US President Donald Trump has fallen 222 places on the Forbes annual Rich List, after his estimated worth of $3.5bn (£2.5bn) fell to US$3.1bn.

The magazine said the drop was partially due to a fall in the value of central New York property values and falling revenues at his golf courses.

Top of the list is the founder and boss of online giant Amazon, Jeff Bezos.

Mr Bezos’ fortune has leapt to $112bn from an estimated US$39.2bn last year.

The improvement in Mr Bezos’ fortune is the biggest on record.

His rise knocks Microsoft founder Bill Gates, whose estimated wealth is US$90bn this year, up from $86bn, into second place. Mr Gates has headed the list for 18 of the past 24 years.

A record 2,208 billionaires feature on the magazine’s 32nd annual ranking of the world’s billionaires.

US investment superstar Warren Buffett, who is worth US$84bn, is third. His fortune is up from US$75.6bn a year earlier.

The richest person in Europe and fourth on the list is the boss of luxury goods firm LVMH, Bernard Arnault, who has a fortune of US$72bn.