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Soaring Microsoft shares boosted Bill Gates's fortune by $15.8bn in 2013 | |
(about 17 hours later) | |
The 300 richest people on the planet are $524bn (£319bn) better off than this time last year, with the world's richest man, Microsoft founder Bill Gates, increasing his fortune by $15.8bn to $78.5bn over 2013. | The 300 richest people on the planet are $524bn (£319bn) better off than this time last year, with the world's richest man, Microsoft founder Bill Gates, increasing his fortune by $15.8bn to $78.5bn over 2013. |
Research by Bloomberg's Billionaires Index showed that the world's 300 richest are now collectively worth $3.7tn – more than one and a half times Britain's GDP. | Research by Bloomberg's Billionaires Index showed that the world's 300 richest are now collectively worth $3.7tn – more than one and a half times Britain's GDP. |
Gates, who regained the title of the world's richest man in May from Mexican telecoms magnate Carlos Slim, made most of his gains from the 40% increase in the price of Microsoft shares. He owns about 4.5% of the company he founded in 1975 and is still the largest individual shareholder. | Gates, who regained the title of the world's richest man in May from Mexican telecoms magnate Carlos Slim, made most of his gains from the 40% increase in the price of Microsoft shares. He owns about 4.5% of the company he founded in 1975 and is still the largest individual shareholder. |
He also benefited from rallies in other stocks in his portfolio, including Canadian National Railway company (up 34%) and hand sanitiser company Ecolab (up 45%). America's S&P 500 index last year made its biggest gains since 1997. | He also benefited from rallies in other stocks in his portfolio, including Canadian National Railway company (up 34%) and hand sanitiser company Ecolab (up 45%). America's S&P 500 index last year made its biggest gains since 1997. |
Gates holds stakes in about 35 public-listed companies and many private firms, including Four Season Hotels, via investment company Cascade Investments. Less than a quarter of his wealth is held in Microsoft shares. He has donated $28bn to the Bill & Melinda Gates Foundation, which is trying to eradicate polio, malaria and measles. | Gates holds stakes in about 35 public-listed companies and many private firms, including Four Season Hotels, via investment company Cascade Investments. Less than a quarter of his wealth is held in Microsoft shares. He has donated $28bn to the Bill & Melinda Gates Foundation, which is trying to eradicate polio, malaria and measles. |
The second biggest gainer in 2013 was Sheldon Adelson, the founder of Las Vegas Sands, the world's largest casino company. His fortune grew by $14.4bn following a 71% rise in the company's share price. Despite its name, most of the company's growth came from the tiny Chinese city of Macau, where casinos collected $45bn in gambling revenues last year – about seven times as much as in Sin City – according to estimates. | The second biggest gainer in 2013 was Sheldon Adelson, the founder of Las Vegas Sands, the world's largest casino company. His fortune grew by $14.4bn following a 71% rise in the company's share price. Despite its name, most of the company's growth came from the tiny Chinese city of Macau, where casinos collected $45bn in gambling revenues last year – about seven times as much as in Sin City – according to estimates. |
Only 70 of the 300 on the list made a loss last year. The biggest was Eike Batista, who has plummeted from being ranked the world's eighth richest man in March 2012 to having a "negative net worth", according to Bloomberg. | Only 70 of the 300 on the list made a loss last year. The biggest was Eike Batista, who has plummeted from being ranked the world's eighth richest man in March 2012 to having a "negative net worth", according to Bloomberg. |
Eike, a Brazilian who had made $30bn from oil and gas exploration, lost it all when his company, Oleo e Gas Participacoes, filed for bankruptcy protection in October. Four years ago he had boasted to Forbes magazine that he would become the world's richest man. | Eike, a Brazilian who had made $30bn from oil and gas exploration, lost it all when his company, Oleo e Gas Participacoes, filed for bankruptcy protection in October. Four years ago he had boasted to Forbes magazine that he would become the world's richest man. |
Slim was also one of the biggest losers, with his net worth dropping $1.4bn in the course of last year after Mexico's government tried to reduce the dominance of his América Móvil mobile phone company. | Slim was also one of the biggest losers, with his net worth dropping $1.4bn in the course of last year after Mexico's government tried to reduce the dominance of his América Móvil mobile phone company. |
More than 100 billionaires were created in 2013, including the youngest female billionaire, Lynsi Torres, the 31-year-old owner and president of US burger chain In-N-Out. | More than 100 billionaires were created in 2013, including the youngest female billionaire, Lynsi Torres, the 31-year-old owner and president of US burger chain In-N-Out. |
• The headline and subheading on this article were amended on Friday 3 January 2014 to make it clear that Bill Gates regained the title of world's richest man in May last year. | |
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