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Asian Tribune is published by World Institute For Asian Studies|Powered by WIAS Vol. 12 No. 1979

Billionaires are growing

By Habib Siddiqui

Recently, the Forbes has published the list of world’s billionaires. In it for the fourth year in a row, Bill Gates was named the richest man in the world. The number of billionaires increased 13% to 2,043 from 1,810 in 2016; this is the biggest change in over 30 years of tracking billionaires globally.

This is the first time after 12 years that Carlos Slim was not within the top five. The U.S. continues to have the most billionaires in the world, with a record of 565. China has 319 (this does not include Hong Kong with 67 and Macau with 1), Germany has 114 and India has the fourth most with 101; India has reached over 100 billionaires for its first time.

Here below is the list of 10 wealthiest people in our planet:

No.

Name

Net worth(USD)

Age

Nationality

Source(s) of wealth

♠1 Description: Description: Steady

Bill Gates

$86.0 billion Description: Description: Increase

61

Description: Description: https://upload.wikimedia.org/wikipedia/en/thumb/a/a4/Flag_of_the_United_States.svg/23px-Flag_of_the_United_States.svg.png United States

Microsoft

♠2 Description: Description: Increase

Warren Buffett

$75.6 billion Description: Description: Increase

86

Description: Description: https://upload.wikimedia.org/wikipedia/en/thumb/a/a4/Flag_of_the_United_States.svg/23px-Flag_of_the_United_States.svg.png United States

Berkshire Hathaway

♠3 Description: Description: Increase

Jeff Bezos

$72.8 billion Description: Description: Increase

53

Description: Description: https://upload.wikimedia.org/wikipedia/en/thumb/a/a4/Flag_of_the_United_States.svg/23px-Flag_of_the_United_States.svg.png United States

Amazon.com

♠4 Description: Description: Decrease

Amancio Ortega

$71.3 billion Description: Description: Increase

80

Description: Description: https://upload.wikimedia.org/wikipedia/en/thumb/9/9a/Flag_of_Spain.svg/23px-Flag_of_Spain.svg.png Spain

InditexZara

♠5 Description: Description: Increase

Mark Zuckerberg

$56.0 billion Description: Description: Increase

32

Description: Description: https://upload.wikimedia.org/wikipedia/en/thumb/a/a4/Flag_of_the_United_States.svg/23px-Flag_of_the_United_States.svg.png United States

Facebook

♠6 Description: Description: Decrease

Carlos Slim

$54.5 billion Description: Description: Increase

77

Description: Description: https://upload.wikimedia.org/wikipedia/commons/thumb/f/fc/Flag_of_Mexico.svg/23px-Flag_of_Mexico.svg.png Mexico

América MóvilGrupo Carso

♠7 Description: Description: Steady

Larry Ellison

$52.2 billion Description: Description: Increase

72

Description: Description: https://upload.wikimedia.org/wikipedia/en/thumb/a/a4/Flag_of_the_United_States.svg/23px-Flag_of_the_United_States.svg.png United States

Oracle Corporation

♠8 Description: Description: Increase

Charles Koch

$48.3 billion Description: Description: Increase

81

Description: Description: https://upload.wikimedia.org/wikipedia/en/thumb/a/a4/Flag_of_the_United_States.svg/23px-Flag_of_the_United_States.svg.png United States

Koch Industries

♠8 Description: Description: Increase

David Koch

$48.3 billion Description: Description: Increase

76

Description: Description: https://upload.wikimedia.org/wikipedia/en/thumb/a/a4/Flag_of_the_United_States.svg/23px-Flag_of_the_United_States.svg.png United States

Koch Industries

♠10 Description: Description: Decrease

Michael Bloomberg

$47.5 billion Description: Description: Increase

75

Description: Description: https://upload.wikimedia.org/wikipedia/en/thumb/a/a4/Flag_of_the_United_States.svg/23px-Flag_of_the_United_States.svg.png United States

Bloomberg L.P.

What is also amazing is that the number of billionaires grew from 470 to 2043 in just 17 years between 2000 and 2017, while their cumulative wealth grew by more than 8 times from $898 billion to $7.67 trillion! (See the table below.)

2017

2,043

$7.67 trillion

2016

1,810

$6.5 trillion

2015

1,826

$7.1 trillion

2014

1,645

$6.4 trillion

2013

1,426

$5.4 trillion

2012

1,226

$4.6 trillion

2011

1,210

$4.5 trillion

2010

1,011

$3.6 trillion

2009

793

$2.4 trillion

2008

1,125

$4.4 trillion

2007

946

$3.5 trillion

2006

793

$2.6 trillion

2005

691

$2.2 trillion

2004

587

$1.9 trillion

2003

476

$1.4 trillion

2002

497

$1.5 trillion

2001

538

$1.8 trillion

2000

470

$0.9 trillion ($898 billion)

Source: Forbes.

No wonder while the poor is becoming poorer in our world the richest few are becoming richer!

It is not a healthy sign for our world. Nor is this gap between the ultra-rich and the ultra-poor sustainable. It is bound to implode large one day. (To view my article on a similar issue - A second look at Pareto Principle, click here or here or here or here.)

- Asian Tribune -

Billionaires are growing
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