The Emerald City continues to grow while it also appears more distant. At issue is the fact that markets have not responded to the Chemical Assault – Scorched earth designed within the Anglo-American paradigm. In fact President Barack Obama can narrowly be re-elected. Here is a link to nation-states by GDP.
The ranks of the world’s billionaires, as monitored and tallied by our global wealth team, have yet again reached all-time highs. The 2013 Forbes Billionaires list now boasts 1,426 names, with an aggregate net worth of $5.4 trillion, up from $4.6 trillion. We found 210 new ten-figure fortunes. Once again the U.S. leads the list with 442 billionaires, followed by Asia-Pacific (386), Europe (366), the Americas (129) and the Middle East & Africa (103).
Resurgent asset prices are the driving force behind the rising wealth of the super-rich around the globe. While last year almost as many fortunes fell as rose, this year gainers outnumbered losers by 4-to-1. Many new names made the list thanks to free-spending consumers. To name a few: Diesel jeans mogul Renzo Rosso at $3 billion, retailer Bruce Nordstrom at $1.2 billion and designer Tory Burch at $1 billion.
Carlos Slim is once again the world’s richest person, followed by Bill Gates. Amancio Ortega of Spanish retailer Zara moves up to No. 3 for the first time. He is the year’s biggest gainer, adding $19.5 billion to his fortune in one year. He moves ahead of Warren Buffett, despite the fact that the U.S. investing legend added $9.5 billion to his fortune. This is the first year since 2000 that Buffett has not been among the top 3. The year’s biggest loser is Brazilian Eike Batista, whose fortune dropped by $19.4 billion, or equivalent to about $50 million a day. His rank falls from no. 7 to no. 100 in the world.