World billionaires richer by $1.9 trillion in 2020: Forbes

[Resurgence]

The billionaires of the world became richer by $1.9 trillion in 2020, according to the estimates Forbes released on Wednesday.

The magazine reports that, as of December 11, 2020, the billionaires’ total fortune amounts to $11.4 trillion, which exceeds last year's estimates ($9.5 trillion) by 20%.

In terms of cumulative growth of fortune, Chinese billionaires top the list. In 2020, their total fortune increased by $50 billion and reached $2 trillion.

The richest people in the USA rank second. In 2020, their fortune grew by $650 million. Thus, the amount of their capital is $2 trillion. The outgoing year turned out to be the most favorable for Elon Musk, head of Tesla and SpaceX, who earned $110 billion in a year. With his fortune amounting to $137 billion the entrepreneur ranks third on the Forbes list.

French billionaires rank third in terms of cumulative growth of their capitals. Their capital has grown by $ 95 billion over the year and is currently equal to $500 billion.

In particular, Bernard Arnault, CEO of the French group of companies LVMH (Louis Vuitton Moet Hennessy) became richer by $35 billion (his total fortune to about $148 billion) and heiress of the French company L'Oreal Francoise Bettencourt-Meyers earned $14 billion, (her total fortune is $74 billion).



https://tass.com/economy/1235977

[TommyJo]

This is what happens when you have a global goal.
Don't you see anything in common in the top three of the Forbes list?
These are people who think on a cosmic scale. And two of them literally dream of conquering space. Of course, in different ways.

[dueda]

Interesting how Donald Love, fictional investor from the GTA game, said "nothing reduces real estate value like a gang war, except maybe a plague"; but for those investors, not even COVID...
Anyway, my fortune raised US$ 5,000 in 2020.

[Executive]

Elon Musk authorized Tesla, Inc. to buy $1.5 billion of Bitcoin this week.  Although I don't currently invest in BTC,  I use it in the course of my business ventures, so I appreciate the increase in what I have to spend!  The drawback is that when the value of Bitcoin goes up, so do the send fees.  But at least it's uniform to what I would have spent previously.  If I ever decide to buy an electric car from Tesla, I won't have to convert my crypto-currency to U.S. Dollars -- I can buy with Bitcoin directly

[maskaw]

The drawback is that when the value of Bitcoin goes up, so do the send fees.

TX fees aren't tied to BTC's price.

If your business requires fast low price TXs I recommend ETH instead. TXs get confirmed in <=5mins at very low costs.