The World's Richest End 2016 $237B Richer In The Midst Of Global Populist Movement

Warren Buffett
Berkshire Hathaway Ceo Warren Buffett

This year will be remembered as the time populism shook up power, politics and major economies across Europe and the US. But while 2016 has been a victory for populist voters, the world's richest are ending the year with a bang too, adding a whopping $237B to their ledgers.

"The people" had their say this year, including the shocking Brexit vote where the UK decided to leave the European Union, followed by President-elect Donald Trump's upset victory in November and Italy limiting the power of its Senate in December. While populist voters pushed for reform that would benefit the masses, the richest people in the world faced volatility, with $4.8 trillion in daily net worth gains and losses through the year, Bloomberg reports.

Real estate mogul Warren Buffett of Berkshire Hathaway was a big winner, reclaiming his throne as the second-richest person in the world two days after Trump's win. Buffett experienced a year-end rally that upped his fortune by 19% to $74.1B. [Bloomberg]

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's National Newsletters
Related Stories

Why Hines Is Restarting Its Development Engine

How Integrated Infrastructure Can Help AI Data Centers Deploy Faster, Build Smarter

Nvidia Buys Stake In Data Center Power Company

Invesco Cuts Fees, Adds Incentives To Quell Fund Redemption Requests

Investors Anchor Big Capital Into Marinas, Betting On Shallow Supply

NYC Office Investor Warns It Could Go Under As Defaults Pile Up

Pinewood Studios Pays Owners £100M Dividend And Completes £300M Refinancing

Nike Closes 15 Stores Amid Tumultuous Year

Large Commercial Real Estate Sales Up 30% Despite Economic Headwinds

Evergrande Founder Sentenced To Life, 56 Others Sent To Prison In China

Loud And Clear: Why Aiphone Thinks Intercom Ownership Is Best For Multitenant Buildings

Coconut Grove Office Flipped For $15M Gain After One Year