May 23, 2017

Bill Gates could become the world’s first trillionaire

Bill Gates could become the world’s first trillionaire

Bill Gates may be $915.6 billion away from becoming the world’s first trillionaire, but new research suggests he’s closer than some might think. A new Oxfam report on wealth and inequality, entitled “An economy for the 99%,” finds super-rich people like Gates have seen their wealth collectively grow by huge margins over the last decade. Within the next 25 years, Gates’ wealth could jump like never seen before.

According to Oxfam’s report, there were 793 billionaires worldwide in 2009. Added up, their net worths totaled $2.4 trillion. By 2016, the richest 793 people maintained net worths of $5 trillion — an annual growth of 11%.

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“If these returns continue, it is quite possible that we could see the world’s first trillionaire within 25 years,” the report states.

In other words, Oxfam estimates that if trends hold, Gates — who’s leading the pack on Forbes’ list of the wealthiest individuals, at $84.4 billion in net worth — could stand alone on Forbes’ future list of “The World’s Trillionaires.” Not that Gates necessarily wants the distinction. Since leaving Microsoft in 2006, he has devoted his time and resources to eradicating infectious disease and improving education worldwide through the Bill and Melinda Gates Foundation. Read more 

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