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.
"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.
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.
I have just one thing to say about Mr. Gates: Disgusting.
Oh, and for those of you who thought the Rothschilds were already trillionaires that is incorrect. If you take the entire Rothschild family and lump all their money together, yes they are trillionaires, but individually they are not. It looks like Gates beat them to it.