Tags: Bill Gates | World | Trillionaire

Bill Gates Set to Become World's First Trillionaire

Image: Bill Gates Set to Become World's First Trillionaire

(AP)

By    |   Wednesday, 01 Feb 2017 01:28 PM

Microsoft co-founder Bill Gates could be the world's first trillionaire, according to research by Oxfam, reports CNBC.

Gates, 61, is already worth around $85 billion and at the rate of return on his wealth that he is getting now, he could hit $1 trillion by age 86, Oxfam research found. 

The poverty research group said that very rich people have been earning an 11 percent rate of return since 2009.

"If billionaires continue to secure these returns, we could see the world's first trillionaire in 25 years. In such an environment, if you are already rich, you have to try hard not to keep getting a lot richer," the report said.

That result would happen even though Gates has given billions to charity, Oxfam's report said. In 2013, The Telegraph reported that he had given away $28 billion.

According to Forbes writer Tim Worstall, the rate of return is actually around 4 percent, so Gates could only be worth $200 billion in 25 years.

"More than you or I will ever have, but it's not a trillion, is it?" Worstall wrote.

Eight billionaires have as much wealth as the 3.6 billion people in the poorest half of the world's population, according to Oxfam's report.

© 2017 Newsmax. All rights reserved.

 
1Like our page
2Share
Newsfront
Microsoft co-founder Bill Gates could be the world's first trillionaire, according to research by Oxfam, reports CNBC.
Bill Gates, World, Trillionaire
205
2017-28-01
Wednesday, 01 Feb 2017 01:28 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved