US President Donald Trump moved up 51 spots on Forbes magazine’s list of the world’s billionaires, the magazine said Tuesday, noting that he only moved up because the fortunes of others declined.

The estimated size of the president’s fortune, 3.1 billion dollars, remained the same, Forbes said as it released its annual ranking of the world’s richest people for 2019. Trump is now ranked 715th.

According to Forbes, 994 billionaires, a record number, have lost money since the 2018 list was published. There are now 2,153 billionaires in the world – 55 fewer than in 2018.

The top three on the list remain unchanged. The top spot went to Amazon chief executive Jeff Bezos with an estimated 131 billion dollars, while Microsoft co-founder Bill Gates took second place with 96 billion dollars and investment guru Warren Buffett took third with 82 billion dollars.

A noted newcomer to the list is Kylie Jenner, a 21-year-old reality TV star and whose makeup line helped her become the youngest on the list, ranking toward the bottom at number 2,057.

The total combined net worth of this year’s billionaires declined to 8.7 trillion dollars, down from 9.1 trillion dollars in 2018. It represents the first decrease in billionaires and their combined wealth since 2016, and only the second decrease in the past decade, Forbes said.

By country, the US leads other countries with the most billionaires (607), followed by China (324), Germany (114), India (106) and Russia (98).