Shipping tycoons miss out on global gains

Time: 2016-12-30 14:00
World's richest people enjoyed a fruitful 2016 but leading maritime figures saw their net worth fall, Bloomberg data shows.

Shipping’s richest people missed the boat this year as the world’s billionaires saw their wealth shoot up.

Bloomberg’s Billionaire’s Index shows that the combined wealth of the planet’s richest people grew by $237bn during 2016, riding out the volatility experienced during the year.

However, it was a different story for shipping staples on Bloomberg’s table, with top 200 ranked John Fredriksen, Li Ka-Shing and Robert Kuok seeing their net worth decline.

Fredriksen, the world’s 122nd richest man, finished 2016 with a net worth of $9.9bn.

This is down by $1.3bn over the past 12 months, Bloomberg’s live Billionaire’s list shows.

Port tycoon Li, ranked 22nd overall, has $28.5bn to his name at the close of 2016. It has seen a 4.7% drop during the course of the year.
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