Rich list shows even some billionaires have taken a hammering

Forbes’ annual world billionaires list is out, and for only the second time in a decade, their total wealth has decreased in the last year. Some 247 of the ultra-rich dropped out of the rankings, the most since 2009 at the height of the global financial crisis.

In total, the ultra-rich are worth $8.7 trillion, down $400 billion from 2018.

The richest person in the world? Jeff Bezos ($131 billion). The richest woman? L'Oréal heiress Francoise Bettencourt Meyers ($49.3 billion).

And what about No. 715, Donald Trump? His fortune stayed flat at $3.1 billion.

Australia’s top five were: Gina Rinehart (No. 75, $152b)), Harry Triguboff (No. 156, $9.2b, Anthony Pratt (No. 207, $7.1b), Mike Cannon-Brookes and Scott Farquhar (No. 215, $6.9b) and Frank Lowy (No. 244, $6.5b).

Asia-Pacific was hardest hit, with 60 fewer 10-figure fortunes. That dip was led by China, which has 49 fewer billionaires than a year ago. Europe, the Middle East and Africa also lost ground. The Americas, driven by a resurgent Brazil, and the US are the only two regions that have more billionaires than they did a year ago. There are now a record 607 in the US. That includes 14 of the world’s 20 richest.

A record number of billionaires were under 40. The wealthiest member of that group was Mark Zuckerberg ($62.3 billion).

There are 195 new billionaires, including the founders of Spotify, Canada Goose and Juul.

Thanks to Kylie Cosmetics and a new deal with beauty retailer Ulta, Kylie Jenner, 21, has an estimated $1 billion fortune. “It’s the power of social media,” she says. “I had such a strong reach before I was able to start anything.”

5 comments

 

These 8 men control half the wealth on earth, they hold the equivalent of the wealth of 3.6 billion people.

Bill Gates

Amancio Ortega (Spanish founder of Inditex)

Warren Buffett

Carlos Slim (Mexican businessman)

Jeff Bezos

Mark Zuckerberg

Larry Ellison

Michael Bloomberg

Six of the eight individuals are American, and four of the eight (half the list) come from the American tech community -- Gates, Bezos, Zuckerberg, and Ellison.Unless the growing gap between rich and poor is addressed, the world can  expect more political unrest, rage, and the kind of backlash many say led to events like Brexit and Trump's election.

 

 

Nonsense -  these men used their brains , took risk and had entreprenural skills to create millions of jobs and improve the wealth of hundreds of thousands, and generally make this world a better place for tens of millions  

They deserve the success and trappings that come with it. And they are generous with their wealth

 

Abe .Good post.

Think about this. If the world's richest 1%  paid an extra 0.5 % in taxes, there would be enough money to educate all 262 million children who are out of school according to U.N. calculations and provide enough health care to save the lives of 3.3 million people who are likely to die from lack of proper treatment for medical conditions. Just 1% of Jeff Bezos' fortune  would cover Ethiopia's entire annual health budget. That's health care for 105 million people. Let's tax the rich to help the poor.

 

Ray, ignore the old fart. The posters on the main forum are sick of him so he comes in here to get his troll fix.

I agree with your comments, but the problem is changing world view. The gap is no longer between the rich and the poor - it's between the ultra insanely rich and the rich.

See you later mate, at least I can still afford a decent red!

Watch loathesome come in with his troll s**t

Forbes list of Top Givers for 2017

Forbes.com The Greatest Givers: Meet America's Top Philanthropists  (50 Top Givers)

Warren Buffett $2.8 billion.

Bill & Melinda Gates.  The Bill & Melinda Gates Foundation is America's largest philanthropic foundationwith a $50.7 billion endowment.  This foundation has given $46 billion to global health, international development and US education. In 2017 it gave $532 million to polio causes, $399 million to vaccine delivery and $389 million to agricultural development.

Michael Bloomberg $5.5 billion to philanthropic causes.

Mark Zuckerberg and wife Priscilla Chan $400 million.  They have also pledged 99% of their Facebook shares.

 

Real shame Janelle, every thread is ruined by the TROLL LOTHARIO. Puts people off, maybe YLC can see the benefit of getting rid of lothario (aka raphael/olbaid/pete) 

has anyone taken a look in the main forum recently, see how how he insults the pensioners??

Nice to see all his crappy posts have been removed.

There's something wrong with those figures, or I am missing something?

 Copied from the post ...

The richest person in the world? Jeff Bezos ($131 billion). The richest woman? L'Oréal heiress Francoise Bettencourt Meyers ($49.3 billion).

Australia’s top five were: Gina Rinehart (No. 75, $152b))  ... etc

Not that it matters much I suppose, the real point is made by Abe and Ray, well said.  Couldn't agree more.

Thank you.

The growing gap between the insanely rich, who don't always cat generously to others in fact wouldn't be so rich if they did, will eventually reach a point where anarchy becomes possible. The history of the world shows that revolutions tend to follow massive gaps between rich and poor.

Have to agree with you Tom Tank two prime examples, the French Revolution and the Russian. 

I reckon I could be on that "Rich List". I have the best family in the world and money is nothing if you don't have the respect of family and friends. 

Hola,

A lovely, lovely comment ... and so true.

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