Last year was a year of change for the economy not just in Australia, but around the world.
This led to increasing income inequality.
2019 also brought about drastic changes in wealth for some of the world’s richest individuals.
HowMuch.net illustrated some of the most dramatic upswings and downswings for billionaires worldwide, as measured by the changes in their net worth from 2018 to 2019.
- Also read:Latest property price forecasts for 2024 revealed. What’s ahead in our housing markets in the next year or two?
- Also read:Here’s how to avoid these 12 common reasons property investors fail to build a Multi Million Dollar Property Portfolio
- Also read:Sydney property market forecast for 2024
- Also read:Boom to bust: What makes property prices rise and fall
- Also read:This week’s Australian Property Market Update – Latest Data, State by State November 28th, 2023
- According to Forbes, the top five “winners” amassed nearly $112 billion in additional net worth from 2018 to 2019, more than double the increase from 2017 to 2018.
- Taking a longer-term view, billionaires have fared much better over the past ten years.
- Since 2010, the 10 richest people in the world increased their net worth by more than half a trillion dollars.
- Although Facebook founder Mark Zuckerberg increased his net worth by $22.1 billion in 2019, he had lost $18.7 billion in net worth the previous year.
- In the top half of the visualization, we show the five billionaire “winners” by increasing order of positive changes to net worth.
- In the bottom half, we show the five billionaire “losers” by increasing order of negative changes to net worth.
- Each dot in the visualization is equal to $1 billion, and the dots are color-colored in shades of turquoise or pink to indicate magnitude (the darker the color, the greater the amount of money gained or lost, respectively).
- Jeff Bezos of Amazon fame had experienced the biggest increase in net worth in 2018. However, an expensive divorce settlement caused his net worth to decrease significantly in 2019.
1. Bernard Arnault, Chairman and CEO of LVMH Moët Hennessy–Louis Vuitton: +$40 billion
2. Mark Zuckerberg, Cofounder, Chairman and CEO of Facebook: +$22.1 billion
3. Amancio Ortega, Cofounder of Inditex: +$17.3 billion
4. Steve Ballmer, Owner of the Los Angeles Clippers: +$16.3 billion
5. Mukesh Ambani, Founder and Chairman of Reliance Industries: +$16.1 billion
1. Azim Premji, Chairman of Wipro Limited (ADR): -$14.1 billion
2. Jeff Bezos, CEO and Founder of Amazon: -$13.1 billion
3. Subhash Chandra, Chairman of Essel Group: -$3.4 billion
4. Travis Kalanick, Cofounder of Uber Technologies Inc.: -$3.1 billion
5. Yan Zhi, Chair of Zall Smart Commerce Group: -$3 billion