OLD Media Moves

Bloomberg enters billionaire rankings business

March 4, 2012

Posted by Chris Roush

Bloomberg News introduced its new ranking of the world’s richest people on Sunday with the release of its Bloomberg Billionaires Index, a daily ranking of the world’s 20 wealthiest individuals.

The release comes just about a week before rival Forbes magazine is slated to release its annual list of the world’s billionaires, estimated at approximately 1,200 individuals. Bloomberg’s list will be updated daily.

Matthew Miller and Peter Newcomb of Bloomberg News write, “The Bloomberg Billionaires Index takes measure of the world’s wealthiest people based on market and economic changes and Bloomberg News reporting. Each net worth figure is updated every business day at 5:30 p.m. in New York. The valuations are listed in U.S. dollars.

“Today’s ranking was published with the release of new billionaires profile pages in the Bloomberg Professional service. The profiles feature a transparent analysis of how each billionaire’s fortune was calculated.”

Read more here. Here is an explanation of how Bloomberg calculates its rankings.

Miller, Newcomb and Rob LaFranco of Bloomberg News explain the rankings here.

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