The 100 wealthiest people on the planet added US$380 million to their collective net worth after the Standard & Poor’s (S&P) 500 Index reached its highest level since October 2007 last week.
Carlos Slim, the world’s richest man, shed US$3.9 billion from his net worth as shares of America Movil SAB slid 10.8 percent after the mobile phone operator said slower economic growth in Mexico hurt revenue.
Slim, 73, has a net worth of US$74.1 billion, according to the Bloomberg Billionaires Index.
The S&P 500 closed at 1,519.79 on Friday, up 0.12 percent for the week. The index capped a seventh straight weekly gain, the longest streak in two years.
Better-than-forecast manufacturing and consumer confidence data fueled optimism in the economy. The yen erased gains against the US dollar as G20 finance officials met in Moscow.
Microsoft co-founder Bill Gates, 57, is the world’s second-richest person with a US$66.2 billion fortune.
Amancio Ortega, the 76-year-old founder of Inditex SA, the world’s biggest clothing retailer and owner of the Zara clothing chain, is No. 3 with a net worth of US$57.4 billion, US$3.9 billion ahead of Warren Buffett.
The 82-year-old Buffet’s Berkshire Hathaway Inc and 3G Capital, an investment firm backed by three Brazilian billionaires — Jorge Paulo Lemann, 73, and his partners Marcel Telles and Carlos Alberto Sicupira — agreed to buy Pittsburgh-based HJ Heinz Co for about US$23 billion on Thursday.
The trio have a combined net worth of US$35.5 billion. Lemann is Brazil’s richest man.