Top Ten Richest People In The World

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Top Ten Richest People In The World

Top Ten Richest People In The World

Billionaires play an outsized role in shaping the global economy, politics, and philanthropy. Forbes puts the number of billionaires in the world at 2,755. The wealthiest among them belong to an even more exclusive club and wield still more power. Many of these billionaires are founders of technology giants, with much of their wealth still invested in the companies they started.

They can, however, still borrow against that wealth to avoid selling stock, deferring (or eliminating for heirs) taxes on unrealized capital gains in the process. Multi-billionaires can also take advantage of a panoply of tax deductions to offset reported income, leaving some on this list paying no income tax in recent years.

 

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With so much of their wealth in publicly traded stocks, the net worth of the richest can fluctuate with market valuations. For example, Elon Musk, founder and CEO of Tesla Inc. (TSLA) and the richest person in the world as of Feb. 12, 2022, saw his net worth surge in 2021 thanks to the increase in the share price of Tesla (where he currently owns 18% of the company)—with Tesla shares rising more than 32% in 2021.

In contrast, Meta Platforms Inc. (FB) founder and CEO Mark Zuckerberg fell out of the top 10 on Feb. 3, 2022, when Meta's share price plunged 26% after a disappointing earnings report. Zuckerberg's net worth was down $42.4 billion, or 34%, in 2022 as of Feb. 12. Below are the 10 wealthiest people on the planet as of the same date, according to the Bloomberg Billionaires Index.

The World's Billionaires is an annual ranking by documented net worth of the wealthiest billionaires in the world, compiled and published in March annually by the American business magazine Forbes. The list was first published in March 1987.

The total net worth of each individual on the list is estimated and is cited in United States dollars, based on their documented assets and accounting for debt and other factors. Royalty and dictators whose wealth comes from their positions are excluded from these lists. This ranking is an index of the wealthiest documented individuals, excluding any ranking of those with wealth that is not able to be completely ascertained.

The 10 richest men in the world have seen their global wealth double to $1.5tn (£1.01tn) since the start of the global pandemic following a surge in share and property prices that has widened the gap between rich and poor, according to a report from Oxfam.

Urging governments to impose a one-off 99% wealth tax on Covid-19 windfall gains, the charity said World Bank figures showed 163 million more people had been driven below the poverty line while the super-rich was benefiting from the stimulus provided by governments around the world to mitigate the impact of the virus.

Elon Musk

Elon Musk

Elon Musk is the richest person on this list with a net worth of $20.1 billion, which includes SpaceX and Tesla. The 45-year-old South African-born American entrepreneur made real estate his first investment in 2002, but he is most famous for creating PayPal, Tesla Motors, and SpaceX.

Elon Musk, the CEO of Tesla and founder of SpaceX, is at the top of our list with a net worth of $22.7 billion. Musk first made his fortune investing in PayPal (now part of eBay), before founding SpaceX and then Tesla.

SpaceX has now launched more than 40 missions to date and is contracted to launch 4 more by year’s end, including the first commercial satellite-delivered payload for Arabsat this December. He also co-founded OpenAI, a nonprofit that uses AI technology to help solve some of humanity’s biggest problems.

Elon Musk is one of the top billionaires in the world. He is the CEO of Tesla Motors and SpaceX and was a co-founder of PayPal. In 2012, Musk was estimated to be worth $12.6 billion, making him the 15th richest person in the world.

Jeff Bezos

Jeff Bezos

Jeff Bezos is the richest person in the world, with his wealth estimated at $142 billion. He started Amazon in 1994 and has since expanded into other ventures, including Blue Origin and The Washington Post. Bezos is also married to a woman with an estimated net worth of $36 billion.

Jeff Bezos is the wealthiest person in the world and the founder of Amazon. Jeff Bezos was born in 1964 to Jacklyn Gise and Ted Jorgensen. He built his first computer from a kit, then taught himself programming at age 13 and sold his first program for $500.

 

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He later dropped out of college to join a start-up that eventually became a division of Macmillan publishing company and took an online job selling books. According to Forbes, as of 2016, he is estimated to have been worth 3 billion dollars which makes him the second richest person on the planet.

Jeff Bezos is the richest person in the world with a net worth of $112 billion. He founded Amazon.com in 1994 as an online bookstore and has since grown it into one of the leading retailers with a market cap of $673 billion. In 2018, his wealth grew by about $1 billion due to Amazon's stock price increased by about 25 percent, Forbes reports.

Bernard Arnault

Bernard Arnault

Bernard Arnault is the richest man in France and the 6th wealthiest person in the world. Bernard Arnault is a French businessman, investor, and philanthropist. He is the Chairman and Chief Executive Officer of LVMH Moet Hennessy Louis Vuitton SE. His net worth is $53 billion, making him one of only two people with a net worth of over $30 billion in Europe, behind Amancio Ortega Gaona.

He started his career as an industrial designer at Christian Dior SA before moving to Louis Vuitton in 1966 as its artistic director. In 1987 he took control of LVMH and merged it with Christian Dior. He has since built one of the world's largest luxury groups focusing on fashion houses and wines (see: Bernard Arnault wine list).

In 1989 he was named “Person of Cultural Interest” by the French government. In 1996, he was awarded the Legion d'honneur for his work as an art collector. In 2007, he received Japan's Order of Culture award from Emperor Akihito for his contribution to French-Japanese relations.

Bernard Arnault is the richest man in France, and he has a net worth of $48.2 billion. He has family members who work for LVMH, which gives him access to a vast fortune that includes luxury goods, fashion and fashion houses like Louis Vuitton, Christian Dior and Fendi. The company also owns brands such as Moet & Chandon, Hennessy cognac, Dom Perignon champagne and a host of other companies.

Bill Gates

Bill Gates

Bill Gates is the richest person in the world, with a net worth of $86 billion. He was born in 1955 and started Microsoft when he was just 19-years-old. Gates has already pledged to donate most of his fortune to charity, which leaves him with $10 billion left for personal use.

Bill Gates is a Microsoft co-founder, the richest person in the world, and the third richest American ever. With a net worth of $90 billion in 2018, he is #1 on Forbes's list of billionaires.

 

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Gates has a net worth of $98.2 billion as of January 2018. At the time of founding Microsoft, Gates was 28 years old, making him the youngest self-made billionaire ever. He is also the richest American who is alive today and one of only two Americans to hold a fortune in excess of 100 billion dollars.

Although he retired from his day-to-day duties as CEO in 2008, Gates remains at Microsoft on its board of directors and continues to fund philanthropic efforts through the Bill & Melinda Gates Foundation.

Larry Page

Larry Page

Larry Page, the co-founder of Google and Stanford University graduate, has a net worth of $50.2 billion. He is the ninth-richest person in the world as of 2018. Page and Sergey Brin, his partner at Google, are among the co-founders of Alphabet Inc., which is tied for first with Apple Inc. as the most valuable company in the world and became a publicly-traded company in 2015 after its initial public offering (IPO) and secondary offering on Nasdaq. The page has been named to TIME magazine's list of 100 Most Influential People twice: once in 2007 and again in 2008.

Warren Buffett

Warren Buffett

Warren Buffett is the richest person in the world. In 2010, his net worth was estimated at $44 billion. Buffett has been a long-time investor and holds shares in American Express, Coca-Cola, Wells Fargo and more than 80 other companies. He is also a philanthropic billionaire with the Giving Pledge, which he joined in 2010 along with Bill Gates, Mark Zuckerberg, Michael Bloomberg and many others who have pledged to give away at least half of their fortunes to charity.

Warren Buffett is an American business magnate, investor, and philanthropist. He is one of the most successful investors in history. He has been ranked as the world's richest person for decades. Buffett is also one of the most respected people in America and has a net worth of over $84 billion.

Though he does not control a company directly, Buffett is considered the most influential businessman and his opinions carry great weight with politicians. Since 2009, he has given away $32.5 billion to philanthropic causes through The Giving Pledge.

Sergey Brin

Sergey Brin

Sergey Brin co-founded Google in 1998, with Larry Page. His net worth is $38.2 billion. States with his family in 1979, two years later. He became a U.S. citizen in 2000 and graduated from the University of Maryland with a degree in computer science and math. From there, he went on to work at Stanford University as a postdoctoral fellow while still holding his day job at an Internet company called Sun Microsystems.

In 1998, Brin and Page founded Google, which quickly came to dominate the search engine market through innovations like its cloud computing infrastructure and AdWords advertising program. The company also created Android software for mobile devices in 2008, which helped make affordable smartphones possible.

Brin serves on the board of directors for Google's parent corporation Alphabet Inc., as well as for Elon Musk's SpaceX venture capital fund and Tesla Motors Inc., which specializes in electric cars.

He also has several philanthropic endeavours under his belt including Google X (Google X is an independent research laboratory), Google Lunar X Prize, Dstillery LLC (a San Francisco-based startup incubator), Project Loon (a project that aims to provide internet access to people in remote locations).

Steve Ballmer

Steve Ballmer

Steve Ballmer is the former CEO of Microsoft and the current owner of the Los Angeles Clippers professional basketball team. He began his career in 1980 as a graduate student at Stanford University, where he studied computer science and graduated with a master's degree in business administration.

Larry Ellison

Larry Ellison

  • Net worth: $54.2 billion
  • Born: August 17, 1944
  • Current residence: Cayman Islands

Ellison is the founder and CEO of Oracle Corporation and a former co-CEO of Silicon Graphics. He has an estimated net worth of $54.2 billion, making him the 3rd richest person in the world according to Forbes.

Larry Ellison is the co-founder and CEO of Oracle Corporation, which is a database management company. He has been described as “the world's fourth-richest man” by Forbes and the ninth wealthiest person in the world by Bloomberg. With an estimated net worth of $54 billion, he has been called one of the most successful entrepreneurs in history.

Ellison was born in New York City in April 1941 to Jewish parents from Poland. His father had an unsuccessful jewelry business and worked as a haberdasher before opening a dry goods store with little success.

As a young boy, Ellison was constantly running out of money for sneakers because his dad would always buy cheaper brands thinking that his son would grow into them faster. This experience taught him how to make hard choices about what to spend which led him to become a shrewd businessman later in life when he founded Oracle Corporation in 1977 with Bob Miner, who became his business partner.

Mukesh Ambani

Mukesh Ambani

Mukesh Ambani, the son of a trade firm clerk, was born in British-controlled Yemen. Dhirubhai Ambani, his father, returned to India the next year, residing in a two-room Mumbai flat with his family and starting a spice trading company. Dhirubhai Ambani established his first textile factory in 1966, and his firm, Reliance Industries, was launched on the Mumbai stock market in 1977, attracting a huge and loyal shareholder base.

Mukesh Ambani graduated from the University of Mumbai with a degree in chemical engineering. Since 1977, he has been a member of Reliance's board of directors. Mukesh Ambani enrolled at Stanford University in 1979 to pursue a master's degree in business administration but dropped out in 1981 without receiving a diploma. He returned to India to manage Reliance's development into petrochemicals, oil refining, and oil and gas drilling.

 

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After Dhirubhai Ambani died of a stroke in 2002, Mukesh Ambani and his brother Anil took over as joint CEOs of Reliance Industries. While the brothers struggled for control, their mother mediated a 2005 agreement that divided the firm in half, with Mukesh keeping the refining, petrochemicals, oil and gas, and textile activities and Anil's group getting the telecom, electricity, entertainment, and financial services assets.

The fighting lasted until 2010 when the brothers resolved a court battle over natural gas and dissolved the 2005 settlement's non-compete restrictions. With the first contract involving subsidiaries of their separate enterprises, a $220 million arrangement to share a fiberoptic network, Mukesh and Anil Ambani seemed to have buried the hatchet in 2013.

Reliance Industries has grown into retail and telecoms under Mukesh Ambani's leadership. In 2007, he was declared the world's wealthiest man by two Indian magazines. Ambani is a member of the World Economic Forum's board of directors. On behalf of his firm, he established the Reliance Foundation in 2010 to support rural development, health, and education.

Conclusion

The richest people in the world have a lot of money, but they also have a lot of time to spend it. They are obsessed with making money and they don’t care how they do it. In order to become a billionaire, you must be willing to work very hard and make sacrifices in order to get what you want.

The top ten richest people in the world are the best of the best in terms of wealth, with their net worth ranging from $61.7 billion to $66.9 billion. These people have control over their own companies and can use their vast wealth to make a positive impact on the world.

You may need to become a technical inventor or a luxury retail genius if you want to move a bit closer to joining the list of the world's wealthiest billionaires. You might also keep things simple and concentrate on value investing.

It also helps if you were born into a wealthy family. The biggest fortunes on this list, on the other hand, began with brilliant ideas that were implemented by individuals with creativity, determination, and connections to create some of the world's largest corporations.

I trust you enjoyed this article on the Top Ten Richest People In The World. Would you please stay tuned for more articles to come? Take care!

JeannetteZ

 

 

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