The World’s 400 Richest Just Got Richer In 2014Ink Well Mag January 7, 2015 0 COMMENTS
The world’s 400 richest billionaires just earned another $92 billion to their name in 2014. A report by World Socialist Web Site revealed that the combined net worth of these billionaires is even greater than the gross domestic product (GDP) of the fourth largest economy in the world, Germany. From $240 million, the average net worth of the billionaires skyrocketed to $10.25 billion.
The richest people on Earth are getting richer regardless of the declining energy prices and geopolitical turmoil caused by Russian President Vladimir Putin. According to the Bloomberg Billionaires Index, the net worth of the 400 billionaires as of December 29, 2014 is at $4.1 trillion.
Global stocks increased in 2014, as the MSCI World Index advances by 4.3% (1,731.71). The Standard and Poor’s 500 Index also increased by 13% (2,090.57).
The Biggest Winner of 2014
The biggest winner of the year is Jack Ma from China, co-founder of the Alibaba Group Holding ltd, (BABA), which is the largest e-commerce company in the mainland. Bloomberg reports that Ma has a personal fortune of $28.7 billion. As 2014 ended, he added another $25.1 billion to his wealth. This is due to the 56% shares surge since the September initial public offering.
The former English teacher started Alibaba Group in his apartment in 1999, which is now based in Hangzhou. As business goes well, Ma briefly passed Asia’s richest person Li Ka-shing. Li said through his spokesperson in Hong Kong, “I am nothing but happy when young people from China do well.”
Other Big Winners of 2014
Mark Zuckerberg and Warren Buffett were also announced as big winners in 2014.
Facebook founder Mark Zuckerberg added $10.6 billion to his name as the largest social networking company’s mobile advertising initiatives and marketing expansions increased. Buying popular photo-sharing app Instagram in 2012 also paid off. A Citigroup Inc. analyst noted that its worth is about $35 billion at present.
Buffet, on the other hand, increased his net worth by $13.7 billion thanks to the businesses he invested in over the past 50 years. He ranked second next to Jack Ma in the YTD Change in Wealth list by Bloomberg Billionaires Index. Despite losing $1.5 billion after the disappointing earnings of IBM and Coca Cola in late 2014, according to NBC News, it seems that the businesses he bought still produced good profits.
Microsoft founder Bill Gates remains as the richest man in the world with a personal fortune of $87.6 billion and earnings of $9.1 billion in 2014.