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Big headache for many of richest in the world

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(iStock)
(iStock)

Johannesburg - Lorenzo Servitje Sendra was the oldest person on the Bloomberg Billionaires Index when he died last month with a $4.2bn fortune.

Thinking ahead, the Mexican billionaire had already transferred his stake in Grupo Bimbo, the world’s largest breadmaker, to his heirs, enabling them to sidestep what amounts to a $2.1trn headache for the wealthy.

That’s the total net worth — roughly equal to the gross domestic product of India — controlled by the 218 billionaires over age 70 on the Bloomberg index, a daily ranking of the world’s 500 richest people.

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