Planet Earth has a record number of billionaires as a rich list recorded the "largest concentration of wealth ever". There are now 3,428 entrepreneurs, investors and heirs in this year's Forbes World’s Billionaires list.
Elon Musk topped the list for the second year in a row with astaggering net worth of $839 billion– three times the fortune of second-placed Larry Page. A record 20 people now have anet worthover $100 billion, up 15 from last year.
There are390 new-born billionaires thisyear with Beyoncé Knowles-Carter, Dr. Dre and Roger Federer to name a few. US President Donald Trump's net worth shot up by 27% to a healthy $6.5 billion, placing him 645 globally.
Elon Musk topped the list for the second year in a row(Image: Getty Images)
The US has the highest concentration of billionaires with 989 – including 15 of the top 20 – as China and Hong Kong rank second with 610 while India is a distant third with 229. The top five are all located in the United States and work in tech.
The explosion in Artificial Intelligence (AI) and supportive fiscal policies were cited as the reason for the richest people on Earth becoming exorbitantly wealthier.
Last year, a damning report stated that HM Revenue and Customs (HMRC) bosses could not provide data on how many billionaires pay tax in the UK.
Dr Dre is a billionaire(Image: Getty Images)
The Public Accounts Committee (PAC) said that HMRC “can and must” do more to understand and explain the contribution that the very wealthiest in society make to tax revenue - and to make sure the system was fair.
In the report it states: “HMRC does not know how many billionaires pay tax in the UK or how much they contribute overall.”
Source: Drudge Report
