The rich will keep getting richer: The world’s 300 richest people are more than £300 billion better off than around this time last year, and Bill Gates is back on top
The rich will get richer: The 300 richest people in the world are more than $500 billion better off than last year at this time, and Bill Gates is back on top
- Top 300 Billionaires Add $524 Billion to Their Wealth in 2013
- The total wealth of the world’s richest people was $3.7 trillion by the end of the year
- Biggest win for tech bosses, whose wealth is up 28 percent
- Bill Gates’ wealth increased by $15.8 billion to $78.5 billion
Back on top: Microsoft boss Bill Gates tops the list of the world’s rich again as he added more than $15 billion to his total net worth
The richest people in the world got even richer in 2013, adding $524 billion to their collective wealth, according to the Bloomberg Billionaires Index, a daily ranking of the 300 richest individuals in the world.
The total worth of the world’s top billionaires was $3.7 trillion at the market’s close on Dec. 31, according to the ranking.
Bill Gates, the founder of Microsoft, was the biggest winner of the year, as he regained the title of richest man in the world, beating Mexican Carlos Slim for first place.
The 58-year-old chairman of Microsoft’s fortunes rose by $15.8 billion to $78.5 billion.
The news came when data showed that shares of Microsoft, the world’s largest software maker, rose 40 percent.
Most of Mr. Gates’ assets are held in Cascade Investment LLC.
Through these investments, he owns interests in about three dozen publicly traded companies and several close-knit companies.
Elite: Sheldon Adelson’s (left) Las Vegas Sands Corp. had revenues of $13.2 billion in the 12 months ended September 30, while Amancio Ortega (right) retained the title of Europe’s richest person
Business leader: 58-year-old Gates’ net worth to $78.5 billion, according to Bloomberg index, as shares of Microsoft, the world’s largest software maker, are up 40 percent
Investment: Less than a quarter of Bill Gates’ wealth comes from Microsoft
Mr Gates’ assets have been boosted by a rally in share ownership including the Canadian National Railway Co. and disinfectant manufacturer Ecolab Inc., up 34 percent and 45 percent, respectively.
Through investments in these companies, Gates has interests in Four Seasons Hotels and Resorts and Corbis Corp., a photo archive company.
John Pinette, a Gates spokesman, declined to comment.
The most notable numbers came from the technology sector, which grew 28 percent over the year.
Only 70 of the 300 made a net loss over the 12-month period.
John Catsimatidis, the billionaire founder of real estate and energy conglomerate Red Apple Group Inc, said: ‘The rich are getting richer in 2014.
“Interest rates remain low, stock markets continue to rise and the economy is growing at less than 2 percent.”
Microsoft accounts for less than 25 percent of Gates’ fortune.
The software mogul has donated $28 billion to the Bill & Melinda Gates Foundation.
A surge in global equities in 2013 meant last year was the best annual gain since 2009. The MSCI World Index rose 24 percent during the year, closing at 1661.07 on December 31.
The Standard and Poor’s 500 index rose 30 percent to close at 1,848.36, its best annual gain since 1997.
BLOOMBERG’S TOP TEN RICHEST PEOPLE (NET worth)
1. Bill Gates – $78.5B
2. Carlos Slim – $72B
3. Amancio Ortega – $65.2B
4. Warren Buffett – $60.3 Billion
5. Ingvar Kamprad – $52.8 Billion
6. Charles Koch – $50B
7. David Koch – $50 Billion
8. Larry Ellison $43.3 Billion
9. Christy Walton – $39.1B
10. Sheldon Adelson – $37.5 Billion
The Stoxx Europe 600 gained 17 percent and closed at 328.26. Companies in the S&P 500 are worth $3.7 trillion more today than 12 months ago, after a year in which Federal Reserve Chairman Ben S. Bernanke signaled the curtailment of economic stimulus.
Born at the nadir of the credit crunch, the bull market is entering its sixth year, fueled by near-zero interest rates and the belief among investors that it is finally safe to own stocks again.
Las Vegas Sands Corp. founder Sheldon Adelson was the second biggest winner in 2013, adding $14.4 billion to his net worth as the company’s stock rose 71 percent.
Revenues from the six gambling operators of China’s only legal casinos rose 18.6 percent last year to 360.75 billion patacas ($45.2 billion).
Las Vegas Sands had revenue of $13.2 billion for the 12 months ended September 30.
Slim lost $1.4 billion in 2013. His America Movil SAB, America’s largest cell phone operator, fell 12 percent in the first three months of the year after Mexico’s Congress passed a bill to wipe out the billionaire’s market dominance. to do.
The company ended the year up 2 percent after a planned expansion into Europe was tamed, reassuring investors suspicious of the billions of dollars in investment the strategy would require.
Billionaire: Sheldon Adelson, the founder of Las Vegas Sands Corp., was the second-largest profit in 2013, adding $14.4 billion to his net worth
Industry growth: Gaming revenues of the six operators of China’s only legal casinos rose 18.6 percent last year to 360.75 billion patacas ($45.2 billion)
“Billionaires are asking what to do with their money in 2014,” said Mark Haefele, Global Head of Investment for UBS AG’s asset management unit.
“Central banks will remain supportive, so equities are likely to continue rising throughout the year.”
Bloomberg News revealed 109 new billionaires in 2013. None of them have ever appeared on an international wealth ranking.
For example, Lynsi Torres is the youngest female billionaire in the US
The 31-year-old In-N-Out Burger heiress has inherited a family chain that has grown from a single drive-through hamburger stand founded in 1948 in Baldwin Park, California, to a fast food empire.
The company is now valued at over $1 billion.
One negative story emerging from these numbers is Eike Batista, whose net worth fell by more than $12 billion over the year.
OGX Petroleo & Gas Participacoes SA, the oil company that turned him into Brazil’s richest man, went bankrupt in October.
Philanthropist: Gates Donated $28 Billion to the Bill & Melinda Gates Foundation
In March 2012, Batista was the eighth richest person in the world. He now has negative equity.
Amancio Ortega retains the title of richest person in Europe. Inditex SA, the world’s largest clothing retailer, rose 14 percent over the year.
The billionaire is said to have recently bought an office building in London’s West End for £410 million.
Sergey Galitskiy, founder of OAO Magnit, Russia’s largest food retailer, added $5.3 billion to his net worth in 2013, more than any other Russian billionaire.
The 46-year-old has a net worth of $13.8 billion. Russia’s richest person is Alisher Usmanov, 60, who has a net worth of $20.2 billion.
Prince Alwaleed bin Talal of Saudi Arabia remains the richest person in the Middle East, closing the year with a net worth of $32.4 billion. That’s an increase of $3.7 billion for the year.
Aliko Dangote is the richest person in Africa. The Dangote Group founder raised $9.2 billion over the year, making him the 30th richest person in the world.