So far this year, the fortune of the world’s 500 richest people has increased by $1 trillion ($745 million) as the value of global stock markets has soared and is expected to hit a record high in 2017.
The fortunes of billions of poor people around the world have stagnated or fallen, and the fortunes of the super-rich have soared. The gap between the very rich and the rest has widened to its widest in a century, with advisers to the super-rich warning them to “fight back” from the oppressed majority.
So far this year, the fortune of the world’s 500 richest people has risen 23 percent to $5.3 trillion, according to the bloomberg billionaires index. This growth is largely the result of a stock market boom. So far this year, the msci world index and the U.S. standard & poor’s 500-stock index are up nearly 20%. The ftse 100 rose more than 6 per cent to a new high of 7,620.7 on Wednesday.
Jeff bezos, the founder of amazon, is the richest man in the world. His wealth has increased by $34.2 billion so far this year, to $99.6 billion. On one day in October, bezos’s wealth rose by $10.3 billion, while amazon’s profits were well above analysts’ expectations and its shares soared.
Mr Bezos, 53, founded amazon in a Seattle garage in 1994, making up 16% of the retailer. He also owns space exploration companies Blue Origin and the Washington post, which he bought for $250m in 2013.
The amazon founder is worth $8.3bn more than Microsoft founder Bill Gates, the world’s second richest man. In August, the Gates to the bill and Melinda Gates Foundation (Bill&Melinda Gates Foundation) donated $4.6 billion worth of Microsoft stock, this is he and his wife to establish charity, aimed at improving health care and reduce poverty around the world.
Bill and Melinda gates has donated $35 billion since 1994. They donated $16 billion worth of Microsoft shares in 1999 and $5.1 billion later. The gates foundation has grown into the world’s largest private charity.
In 2010, Bill Gates and warren buffett, the world’s third richest man $85 billion) created the “commitment”, promise at least half of its contribution to the wealth to charity, and called for other billionaires to join. So far, including Mark Zuckerberg (Mark Zuckerberg), Michael Bloomberg (Michael Bloomberg) and Lord ashcroft (Lord ashcroft), more than 170 people have signed the richest person in the world. Bezos is not a signatory.
In June, Mr. Bezos offered advice on how to respond to philanthropy by launching a ‘philanthropic strategy.’ He later quipped about his 400,000 followers, saying he would have more followers.
Overall, the world’s five richest people-bezos, gates, buffett, zala’s boss, amancio ortega, and Facebook’s zuckerberg -have $425 billion in assets. That is about one-sixth of Britain’s GDP.
The world’s super-rich have had the highest concentration of wealth since the gilded age of the United States in the early 20th century, and families such as Carnegie, Rockefeller and Vanderbilt control vast wealth. According to the ubs/pricewaterhousecoopers report, there are now 1,542 us billionaires, compared with 145 whose wealth soared to 90 per cent last year.
Josef Stadler, head of global ultra-high net worth at Ubs, said his billionaire clients feared a “rebound” from the widening wealth gap.
Credit Suisse (Credit Suisse), according to a report of the world’s richest 1% of the population accounts for the proportion of the total global wealth, from the financial crisis of 2008 peak of 42.5% in 2017 to 50.1%, or $140 trillion.
Credit Suisse (Credit Suisse) global wealth report said: “since the financial crisis, the top 1% of the share has been on the rise, in 2013 to 2000 levels, and every year thereafter reached new heights. “Global wealth inequality must be high during the post-crisis period,” the bank said.
The increase in wealth created 2.3 million new millionaires last year, or 36 million. “The number of millionaires recovered quickly after the financial crisis in 2008 and is now three times as high as it was in 2000,” credit suisse said.
These millionaires account for 0.7% of the world’s adult population and control 46% of the world’s total wealth, which now stands at $280 trillion. On the other hand, the world’s 3.5 billion poorest adults have less than $10,000 (7,600 pounds) in assets. They account for only 2.7 per cent of the world’s working-age population.