World’s Richest Worth $1 Trillion on Billionaire List

[FarCenter]

The 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.

http://www.bloomberg.com/news/2012-04-19/world-s-richest-worth-1-trillion-on-billionaires-index.html

[JI7]

1. should some of that money go to people in Saudi Arabia and elsewhere

is it really "his" money. or rightly his money ?

[FarCenter]

3. What do you mean "rightly"?

He's a member of the royal family. He gets a chunk of SA oil revenues and he invests them.

[Fumesucker]

2. Invest in politicians and watch your fortune grow..

That's a sound investment strategy..

[Javaman]

4. "There is no secret to success..."

"I was born into a wealthy family".