Daily Current Affairs 2021 World's wealthiest richer by $1tn in 2017 | Daily Current Affairs 2021

World’s wealthiest richer by $1tn in 2017

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The richest people on earth became $1 trillion richer in 2017, more than four times last year’s gain, as stock markets shrugged off economic, social and political divisions to reach record highs.
The 23% increase on the Bloomberg Billionaires Index, a daily ranking of the world’s 500 richest people, compares with an almost 20% increase for both the MSCI World Index and Standard &Poor’s 500 Index.
Amazon founder Jeff Bezos added the most in 2017, a $34.2-billion gain that knocked Microsoft co-founder Bill Gates out of his spot as the world’s richest person in October. Gates, 62, had held the spot since May 2013, and has been donating much of his fortune to charity, including a $4.6-billion pledge he made to the Bill & Melinda Gates Foundation in August. Bezos, whose net worth topped $100 billion at the end of November, currently has a net worth of $99.6 billion compared with $91.3 billion for Gates.
George Soros also gave away a substantial part of his fortune, revealing in October that his family office had given $18 billion to his Open Society Foundations over the past several years, dropping the billionaire investor to No. 195 on the Bloomberg ranking, with a net worth of $8 billion.
By the end of trading on Tuesday, December 26, the 500 billionaires controlled $5.3 trillion, up from $4.4 trillion on December 27, 2016.
The number of Asian billionaires surpassed the US for the first time, according to a UBS Group and Pricewaterhouse-Coopers report.

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