New York/Princeton/Johannesburg — The richest people on earth became $1-trillion richer in 2017, more than four times last year’s gain, as stock markets shrugged off economic, social and political divisions to reach record highs. Losers included Christo Wiese, who was one of Africa’s richest people. But in 2017, the former chairman of scandal-hit Steinhoff International, lost more wealth than the GDP of at least 13 of the continent’s countries. The billionaire is the biggest shareholder in the furniture and clothing company, which has plunged more than 90% this month amid accounting irregularities. The 23% increase on the Bloomberg Billionaires Index, a daily ranking of the world’s 500 richest people, compares with an almost 20% increase for both the MSCI World Index and Standard & Poor’s 500 Index. Amazon.com founder Jeff Bezos added the most in 2017, a $34.2bn gain that knocked Microsoft co-founder Bill Gates out of his spot as the world’s richest person in October. Gates, 62, had...
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