Forbes releases billionaires list, few Canadians make it

It’s that time of the year: Forbes has released its list of the world’s richest people.

Roughly 1,800 billionaires made this year’s list, with a total net worth of $6.48 trillion, down from $7.05 trillion last year.

The list saw 221 individuals drop out due to their net worth plunging below the $1 billion threshold, but there were also 198 newcomers.

In 2016, the richest 500 individuals are worth a whopping $4.16 trillion dollars U.S. In other words, 28 per cent of the richest people in the world are responsible for 64 per cent of all billionaires’ wealth.

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Still at the top of the list is Microsoft founder Bill Gates with a net worth of $75 billion.

Following Gates is Amancio Ortega, who rose up the list with a net worth of $67 billion gained from his fashion chain Zara.

But Facebook CEO Mark Zuckerberg is the biggest gainer on the list, moving up 10 spots from last year to claim the ranking as the world’s sixth richest person.

Only a few notable Canadians have made the list this year.

David Thomson, chairman of Thomson Reuters, sits at number 25, with a net worth of $23.5 billion.

Galen Weston was the next Canadian on the list in 116th place, up from 131st last year. Weston owns Selfridges Group, Holt Renfrew and Ireland’s Brown Thomas.

A Canadian who slipped off the list this year is Valeant Pharmaceuticals executive Michael Pearson.

The CEO the Quebec-based company faces a U.S. government investigation in connection with allegations of buying pharmaceutical companies then hiking drug prices.

Here’s the full World’s Billionaire’s List.