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The last financial week was a big one for the most richest people in the world because of the worse than forecast corporate earnings in the U.S. They added to their treasure no less than a collective $12.7 billion.
Here are the most important gains of the week.
The richest man in the world with around $77.6 billion, mexican Carlos Slim gained no less than $1.8 billion.His company America Movil (AMXL) SAB it will begin to offer high speed Internet service in a package with no need to add a phone to it.
Jack Ablin, the chief of investment at BMO Harris Private Bank fro Chicago (with over $60 billion of assests) said: “These disappointing earnings announcements are finally weighing on investors.”
This is the biggest down since June and the factors are the results with missed estimates posted by McDonald’s Corp. (MCD), General Electric Co. (GE) and Microsoft Corp.(MSFT) and also because of the leaders from the euro-area which at the European Union summit from Brussels failed to discuss the aid for Spain.
The second richest man in the world with $64 billion, Bill Gates which is the Microsoft co-founder saw the biggest software maker net income for the first fiscal quarter at the point of 53 cents a share which means that they missed their estimated 56 cents.
The third richest man in the world, Amancio Ortega from Europe with a fortune of $52.4 billion has gained no less than $17 billion this year from the largest clothing retailer in the world.He is also the owner of Zara clothing.
The founders of Google Inc. (GOOG), Sergey Brin and Larry Page were down with a combined $3.2 billion after the last third quarter results. The Google shares have droped around 11% and this has erased around $22 billion from its market capitalization.
Now Google’s sales and also the profit are under high pressure because the world’s largest search engine is hardly trying to take more and more dollars from the people who surf the Web on smartphones and tablets.