Wednesday, January 9, 2013

See how equitable and inclusive is our growth!

The Ultra Rich Got (a Lot) Richer Last Year

The 100 richest billionaires on the planet got even richer in 2012, adding $241 billion to their collective net worth, according to the Bloomberg Billionaires Index.

This sum is equivalent to 80% of the US $300 billion external debt held by the 47 countries on the African continent. Home to 1 billion people, Africa spends about 16% of the continent’s export earnings on servicing the external debt.

The aggregate net worth of this group of ultra-rich individuals stood at $1.9 trillion at the market close on Dec. 31, reports Bloomberg. Together these one hundred persons would be able to pay off all African debt six times, after which they would still have a collective wealth of one hundred billion dollars.

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