporate tax returns.
Kerry Dolan, Assistant Managing Editor of Wealth at Forbes, emphasized the list’s significance in understanding the wealthiest individuals in the country and their influence. She underlined that it serves as a valuable tool for society to track the major players in prominent companies and how they manage their wealth.