At least one journalist thinks the claim is ‘ludicrous’ and picks apart the charitable organization’s numbers.
Using the start date Oxfam uses for calculating Gates’ wealth growth rate, 2006, when he left Microsoft, the organization notes that the computer whiz’s wealth rose 50 percent or by $25billion in 2016.
That’s a four percent rate of return, compounded, not 11 percent, says Tim Worstall, a Forbes contributor.
Using the same rate of return, and assuming Gates doesn’t do something like suddenly give away most of his fortune, and using the same start date of 2006 when Gates was worth a mere $50billion, that means in 25 years, he would be worth $133billion.
I’m so proud…..