After lying low for a time, Adelson this year reached a deal to buy a $3.5 billion majority stake in the Dallas Mavericks and courted Republican presidential candidate Nikki Haley. The new ranking marks a step down for Bezos, who was No. 1 on the 2021 list. Buffett has said he believes America’s wealthiest should pay more in taxes. There are almost 30,000 families in the U.S. with assets of more than $100 million, Buffett’s among them.
The Tesla co-founder, who this year changed his title from CEO to „Technoking of Tesla” in a March regulatory filing, has enjoyed a massive wealth increase thanks to the rapid growth of his electric automaker. Tesla shares are up about 60% this year, and the company hit a $1 trillion market cap for the first time in October. As the heir to the L’Oréal fortune, Bettencourt Meyers, 70, is the richest woman on the planet and the first to possess a 12-figure net worth. Bettencourt Meyers’ success comes as a result of France’s thriving beauty and fashion industries, which have also thrust LVMH’s Arnault, Chanel’s Wertheimer brothers and the Hermès family into the realm of the ultrawealthy. Her fortune surged 40% this year as L’Oréal’s shares climbed to a record high.
- His net worth is now more than $50 billion above Arnault’s after a global slowdown in demand for luxury goods dented shares of LVMH Moet Hennessy Louis Vuitton SE.
- Her net worth is derived from her holdings in L’Oréal, the world’s largest cosmetics company.
- Arnault remained Férinel’s chair for another six years, until he acquired and reorganized luxury goods maker Financière Agache in 1984, eventually selling all its holdings other than Christian Dior and Le Bon Marché.
- 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.
- The former president and current candidate may have lost the 2020 election, but his wallet has only gained.
- To calculate net worths, we used stock prices and exchange rates from March 10, 2023.
China had 319 (not including Hong Kong, Taiwan or Macau), Germany had 114, and India had the fourth most with 101; India reached over 100 billionaires for its first time. War, pandemic and sluggish markets hit the world’s billionaires this year. There are 2,668 of them on Forbes’ 36th-annual ranking of the planet’s richest people—87 fewer than a year ago. They’re worth a collective $12.7 trillion—$400 billion less than in 2021. No one did better than Elon Musk, who recaptured the title of world’s richest person from French luxury tycoon Bernard Arnault.
Bettencourt Meyers is the granddaughter of the founder of L’Oreal and as the richest woman in the world has a worth of $73.6 billion. We used stock prices and exchange rates from March 11, 2022 to calculate net worths. Most of Arnault’s wealth comes from his massive stake in Christian Dior SE, the holding company that controls 41.4% of LVMH. His shares in Christian Dior SE, plus an additional 6.2% in LVMH, are held through his family-owned holding company, Groupe Familial Arnault.
#76 Rupert Murdoch & family
„Musk has mostly tweeted himself out of the top spot on the ranks,” Forbes said, noting Tesla stock’s 50% decline since Musk’s $44 billion acquisition of Twitter in April 2022. Arnault, who co-founded LVMH in 1987, has overseen an increase in revenue and profits, which has added $53 billion to his fortune over the last year, according to Forbes 25 Richest People in the World, released this week. LVMH added Tiffany & Co. to its portfolio in 2020 and officially closed the deal in January 2021. Gates has long since given up the reins at Microsoft and spends most of his time with his charitable foundation. In 2021, Gates also divorced his wife Melinda French Gates after 25 years of marriage. Cuban, 65, has a knack for getting out at the right time, selling his radio-streaming website Broadcast.com shortly before the dot-com bubble burst.
He agreed to step down as CEO and personally pay a $50 million fine in addition to the $4.3 billion Binance will have to fork over. Still, the rebound in crypto boosted CZ’s wealth by nearly $25 billion this year, even as he may be headed to jail in 2024. The 92-year-old News Corp. founder has officially retired, ceding control to his son, Lachlan.
A newly proposed tax would also hit America’s roughly 700 billionaires; these households would be subject to a new minimum tax of 20%, ensuring they don’t pay lower tax rates than many lower- and middle-income Americans. He now spends most of his time minding his Los Angeles basketball team. In April 2022, Ballmer’s Los Angeles landmark Forum Sports and Entertainment Arena in Inglewood got a new name, Kia Forum.
An engineer by training, Arnault first showed his business acumen while working for his father’s construction firm, Ferret-Savinel, taking charge of the company in 1971. He converted Ferret-Savinel to a real estate company named Férinel Inc. in 1979. In 2004, Musk became a major funder of Tesla Motors (now Tesla), which led to his current position as CEO of the electric vehicle company. In addition to its line of electric automobiles, Tesla produces energy storage devices, automobile accessories, and, through its acquisition of SolarCity in 2016, solar power systems.
Arnault oversees France-based fashion empire LVMH, which includes brands like Louis Vuitton and Sephora. As a result of the market crash caused by the Dot-com bubble, 83 billionaires dropped off the list from the previous year. Oracle is the world’s second-largest software company, providing a wide variety of cloud computing programs as well as Java and Linux code and the Oracle Exadata computing platform.
The world’s richest people gained $1.5 trillion in 2023—and Elon Musk led the way despite woes at X
He was invited to invest in LVMH in 1987 and became the majority shareholder, chair of the board, and CEO of the company two years later. Billionaires play an outsized role in shaping the global economy, politics, and philanthropy. The wealthiest among them is Elon Musk; CEO of Tesla and SpaceX, and owner of X (formerly Twitter). Elon Musk, founder of Tesla and SpaceX, top 100 richest people in the world last year topped Forbes’ annual list of the 25 Richest People in the World, but saw his fortune decline by $39 billion, from $219 billion last year to $180 billion. In many ways it was a rough year for the 46-year-old founder of Binance, the world’s biggest crypto exchange. In November, CZ and Binance pleaded guilty to money laundering and US sanctions violations.
#119 Charlene de Carvalho-Heineken & family
Musk is also CEO and chief engineer of Space Exploration Technologies (SpaceX), a developer of space launch rockets. He was born in South Africa and attended a university in Canada before transferring to the University of Pennsylvania, where he earned bachelor’s degrees in physics and economics. Two days after enrolling in a graduate physics program at Stanford University, Musk deferred attendance to launch Zip2, one of the earliest online navigation services. He reinvested a portion of the proceeds from this startup to create X.com, the online payment system that was sold to eBay (EBAY) and ultimately became PayPal Holdings (PYPL).
Below are the 10 wealthiest people on the planet, according to the Bloomberg Billionaires Index. Once again, their fortunes were closely correlated to the performance of tech stocks, which rose to fresh records this year despite recession fears, lingering inflation, lofty interest rates and geopolitical turmoil. Tech billionaires saw their wealth grow by 48% or $658 billion, propelled by intense hype around artificial intelligence. Every year, Forbes attempts to quantify and rank the world’s richest people with its annual billionaires list.
The database program proved so popular that SDL changed its name to Oracle Systems Corporation in 1982. The most famous living value investor, Warren Buffett filed his first tax return in 1944 at age 14, declaring earnings from his boyhood paper route. He first bought shares in a textile company called Berkshire Hathaway in 1962, becoming the majority shareholder by 1965. Buffett expanded the company’s holdings to insurance and other investments in 1967. Cascade is a privately-held investment vehicle that owns a variety of stocks including Canadian National Railway (CNR), Deere (DE), and Republic Services (RSG), as well as private investments in real estate and energy. Arnault remained Férinel’s chair for another six years, until he acquired and reorganized luxury goods maker Financière Agache in 1984, eventually selling all its holdings other than Christian Dior and Le Bon Marché.
And 236 newcomers have become billionaires over the past year—including the first ever from Barbados, Bulgaria, Estonia and Uruguay. Page was among early investors in Planetary Resources, a space exploration and asteroid-mining company. Established in 2009, the company was acquired by blockchain firm ConsenSys in 2018 amid funding problems. He has also shown an interest in flying car companies, investing in both Kitty Hawk and Opener, although Kitty Hawk ceased operations in 2022.
Billionaire Mark Cuban says don’t follow your passions—follow the money and build wealth instead
From there, Page and Brin went on to found Google in 1998, with Page serving as CEO of the company until 2001, and again between 2011 and 2019. Widely known as the Oracle of Omaha, Buffett is a buy-and-hold investor who built his fortune by acquiring undervalued companies. More recently, Berkshire Hathaway has invested in large, well-known companies. Its portfolio of wholly owned subsidiaries includes interests in insurance, energy distribution, and railroads as well as consumer products. Gates shifted from the company’s CEO to the role of board chair in 2008.
The tenth spot goes to Mukesh Ambani, who runs India’s Reliance Industries, which has interests in petrochemicals, oil and gas, telecom and retail. The founders of Google, Sergey Brin and Larry Page, became billionaires at age 30. https://1investing.in/ Facebook founder Mark Zuckerberg, four years after starting the company, joined the list at 23 to become the youngest self-made billionaire. Still, Forbes found more than 1,000 billionaires who are richer than they were a year ago.