News | March 12, 2012

Bloomberg Launches Method To Index Billionaires

News | March 12, 2012

By Julia Jacobo

You no longer have to wait for the Forbes list to come out every year to brush up on the latest on your favorite billionaires.

Bloomberg has created a way to index billionaires, a new feature that measures the total worth of billionaires around the world on a daily basis- at 5:30 p.m. every day to be exact. The index considers factors like stock market changes, economic indicators and the news of the day.

The Bloomberg Billionaires Index was launched Sunday. Mexican telecommunications king Carlos Slim topped the inaugural index with his net worth of $68.5 billion and Bill Gates took the second spot with $62,4 million. Warren Buffet came third, and interestingly Slim and Gates took the top spots despite the their huge losses of $478 million and $102 million, respectively.