World’s richest gain $1.2 trillion
From ‘Baby Shark’ to wrecked cars, odd fortunes grew
The leveraging of a giant social-media presence, a catchy tune about a family of sharks and a burgeoning collection of junkyards are just a few of the curious ways that helped make 2019 a fertile year for fortunes to blossom around the world.
Kylie Jenner — of Kardashian clan fame — became a young billionaire this year after her company, Kylie Cosmetics, signed an exclusive partnership with Ulta Beauty Inc. The 21year-old then sold a 51% stake for $600 million.
It has been almost two months since the Washington Nationals captured their first World Series championship, but people around the world are still singing along to the baseball team’s adopted rallying cry: “Baby Shark, doo-doo doo-doo doo-doo.” The Korean family that helped popularize the viral earworm is now worth about $125 million.
Even car wrecks proved to be a treasure trove. Willis Johnson, who founded Copart Inc., has amassed a $1.9 billion fortune by building a network of junkyards.
Here’s what the year looked like for the 0.001%:
2019 winners
■ The 172 American billionaires on the Bloomberg ranking added $500 billion, with Facebook’s Mark Zuckerberg up $27.3 billion and Microsoft co-founder Bill Gates rising $22.7 billion.
■ Representation from China continued to grow, with the nation’s contingent rising to 54, second only to the U.S. He Xiangjian, founder of China’s biggest air-conditioner exporter, was the standout performer as his wealth surged 79% to $23.3 billion.
■ Russia’s richest added $51 billion, a collective increase of 21%, as emerging-market assets from currencies to stocks and bonds rebounded in 2019 after posting big losses a year earlier.
2019 declines
■ Rupert Murdoch’s personal fortune dropped by about $10 billion after proceeds from Walt Disney’s purchase of Fox assets were distributed to his six children, making them billionaires in their own right.
■ Interactive Brokers Group Inc.’s Thomas Peterffy saw his wealth slump by $2.1 billion as investors weighed a reshaped competitive landscape for brokerage businesses after rival Charles Schwab Corp. agreed to buy TD Ameritrade Holding Corp.
■ WeWork’s Adam Neumann saw his fortune implode as the struggling office-sharing company’s valuation dropped to $8 billion in October from an estimated $47 billion at the start of the year.
New billionaires
■ White Claw, the “hard seltzer” that was the hit of the summer among millennials, helped boost Anthony von Mandl’s net worth to $3.6 billion.
■ Mastering the art of fastfood deliveries proved rewarding for Jitse Groen, the Dutchman whose soaring Takeaway.com NV lifted his wealth to $1.5 billion.
■ The popularity of soy milk gave eight members of Hong Kong’s Lo family a combined $1.5 billion.