Tuesday, April 7, 2020

Business Education

No Surprises Here: Gates, Buffet, Bezos, And Ortega Tops Forbes’ 2017 Rich List

For the fourth year in a row, Bill Gates ranks at No.1 on Forbes magazine’s 2017 list of billionaires, with a fortune worth $86 billion, up from $75 billion last year.

The title of 2nd richest went to Warren Buffet, with a fortune worth $75.6 billion, up from $60.8 billion last year.

The traditional bronze place went to Amazon’s Jeff Bezos, who accumulated an additional $27.6 billion to his fortune since last year.

The 4th spot on the list was bagged by the Spanish clothing chain Zara owner Amancio Ortega at $71.3 billion, Facebook’s Mark Zuckerberg came in 5th with $56 billion, and sixth place went to Carlos Slim Helu of Mexico.

Trump’s tumble:

Meanwhile, property mogul-turned-US-President Donald Trump fell several spots in the rankings to No. 544 with assets of $3.5 billion from his television and real estate holdings.

Last year, Trump ranked at No. 324 with $4.5 billion.

The ultra rich just keep getting richer – the top ten:

  1. Bill Gates (Microsoft co-founder): $86 billion
  2. Warren Buffett (US investor): $75.6 billion
  3. Jeff Bezos (Amazon founder): $72.8 billion
  4. Amancio Ortega (Inditex founder): $71.3 billion
  5. Mark Zuckerberg (Facebook founder): $56 billion
  6. Carlos Slim (Mexican magnate): $54.5 billion
  7. Larry Ellison (Oracle co-founder): $52.2 billion
  8. Charles Koch (US businessman): $48.3 billion
  9. David Koch (US businessman): $48.3 billion
  10. Michael Bloomberg (Bloomberg founder): $47.5 billion

The global billionaire population climbed nearly 13% from 1,810 to 2,043 over the past year – with an average net worth of $3.5 billion.

There are 277 women on the list, up from 202 last year.

The combined fortunes of this year’s billionaires totaled $7.67 trillion, up from $6.48 trillion in 2016.

The U.S. has the most billionaires, with 565, followed by China, with 319 and Germany with 114 billionaires.

Eight of the top ten on the list hail from the United States. Gates has claimed this title 18 out of the past 23 years. Overall, each billionaire had a richer year compared to the year prior. As many as 101 Indians, including 13 newcomers made it to the latest “The World’s Billionaires” list.

With a net worth of $23.2 billion, Mukesh Ambani is the highest-ranked Indian in the list, at No. 33. He is followed by Lakshmi Mittal (No. 56; $16.4 billion); Azim Premji (No. 72; $14.9 billion); Dilip Shanghvi (No. 84; $13.7 billion) and Shiv Nadar (No. 102; $12.3 billion), to round off the top 5 Indian entries in the list.

Dr. Amarendra Bhushan Dhiraj
Dr. Amarendra Bhushan Dhiraj is the CEO and editorial director at CEOWORLD magazine, the leading global business magazine written strictly for CEOs, CFOs, top managers, company directors, investors, senior executives, business leaders, and high net worth individuals.
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