World’s Richest Gain $25 Billion as Zong Now Top in China

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http://www.bloomberg.com/news/2012-09-07/world-s-richest-gain-25-billion-as-zong-now-top-in-china.html

The 40 richest people on the planet added $25.3 billion to their collective net worth this week as global equities soared.
One of the biggest gainers was Amancio Ortega, who gained $1.3 billion, according to the Bloomberg Billionaires Index. Shares of Inditex SA (ITX), the world’s largest clothing retailer, rose 0.81 percent during the week, pushing the 76-year-old Spaniard’s fortune to $47.7 billion -- $1.3 billion ahead of Warren Buffett.

The increases came after European Central Bank President Mario Draghi outlined an unlimited bond-purchase program to reduce interest rates for struggling nations and fight speculation of a breakup of the euro. In the U.S., payrolls rose less than projected in August while the unemployment rate was unexpectedly driven down by Americans leaving the labor force, boosting the odds of additional Federal Reserve easing.

“Non-farm payroll was disappointing across the board. There were fewer jobs created than anticipated along with a decrease in the labor force participation rate,” said James Gaul, a portfolio manager at Boston Advisors LLC, which oversees about $2.2 billion in assets. “You can boil this week down to government central banking activity buoying asset prices.”