The rich keep getting richer: the world’s 300 richest people are more than $500 billion better than this time last year, and Bill Gates is back on top
- The top 300 billionaires added $524 billion to their net worth in 2013
- The combined wealth of the world’s richest people was $3.7 trillion at the end of the year
- Biggest wins for tech bosses, whose wealth jumped 28 percent
- Bill Gates’ wealth increased by $15.8 billion to $78.5 billion
Back on Top: Microsoft CEO Bill Gates is back at the top of the list of the world’s richest having added over $15 billion to his total wealth
The world’s richest people got richer in 2013, adding $524 billion to their collective net worth, according to the Bloomberg Billionaires Index, a daily ranking of the world’s 300 richest people.
The combined value of the world’s top billionaires was $3.7 trillion as of the market close on December 31, according to the rankings.
Bill Gates, the Microsoft founder, was the year’s biggest winner as he reclaimed the title of world’s richest man, ousting Mexican Carlos Slim at the top.
The 58-year-old Microsoft chairman’s fortune increased by $15.8 billion to $78.5 billion.
The news came as numbers showed that shares of Microsoft, the world’s largest software maker, were up 40 percent.
Mr. Gates’ assets are primarily held by Cascade Investment LLC.
Through these investments, he owns interests in about three dozen public companies and several closely held companies.
Elite: Sheldon Adelson’s (left) Las Vegas Sands Corp had sales of $13.2 billion in the 12 months ended September 30, while Amancio Ortega (right) retained the title of Europe’s richest man
Business leader: Gates’ wealth, 58, rose to $78.5 billion, according to the Bloomberg index, while shares of Microsoft, the world’s largest software maker, rose 40 percent
Investments: Less than a quarter of Bill Gates’ wealth comes from Microsoft
Mr. Gates’ wealth has been boosted by a rally in stock holdings including Canadian National Railway Co. and disinfectant products maker Ecolab Inc., which are up 34 percent and 45 percent, respectively.
Investing in these companies means Gates holds interests in Four Seasons Hotels and Resorts and Corbis Corp., a photo archiving company.
John Pinette, a spokesman for Gates, declined to comment.
The most eye-catching numbers came from the technology sector, which rose 28 percent over the year.
Only 70 out of 300 reported a net loss for 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 will remain low, stock markets will continue to rise and the economy will grow at less than 2 percent.’
Microsoft accounts for less than 25 percent of Gates’ fortune.
The software tycoon 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 was up 24 percent for the year to close at 1,661.07 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 VALUE)
1. Bill Gates – $78.5 billion
2. Carlos Slim – $72 billion
3. Amancio Ortega – $65.2 billion
4. Warren Buffett – $60.3 billion
5. Ingvar Kamprad – $52.8 billion
6. Charles Koch – $50 billion
7. David Koch – $50 billion
8. Larry Ellison $43.3 billion
9. Christy Walton – $39.1 billion
10. Sheldon Adelson – $37.5 billion
The Stoxx Europe 600 gained 17 percent to close at 328.26. Companies in the S&P 500 are worth $3.7 trillion today compared to 12 months ago, after Federal Reserve Chairman Ben S. Bernanke signaled cuts in fiscal stimulus a year ago.
The bull market that was born in the depths of the credit crunch is entering its sixth year, fueled by near-zero interest rates and investors’ belief that it’s finally safe to own stocks again.
Las Vegas Sand Corp. Founder Sheldon Adelson was the second-biggest gainer in 2013, adding $14.4 billion to his net worth as the company’s shares surged 71 percent.
The revenue of the six gaming operators from China’s only legal casinos rose 18.6 percent to 360.75 billion patacas ($45.2 billion) last year.
Las Vegas Sands had revenue of $13.2 billion for the 12 months ended September 30.
Slim lost $1.4 billion in 2013. Its America Movil SAB, the largest wireless carrier in America, fell 12 percent in the first three months of the year after Mexico’s Congress passed legislation to quash the billionaire’s market dominance.
The company ended the year up 2 percent after a planned expansion into Europe was reined in, reassuring investors who were wary of the billions of dollars in investments the strategy would require.
Billionaire: Las Vegas Sands Corp. founder Sheldon Adelson was the second-biggest gainer in 2013, adding $14.4 billion to his net worth
Industry growth: Gaming revenue for the six operators of China’s only legal casinos grew 18.6 percent last year to 360.75 billion patacas ($45.2 billion).
“Billionaires are wondering what to do with their money in 2014,” said Mark Haefele, global head of investment at UBS AG’s wealth management unit.
‘Central banks will continue to be supportive, so stocks are likely to continue to rise as the year progresses.’
Bloomberg News revealed 109 new billionaires in 2013. None of them have never appeared in an international wealth ranking.
For example, Lynsi Torres is the youngest billionaire in the US
The 31-year-old In-N-Out Burger heiress has inherited a family chain that grew 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 more than $1 billion.
One negative story emerging from these numbers is Eike Batista, whose net worth plummeted by more than $12 billion during the year.
OGX Petroleo & Gas Participacoes SA, the oil company that made him the richest man in Brazil, went bankrupt in October.
Philanthropist: Gates has donated $28 billion to the Bill & Melinda Gates Foundation
As of March 2012, Batista was the eighth richest person in the world. He now has a negative net worth.
Amancio Ortega retains the title of richest man in Europe. Inditex SA, the world’s largest clothing retailer, rose 14 percent over the year.
The billionaire is said to have recently acquired an office building in London’s West End for £410million.
Sergey Galitskiy, founder of OAO Magnit, Russia’s largest grocery retailer, increased his net worth by $5.3 billion 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, with a net worth of $20.2 billion.
Prince Alwaleed bin Talal of Saudi Arabia is still the richest person in the Middle East, ending the year with a net worth of $32.4 billion. That’s up $3.7 billion for the year.
Aliko Dangote is Africa’s richest person. The founder of Dangote Group made $9.2 billion during the year, making him the 30th richest person in the world.
