According to a Bloomberg analysis, the world’s richest people have seen their collective fortune grow by $1 trillion this year alone, marking a fourfold increase from last year’s gains. The big financial boost is mainly due to a jump in the value of stock markets worldwide, analysts explained.
The big increase in the combined wealth of the world’s ultra-rich comes at a time when more and more people are living below or slightly above the poverty line. Most of the world has seen their income stand still or decline. Also, the income gap has been getting wider over the last 100 years, and experts warn of a strike-back from the low-earners.
The Bloomberg billionaires index shows that the planet’s wealthiest 500 persons have seen their fortunes jump 23 percent over the last 12 months. Their combined wealth currently stands at $5.3 trillion.
The big gains are mainly due to a booming stock market as the US Standard & Poor’s 500 and other markers have skyrocketed more than 20 percent this year alone.
The Top Three Richest People in the World
The wealthiest person in the world is e-commerce giant Amazon’s founder Jeff Bezos with a net worth of $99.6 billion. On a single day in October, his wealth jumped $10.3 billion when the company’s shares spiked. Bezos currently owns a 16% stake in the company. He also owns the Washington Post and the private space exploration firm Blue Origin.
The second richest man in the world is Microsoft founder Bill Gates, whose fortune is $8.3 billion smaller than Bezos’. This summer, Gates transferred $4.6 billion in Microsoft shares to his family charity, the Bill & Melinda Gates Foundation. The foundation has donated $35 billion to combat poverty and poor healthcare worldwide.
The planet’s third wealthiest individual, according to Bloomberg, is billionaire investor Warren Buffett with an $85bn wealth.
Image Source: Wikimedia
Latest posts by Anne-Marie Jackson (see all)
- SF Hospital Slaps New Parents with $19K Bill for Baby Treatment - Jul 16, 2020
- Furious Trump Blasts Harley-Davidson for Moving Production Overseas - Jul 16, 2020
- Warning! MRI Machines Could Poison You - Jul 16, 2020