New Delhi, Feb 13: Ever imagined if our country’s richest person has to run the government and for how many days they will be able to do so. Well to add more to your curiosity, India’s richest person Mukesh Ambani can run government only for 20 days. Yes you read it correctly.
Bloomberg politics have created an index to see how many days governments can keep running if the richest person from each country pays for governments’ expenditure. The index took into assessment the wealth of 49 richest individuals of the world, each with differing nationality, and compared it to the per day expenditure cost incurred by the respective governments of their nations.
The wealth of the richest individuals was based upon an estimate of their net-worth by December-end 2017. The Bloomberg Billionaires Index and the International Monetary Fund’s statistics were used as the fundamental elements for the research.
The Indian government, with Mukesh Ambani’s net worth of $40.3 billion would last 20 days. India ranks better than Netherlands, France, Russia, Brazil, Australia, Norway, and Finland among others, but falls immediately short of Israel, Taiwan, and South Korea’s 21, 22, and 23 days. While China can keeps its government running only for four days.
Li-Ka Shing of Hong Kong, with net worth of $34.7 billion, could sustain the expenditure of Hong Kong for 191 days. Italy’s Giovanni Ferraro & Family ($24.5 billion) could run the government for a total of 9 days. France’s Bernard Arnault, with total net worth of $63.5 billion, could sustain the government’s expenditure for 15 days.
While Cyprus’s richest man, John Fredriksen, could keep his government running for 441 days. With projected 2018 expenditures of $23.6 million, a small population and therefore smaller costs on social security and welfare, advantageous tax policies and an economy centered around tourism and services, Cyprus would benefit the longest from Fredriksen’s $10 billion fortune.