22:03 GMT07 August 2020
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    Bill Gates, co-founder of Microsoft, might break the $1-trillion personal net worth mark in the next 25 years, according to a report by Oxfam, a consortium of international charity organizations.

    The world's richest man might be the first human to break the $1 trillion personal wealth barrier, over the course of the next 25 years, according to a report by Oxfam, an international group of charity organizations. Bill Gates, the co-founder of tech giant Microsoft, could reach a $1-trillion wealth mark by 2042, becoming the world's first trillionaire.

    Gates, whose net worth is currently estimated at some $75 billion, according to Forbes magazine's list of world billionaires, will celebrate his 84th birthday in 2042, and his earnings are projected to breach that boundary at around that time.

    Oxfam, an international organization that fights poverty worldwide, bases its predictions on measurements showing that Gates's wealth has grown at an average rate of 11 percent annually since 2009.

    "If billionaires continue to secure these returns, we could see the world's first trillionaire in 25 years," the Oxfam report said.

    "In such an environment, if you are already rich you have to try hard not to keep getting a lot richer."

    The report claims that the sum total of net worth attributed to the top eight wealthiest people in the world is larger than the financial resources of the world's poorest 3.6 billion.

    Like most of the super rich, Gates has established charity organizations, including the Bill & Melinda Gates Foundation. However, Gates has been known to say that while charity from billionaires is welcome, it can never be a "substitute for adequate and fair taxation."

    In the 2015 Forbes billionaire list, there were 1826 people whose wealth was over $1 billion. A more recent 2016 ranking shows that many of world's richest people, overwhelmingly men, have made their wealth through tech, Internet and communications, as Bill Gates, Jeff Bezos (Amazon), Mark Zuckerberg (Facebook), Larry Ellison (Oracle), Larry Page (Google), and Sergey Brin (Google) are all in the top 20 of the Forbes list.

    Despite often being portrayed as a country of over-the-top rich white oligarchs (see Robbie Williams in "Party like a Russian"), Moscow seems to be far down the list. According to Forbes, Russia's wealthiest man is Leonid Mikhelson, at number 60, with a paltry $14.4 billion, far under Saudi Arabia's Prince Alwaleed Bin Talal Alsaud, with his somewhat-more-respectable $17.3 billion.


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    report, wealth, rich, Forbes, Oxfam, Bill Gates, United States
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