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27. World’s 400 Richest Add $92 Billion in 2014 as Alibaba Jumps

Wed Dec 31, 2014, 10:02 AM

Dec 2014

http://www.bloomberg.com/news/2014-12-29/world-s-400-wealthiest-add-92-billion-in-2014-as-alibaba-surges.html

The richest people on Earth got richer in 2014, adding $92 billion to their collective fortune in the face of falling energy prices and geopolitical turmoil incited by Russian President Vladimir Putin.

The net worth of the world’s 400 wealthiest billionaires on Dec. 29 stood at $4.1 trillion, according to the Bloomberg Billionaires Index, a daily ranking of the planet’s richest.

The biggest gainer was Jack Ma, the co-founder of Alibaba Group Holding Ltd. (BABA), China’s largest e-commerce company. Ma, a former English teacher who started the Hangzhou-based company in his apartment in 1999, added $25.1 billion to his fortune, riding a 56 percent surge in the company’s shares since its September initial public offering. Ma, 50, with a $28.7 billion fortune, briefly passed Li Ka-shing as Asia’s richest person.

“I am nothing but happy when young people from China do well,” Li, 86, said through his spokeswoman in Hong Kong.

Global stocks rose in 2014, with the MSCI World Index advancing 4.3 percent during the year to close at 1,731.71 on Dec. 29. The Standard and Poor’s 500 Index rose 13 percent to close at 2,090.57. The Stoxx Europe 600 gained 4.9 percent to close at 344.27.

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