Though it would still take about $915.6 billion for Gates to become the world’s first trillionaire, the new research says he may be way closer than we think.
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%.
“The super-rich can achieve returns that are not available to the ordinary saver, helping the gap to grow between the wealthy and everyone else,”
“The bigger the initial investment, the higher returns one can make as the initial costs of sophisticated advice and high-risk investments can be justified with the potential for super-lucrative returns.”–Oxfam Report.Loading...
The Oxfam report also revealed that the rate of inequality between the rich and the poor in the world is increasing. It also noted that about 8 people in the world own as much wealth found in poor countries of the world.
“Over the last 25 years, the top 1% have gained more income than the bottom 50% put together.”
Except Bill Gates increases his regular charity donations, it is believed that his net worth by 2042 will definitely go up to a trillion dollars.
The report says that Bill Gates was worth $50 billion when he left Microsoft in 2006.
10 years later (2016), his net worth went up to $75 billion, “despite his commendable attempts to give it away through his Foundation.”
If his investment returns continue to take a continuous successful trend, then Bill Gates could be the world’s first trillionaire at age 86.
The Gates and the investment guru, Warren Buffet, founded the Giving Pledge Initiative where the world’s richest make huge donations for philanthropic causes. The pledge goes from 1% of their net worth to 50% and even up to 90%.