Politics

Bloomberg Adds $5 Billion to Fortune, Jumps Up Forbes’ Billionaire List

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Mayor Bloomberg might be moving out of City Hall next year, but financially, he has never been better.

Forbes magazine’s annual ranking listed the 71-year old New York City mayor as the world’s 13th richest person. Last year he ranked in the 20th spot. In just one year Bloomberg has added $5 billion to his name, bringing his total net worth to about $27 billion, according to Forbes.

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The world’s wealthiest man is Carlos Slim Helu, a Mexican business magnate. The Forbes top 20 list also includes Bill Gates, Warren Buffett, the Koch brothers and members of the Wal-Mart empire.

Proving that politics is a rich man’s game, one contender to replace Bloomberg’s mayoral position also made the Forbes’ list: John Catsimatidis, Gristedes owner and Republican candidate, ranked at number 468 with a net-worth of $3 billion.

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Men are not the only ones getting richer: Forbes’ list showed gains among wealthy women as well. A total of 138 women made the list, thirty-four more than last year. Liliane Bettencourt, L’Oreal heiress, is the world’s wealthiest woman. The 90-year-old French woman holds the 9th ranking, with a net-worth of $30 billion dollars.

This year 210 new billionaires placed on the annual list. In fact, Forbes reported that a record 1,426 billionaires made its ranking, an increase from 1,226 in 2012. The report comes at an eerie time; just this week, a Youtube video went viral outlining the incredible wealth inequality in America.

The U.S. median household income stands at $51,584, says the Household Income Index.

Mayor Bloomberg’s sudden monetary growth came from a strong performance by Bloomberg LP, the financial service he partially owns. The company’s revenue saw a 4.5 percent increase in 2012.

Bloomberg plans to use his wealth to maintain politically relevant and specifically, to fight gun violence. The mayor spent over $2 million in February to engineer a campaign against former Rep. Debbie Halvorson, a pro-gun congressional candidate in Illinois. A Republican-turned-Independent, Bloomberg’s spending plans for the 2014 congressional races remain unknown. He will, however, continue his philanthropic work. In January 2013, Bloomberg pledged $350 to his alma mater, John Hopkins University, and just last week he announced a $100 million donation to fight polio worldwide.

(New York Daily News)