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If you enjoy the content at iBankCoin, please follow us on TwitterThe 40 richest individuals on Earth lost a combined $6.2 billion yesterday as stocks dropped amid disappointing U.S. earnings, according to the Bloomberg Billionaires Index, a daily ranking of the wealthiest people.
Saudi Prince Alwaleed bin Talal joined the index, which doubled the number of billionaires it tracks yesterday. Alwaleed’s fortune has increased 18.2 percent, or $3.2 billion, this year, as shares of his Kingdom Holding Co. (KINGDOM), a diversified investment group that is planning to build the world’s tallest tower, rose 36 percent. The 57-year-old ranks 24th on the index with a net worth of $20.5 billion.
“There is no secret to success,” Alwaleed said in an e-mail sent from Saudi Arabia. “It is based on a sound investment strategy, commitment and long-term vision.”
The Bloomberg Billionaires Index takes measure of the world’s wealthiest people based on market and economic changes and Bloomberg News reporting. Each net worth figure is updated every business day at 5:30 p.m. in New York. The valuations are listed in U.S. dollars.
The expanded list was published with the release of new billionaires profile pages in the Bloomberg Professional service. The profiles feature a transparent analysis of how each billionaire’s fortune was calculated.
Alwaleed’s fortune makes him richer than Google Inc. co- founders Larry Page and Sergey Brin. Page ranks in 29th place with $18.9 billion, while Brin ranks 32nd on the list compiled by Bloomberg News. He is worth $18.7 billion.
“There is no secret to success,” Alwaleed said in an e-mail sent from Saudi Arabia. “It is based on a sound investment strategy, commitment and long-term vision.”
Also, being a born-Saudi-Prince helps. If you have the means, I highly recommend it.
Sound investment strategy… and starting with $10 bil doesn’t hurt…
(Hey! At least I didn’t lose it! Pass the hemp cooling pipe!)
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