daniel chigunweUltra-rich dynasties have added another US$1,5 trillion to their personal fortunes this year, the outlet reported Thursday. Strong economic growth, cooling inflation, and resilient consumer spending have all helped to support their businesses over the past 12 months.
Abu Dhabi rulers the Al Nahyans and the owners of the French luxury fashion house Herms have both seen their wealth balloon in 2023, per Bloomberg.
The Al Nahyans, who preside over the oil-rich Middle-Eastern emirate and own UK soccer club Manchester City, blew past the US’s Walton clan to become the world’s richest family, according to the publication.
It’s the first time in five years that a family other than the Walmart heirs has been the world’s richest. Meanwhile, the family that controls Herms – including the brand’s artistic director Pierre-Alexis Dumas and executive chairman Axel Dumas – added US$56 billion worth of wealth in 2023 to place third on Bloomberg’s list.
The Waltons, chocolate tycoons the Mars family, and oil billionaires the Kochs are the US’s three representatives in the outlet’s top 10.
The ultra-rich getting richer has been a consistent theme in 2023, with stock prices rebounding and the world economy tending to hold up better than gloomy forecasters had expected at the start of the year.
The world’s two richest men – Tesla chief executive officer Elon Musk and Amazon founder Jeff Bezos – have added over US$150 billion worth of wealth alone, according to Bloomberg’s Billionaires Index.
Indian tycoon Gautam Adani and American socialite and philanthropist Julia Koch are the only two of the world’s 20 richest people who’ve gotten poorer this year, per the outlet. – Business Insider Africa
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