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Super rich in Qatar grow, but how big?
Qatar’s ultra-high-net-worth (UNHW) population rose 3% this year even as their total wealth fell by more than 2%, according to a study.
The total number of UNHWs in Qatar stood at 300 this year compared to 290 in the previous year while their total wealth was $45bn against $46bn, said the report issued by research company Wealth-X.
Full story: http://www.gulf-time...
Interestingly this still puts all of them combined at less that 75% of Bill Gates's (Microsoft founder) fortune, and this is after he has given much of it away to charity. I think this highlights that ideas, rather than natural resources, are what produce truly enormous wealth. Apple, for example, has annual profits that would rank it 90th on the national GDP rankings (about where Jordan is).
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Mike Shamrock said
MY conclusion: Apple should ...MY conclusion: Apple should buy Jordan and make it their own Silicon Valley! :)
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strawberry_shisha said
/-a-t-/mike, maybe Qatar will .../-a-t-/mike, maybe Qatar will buy both :)
As we all know that Qatar is famous for its investment for grandiose and expensive things. It buys stakes in luxury goods businesses.
Report has it that Sheika Moza firm's Qatar Luxury Group (on behalf of the Qatari royal family) is behind on the whooping and jaw-dropping £27m worth of investment in luxury handbag and accessories manufacturer Anya Hindmarch, Italian fashion house Valentino for €700m ($857.5m) last month and etc..etc..
"Well Behaved Women Rarely Make History" ~ Laurel Thatcher Ulrich
Bachus said
It would take Qatar's entire ...It would take Qatar's entire GDP about five years to buy Apple, which is roughly worth .5 trillion dollars. That means Qatar not spending a penny on schools, roads, salaries, defense, investment, etc. for five years. Based on what Qatar realistically invests a year i foreign assets, it would take about half a century to buy Apple.
It's a whole different scale of economies.
Prism said
Awesome...when transalted ...Awesome...when translated into figures, Apple looks sooooooooooooo BIG...:)
"If you do not want your enemies to know the facts, take care that your friends do not know them"- Machiavelli
Good old joe said
Yeah ...Yeah and if only a few of the so called super rich could spend a little and do a little to uplift the ones who dont have much of their own then Qatar asnd the world in general would be a better place
Mike Shamrock said
Good point Bachus, being the ...Good point Bachus, being the richest nation (measured per capita) does not mean you are the most powerful overall!
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Bachus said
I agree Joe. Bill Gates has ...I agree Joe. Bill Gates has long said he would give all his wealth to charity--and since then he has been doing exactly that.
http://en.wikipedia....
The second wealthiest man in the US, Warren Buffet, announced years ago that he would do the same upon his death. In fact, he announced that he would be giving it to the Gates Foundation, because he said he felt they would spend it wisely.
Both have advocated publicly in favor of higher taxes for the rich and for the re-introduction of high inheritance taxes in the US. They have also been critical of other super-rich people outside of the US (who tend to give far less to charity), and challenged them to donate sizable portions of their assets.
If the superwealthy of Asia, Africa, and South America would donate more to their own people, the world would indeed be a much better place.
LincolnPirate said
If Bill Gates gave all of his ...If Bill Gates gave all of his 50 billion to one billion people, Bachus, each would get 50 dollar and then the money was gone. The problem is not that few have a lot, the problem is that many have so little, too many, to be precise.
Physics is like sex. Sometimes we get some practical results, but that's not why we're doing it!
Bachus said
True. Bill Gates cannot do ...True. Bill Gates cannot do enough on his own, but he can lead by example.
IlikeQL said
Remmitence from Gulf to India ...Remmitence from Gulf to India is highest.
Qatar is doing more charity than Bill Gate.
painther said
remittance is not charity ! ...remittance is not charity !
Bachus said
The fact that IlikeQL thinks ...The fact that IlikeQL thinks that remittence is charity says it all and underlines my point a hundred times. LOL.
stealth said
I dont know how far all these ...I dont know how far all these are true, but this is just a look at Gates foundations activities.
http://techrights.or...
Some of their philanthropic activities have been pretty controversial.