Bill Gates to become the world’s first trillionaire
Bill Gates is well on his way to becoming the world’s first ever trillionaire.
According to a report from Oxfam, we could get our first trillionaire in the next 25 years thanks to the exponential growth of existing wealth.
By that time, the 61-year-old Microsoft founder will be the spritely young age of 86.
And ‘despite his commendable attempts to give [his money] away through his foundation’, Gates’s net worth increased by $25billion (£20billion) in the decade after he left the company. So in 2016, his net worth stood at $75billion (£60billion).
So, in order to estimate how much he’ll be worth in a few years, researchers applied the average rate of growth that the ultra-rich have been enjoying – 11% since 2009 – to Gates’s current level of wealth, which is more than $84billion (£67.2billion).
*Whistles appreciatively*
‘In such an environment, if you are already rich, you have to try hard not to keep getting a lot richer,’ the report says.
However, this isn’t necessarily a good thing – and despite Gates’s charitable deeds, it does highlight a growing problem of major wealth inequality.
Source: http://metro.co.uk/2017/01/31/bill-gates-is-going-to-become-the-worlds-first-trillionaire-6417167/
According to a report from Oxfam, we could get our first trillionaire in the next 25 years thanks to the exponential growth of existing wealth.
By that time, the 61-year-old Microsoft founder will be the spritely young age of 86.
And ‘despite his commendable attempts to give [his money] away through his foundation’, Gates’s net worth increased by $25billion (£20billion) in the decade after he left the company. So in 2016, his net worth stood at $75billion (£60billion).
So, in order to estimate how much he’ll be worth in a few years, researchers applied the average rate of growth that the ultra-rich have been enjoying – 11% since 2009 – to Gates’s current level of wealth, which is more than $84billion (£67.2billion).
*Whistles appreciatively*
‘In such an environment, if you are already rich, you have to try hard not to keep getting a lot richer,’ the report says.
However, this isn’t necessarily a good thing – and despite Gates’s charitable deeds, it does highlight a growing problem of major wealth inequality.
Source: http://metro.co.uk/2017/01/31/bill-gates-is-going-to-become-the-worlds-first-trillionaire-6417167/
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