Reuters
Published Sep 08, 2020 07:07AM ET
Updated Sep 08, 2020 08:46AM ET
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.
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.