The world’s billionaires added a lot more zeros to their bank accounts in 2012.
According to the Bloomberg Billionaires Index, the 100 richest people around the globe boosted their net worth by a collective $241 billion over the last 12 months. As of Dec. 31, 2012, these tycoons controlled a combined $1.9 trillion of the world’s wealth.
The biggest winner in 2012 was Amancio Ortega, founder of the Spanish retail conglomerate Inditex SA, says Matt Miller, editor of the Bloomberg Billionaires Index in an interview with The Daily Ticker.
Ortega increased his wealth by $22.2 billion in 2012 – more than the entire fortune of Alisher Usmanov, Russia’s richest man. The massive jump in Ortega’s fortune can be attributed to the 66.7% rise in Inditex SA stock (like most wealthy people, Ortega's wealth is "paper money" i.e. stock holdings).
One of the best-performing companies in the Inditex SA umbrella is Zara, a popular women’s clothing retailer that sells the latest fashion trends atRead More »from Zara Co-Founder Increases Wealth by $22.2B in 2012