Business World

Sunday 24 September 2017

Bill Gates tops latest billionaires list as rich get richer

Bill Gates, chairman of Microsoft. (Photo by Scott Olson/Getty Images)
Bill Gates, chairman of Microsoft. (Photo by Scott Olson/Getty Images)

The richest people on the planet got even richer in 2013, adding $524bn to their collective net worth, according to the Bloomberg Billionaires Index, a daily ranking of the world’s 300 wealthiest individuals.

The aggregate net worth of the world’s top billionaires stood at $3.7 trillion at the market close on Dec. 31, according to the ranking. The biggest gains came in the technology industry, which soared 28pc during the year. Of the 300 people who appeared on the final ranking of 2013, only 70 registered a net loss for the 12-month period.

“The rich will keep getting richer in 2014,” John Catsimatidis, the billionaire founder of real estate and energy conglomerate Red Apple Group Inc., said in a telephone interview from his New York office. “Interest rates will remain low, equity markets will keep rising, and the economy will grow at less than 2 percent.”

Bill Gates, the founder and chairman of Redmond, Washington-based Microsoft Corp., was the year’s biggest gainer. The 58-year-old tycoon’s fortune increased by $15.8bn to $78.5bn, according to the index, as shares of Microsoft, the world’s largest software maker, rose 40pc.

Gates recaptured the title of world’s richest person on May 16 from Mexican investor Carlos Slim. Gates’s fortune has also benefited from a rally in stock holdings that include the Canadian National Railway Co. and sanitizing-products maker Ecolab Inc., which rose 34pc and 45pc respectively.

Bloomberg

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