Forbes magazine reported billionaires achieving record-breaking wealth worldwide, with two-thirds being self-made billionaires.
In a recent CNBC interview, Steve Forbes said despite U.S. politicians’ cries of class inequality to draw attention away from the motionless economy and problems created by their laws, the U.S. has a record-high number of billionaires who are creating jobs and a higher standard of living. In fact, Forbes magazine reported billionaires achieving record-breaking wealth worldwide, with two-thirds being self-made billionaires.
The 1,645 world billionaires that make up 2014’s Billionaires list are worth $6.4 trillion, up from $5.4 trillion 1 year ago. Their average net worth is $4.7 billion.
The number of billionaires is also at a record-high, up 219 from 1 year ago.
Of the new additions, many have come out of the retail and technology industries, especially social media.
The U.S. still has the most billionaires, nearly 500 names, and added 50 new names in 2014. China has the next highest number of billionaires with 152, and Russia has 111.
Microsoft’s Bill Gates is the world’s richest man worth $76 billion. Telecom magnate Carlos Slim comes in 2nd with $72 billion and Zara fashion’s Amancio Ortego 3rd with $64 billion.
Forbes says the strong bull market, with the S&P 500 increasing almost 30 percent, contributed to the wealth increase.
The separate list of the 400 richest Americans has a total worth of approximately $2 trillion, up $300 billion from 2013.