Bill Gates is best known as the co-founder of Microsoft although he is also a world renowned philanthropist. Today’s publication of the Forbes rich list sees the man himself retain top spot for the fourth consecutive year. It is believed his personal wealth has increased from $75 billion in 2016 to a staggering $86 billion!
Other movers and shakers
Overall the number of billionaires has increased by a net 233 since the 2016 Forbes list was released. In a sign of the times, this is the largest annual jump in more than three decades with gainers outnumbering losers by more than 3 to 1. There does seem to be a particular emphasis on technology which would indicate a renewed appetite from investors – which was shown in the recent Snapchat IPO?
Warren Buffett
Warren Buffett will be disappointed at second spot with his personal wealth estimated at $75.6 billion. The life and times of Warren Buffett and his Berkshire Hathaway investment vehicle are well documented and it is no surprise to see him up there with the richest in the world. He will likely remain in the higher echelons of the billionaires list for some time to come as his investments continue to prosper.
Jeff Bezos
Jeff Bezos, the founder of Amazon, has moved up from number five on the list to number three with an estimated wealth of $72.8 billion. When you cast your mind back to the early days of Amazon he was heavily criticised by many so-called “experts” but Jeff Bezos’ focused mindset has certainly paid dividends in his later years. At just 53 years of age he is one of the younger members on the list.
Amancio Ortega
While Spanish billionaire Amancio Ortega may not be particularly well known to the youth of today, he is the man behind the Zara fashion label. You have to say that his hard work in the early days has certainly paid off creating a wealth of $71.3 billion which is a nice retirement fund when you are 80 years of age.
Mark Zuckerberg
It is no surprise to see 32-year-old Mark Zuckerberg in fifth place on the billionaires list with an estimated wealth of $56 billion. Like his compatriot Jeff Bezos, Mark Zuckerberg ignored the doubters in his early years and has gone on to make Facebook not only a household name but an extremely valuable company. He is the youngest on the list by some way therefore he will have more time to spend his ridiculous wealth!
Carlos Slim Helu
Number six on the list is South American entrepreneur Carlos Slim Helu who has a diverse portfolio but made his initial wealth in telecoms. Such was his power and influence across South America that specific laws were passed to reduce this although he is still worth a staggering $54.5 billion. If one person epitomises the first to market risk coming off this is the man.
The best of the rest
Larry Ellison is in seventh place with $52.2 billion and is best known as the co-founder of the Oracle software company. Koch Industries is the main focus of Charles Koch’s $48.3 billion fortune and at 81 years of age we can only hope he is enjoying it. Charles Koch is joined on the list at equal eighth, due to an equal share of Koch Industries, by David Koch ensuring that none of the family has bragging rights over each other. The often controversial yet extremely innovative Michael Bloomberg is a man who needs little in the way of introduction and his $47.5 billion wealth speaks for itself.