Davos Billionaires See Wealth Gains on 2014 Stocks Rally

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http://www.bloomberg.com/news/2014-01-21/davos-billionaires-see-wealth-gains-on-2014-stocks-rally.html


Bottles of Schlumberger white and rose sparkling wine sit in a bowl of ice at the igloo

Billionaires attending the World Economic Forum’s annual meeting this week in Davos, Switzerland, expect to be richer when they return to the Alpine village next year.

About a half-dozen of the wealthiest participants, including Aliko Dangote, Africa’s richest person, and Irish telecommunications mogul Denis O’Brien, said stocks will rise, interest rates will remain low and they’d avoid investing in the virtual currency Bitcoin in 2014.

“The bull market will continue, we’ve actually turned the corner,” Dangote said in an interview at the forum’s Congress Centre last night. “I believe it’s going to be a whole new ballgame. Things are improving in all sectors: in banking, in vehicle manufacturing, almost all the sectors. And I think we’ve left the bad past behind.”

Dangote is one of at least 80 billionaires joining more than 2,500 business and political leaders in Davos this week, according to a list of attendees and promotional materials obtained by Bloomberg News.