Sunday, July 5, 2020

World’s elite jacked up their wealth by 25 percent in 2019

Featured

SBP calls meeting of Bank Presidents, top builders on Naya Pakistan Housing Program

Governor State Bank of Pakistan (SBP) Dr. Reza Baqir called a meeting of Banks on Wednesday for deliberations on...

Trump attends a graduation ceremony for officers, amid disputes with the Pentagon

US President Donald Trump is taking part in a ceremony to hand over certificates at the prestigious West Point...

Malaysia: coordinating border controls to combat migrant smuggling

The Malaysia police announced their cooperation with the armed forces and other enforcement agencies in conducting coordinated border controls...
Hailey Warner
Hailey Warner
Hailey isn't the biggest fan of Winter, but she's doing her best to embrace the cold weather and snow. You can find her trying out new recipes, playing squash or writing editorials.

The world’s elite succeeded in adding $1.2 trillion to their total wealth during 2019, recording an increase of 25 percent towards the end of the year, with the support of the trade truce between the United States and China, strong American job data and calm political tensions inside the Kingdom United about the exit crisis of the European Union, Bloomberg reported.

The US Agency indicated that its “Bloomberg Billionaires” index, which is the daily ranking of the 500 richest people in the world, monitored the growth of the total wealth of the world’s wealthy to $5.9 trillion, thereby re-igniting the globally heated debate about the widening wealth gap between classes and wage differentials, which has become a threat to global economies. According to the opinions of analysts.

Read also: Top paid managers of the global companies, learn about their salaries

Report pointed out that the wealthy people inside the United States had the largest share in the list of the 500 richest people around the world compared to ever since 1929, which prompted some American politicians to demand a restructuring of the economic system inside the country.

“The hoarding of wealth by a few groups within societies comes at the expense of the people”, the US agency quoted Democratic Party deputy Alexandre Cortez as saying.

Read also: Where does Mark Zuckerberg spend his fortune?

According to the latest statistics of the “Billionaires Index”, the famous businessman Jeffrey Preston Bezos, founder and president of “Amazon.com”, was able to rise to the top of the list of the world’s richest people, indicating that despite losing 9 billion dollars after his divorce from his wife McKinsey, his company succeeded in achieving record sales during the season in the United States, increasing his wealth by about $59.3 million and reaching $116 billion.

In the second place! American businessmen Bill Gates, founder of “Microsoft” company, came with a fortune of $113 billion after adding about $23.1 billion since the beginning of the year until now, followed by the third place, the French 70-year-old Bernard Arnaud, with an estimated wealth of $106 billion. Adding nearly 37.7 billion dollars.

Bernard Arnaud is the founder, chairman and CEO of the Louis Vuitton Group that sells luxury goods consisting of more than 50 luxury brands and brands including Louis Vuitton, Dior and Fendi.

Warren Buffett, the businessman and most famous American investor on the New York Stock Exchange, managed to win the fourth place on the list of the world’s rich with a total wealth of $89 billion after he succeeded in adding $5.2 billion to his total wealth since the beginning of the year until now.

Mark Zuckerberg, 34, and founder of the famous social networking site “Facebook”, jumped fifth with a total wealth of $79 billion, doubling his wealth by nearly $27.4 billion.

Read also: How Michael Bloomberg became a multi-billionaire

Hailey Warner
Hailey Warner
Hailey isn't the biggest fan of Winter, but she's doing her best to embrace the cold weather and snow. You can find her trying out new recipes, playing squash or writing editorials.

Latest News

PIA flight from Toronto to Islamabad will operate on 5 July 2020

PIA flight from Toronto to Islamabad will operate on 5 July 2020. Another PIA flight will operate from Toronto...

Sacrificing role models of media

Remember Anil Datta, a gem of a reporter and guru of a sub-editor with the exemplary national spirit, foregoing job offers from the foreign...

Banks performance under SBP Rozgar Refinance Scheme supported by Government of Pakistan’s Risk Sharing Facility

On April 10, 2020 State Bank of Pakistan introduced a refinance scheme to provide concessional credit at 3% interest rate and generous repayment terms...

SBP calls meeting of Bank Presidents, top builders on Naya Pakistan Housing Program

Governor State Bank of Pakistan (SBP) Dr. Reza Baqir called a meeting of Banks on Wednesday for deliberations on the measures proposed by Naya...

China: The Indian army has breached its obligations and launched provocative attacks, causing casualties

Zhang said - in a statement this evening about the clashes between the Chinese and Indian border forces in the Galvan Valley region -...

Related News