Bloomberg has started publishing a daily ranking of the world’s 20 richest people in an effort to keep track of wealth creation round the world, competing directly with Forbes’ well-known list. The new rich list, announced late on Sunday, is another effort by the private financial news and data company to use its substantial data to create new products and enter new markets. The list will be available free online.

There are discrepancies between the way the two lists are calculated. Ikea founder Ingvar Kamprad ranks fourth on the Bloomberg list, with an estimated net worth of $42.5bn, while ranking 162nd on the Forbes list with an estimated net worth of $6bn.                          –FT