Despite all the volatility and uncertainty of 2016, it was still a pretty good year for investors--for some, though, it was a very good year. We consulted Bloomberg’s real-time wealth tracker, Bloomberg Billionaires, for the latest on who added to the most lucre to their fortunes since last January. While number one will not surprise you, the others just might.
Here, a recap of the year through the lens of whose staggering personal wealth got even more staggering. File this one under “the rate of return on capital exceeds the rate of economic growth,” 2016 edition.
1. Warren Buffett, +$11.8 billion
The legendary investor finished the year as only the second-richest person on earth, by Bloomberg’s estimates, but the world's most famous investor saw the biggest gains of anyone of 2016, closing out the year with his total up $11.8 billion--an 19% boost since this time in 2015 (which was, admittedly, not Buffett's best). However, 2016 was also the year we learned the of Omaha's oracular powers do not extend to predicting election results.
2. Bill Gates, +$9.8 billion
Maintaining his position as world’s richest human for the fourth year running (he wrested the title in May 2013), Gates' fortune got a solid $9.8 billion bump this year, representing a total gain of 12% since 2015. The co-founder--who just launched a new clean energy venture fund this month--won't have to resort to raising chickens after all.
3. Harold Hamm, +8.4 billion
It was truly a banner year for the Continental Resources CEO. Though the fracking pioneer didn't quite break the top 50 in terms of overall wealth this year (he’s at number 53, per Bloomberg), Hamm came in number one in terms of percentage gains by a veritable landslide: the Oklahoma oil magnate, until recently a potential pick for Trump's Energy Secretary, saw his net worth rise by a whopping 121.5%. Part of that is thanks to November's OPEC deal, in which the organization agreed to cut output. After the announcement, Hamm made $3 billion in three hours.
4 – 7. Most of the Mars Family, +7.9 billion
(Included: Marijke Mars, Valerie Mars, Pam Wright-Mars, and Victoria Mars. Not included: John Mars and Jacqueline Mars, who both had losses.)
Owners of the largest candy company in the world, the Marses are known both for their intense secrecy (as a rule, they do not give interviews) and their intense wealth (third on Forbes' list of America's richest families). After the former Mars Company co-president Forrest E. Mars, Jr. died in July of this year, his 33% stake in the company was evenly divided amongst his four daughters, making Marijke Mars, Valerie Mars, Pam Wright-Mars, and Victoria Mars some of the biggest financial gains of 2016: all four saw an increase of $7.9 billion, bringing their individual net worths--according to Bloomberg--up to $7.9 billion. (All four have worked in the family business.)