Friday, December 2, 2022

Top 10 Richest Person in the World

On the last count, the world had more than 2,755 billionaires with a collective net worth of 13 trillion USD approximately. The number of filthy rich increases each year in a somewhat exponential way. As such, the contrast between rich and poor is getting evident. The top richest people in the world still have about 8% of the total net worth of all the billionaires globally, making it a whopping 1153 billion USD. While commoners struggle to make it big, the billionaires are already living a dream life with luxury at their beck and call. Wonder who is the world’s richest man? Join us to find out.

Top 10 Richest Person in the World

1. Jeff Bezos

Jeff BezosJeff Bezos is the founder of Amazon, which he founded in 1994 in a Seattle garage. The brand, which was initially just a book-selling shop, over time developed into the world’s leading online retailer. Considered as “Earth’s most customer-centric company,” Amazon has diversified its operations, acquired burgeoning brands, and launched an over-the-counter drugstore.

Amazon’s share price manifolded in 2020, thanks to a huge rise in online shopping. Bezos resigned as the CEO on July 5th, 2021, and is currently the executive chair for the company. Amazon was first made public in 1997 and with it, Bezos became the first man after Bill Gates to reach a net worth of more than 100 million USD.

Bezos is also the owner of Blue Origin since 2013, which is an aerospace company. He also owns the 10,000-year clock, “Long Now”. Jeff Bezos is based in Seattle and has a net worth of 177 billion USD, which makes him the world’s richest man. His primary asset is his 11% stake in Amazon, which amounts to 178 billion. His other assets include The Washington Post with private assets worth 250 million USD and Blue Origin with private assets worth 7.15 billion USD.

2. Elon Musk

Elon MuskElon Musk is an eccentric genius and a well-known name globally. He started his entrepreneurship journey with the launch of one of the earliest online navigation services, Zip2. The earnings from this project helped him in starting X.com, an online payment system that later on got recognized as PayPal.

Musk eventually sold both the companies and is currently the CEO and lead designer of SpaceX (Space Exploration Technologies). The company was the third project funded by Musk and solely focuses on accessing affordable space exploration.

Musk founded Tesla Motors in 2004 and eventually rose to the position of CO-founder and CEO of the company. Tesla specializes in electric automobiles, merchandise, energy storage devices, automobile accessories, and even solar power systems since it took over Solar City in 2016.

Tesla rose to its highest stock price with a surge of 705% to become a part of the S&P 500. Musk also founded two more companies, Neuralink and The Boring Company in 2016. One of them deals in researching paralysis, and brain-machine interference so that neurally affected people can interact with mobiles or machines. The other one develops everyday machines like drills and flamethrowers.

With a net worth of 151 billion USD, Musk is the second richest person in the world. A major chunk of his wealth comes from Tesla, which is his primary asset with Ownership stakes worth 125 billion USD. In SpaceX, he has worth 29.8 billion USD of private assets while in The Boring Company, he owns private assets worth 101 million USD.

3. Bernard Arnault

Bernard ArnaultFrench businessman Bernard Arnault is currently the CEO and chairman of LVMH, which is currently the world’s biggest luxury goods company. He owns some of the world’s most recognizable brands like Marc Jacobs, Hennessey, Louis Vuitton, Sephora, etc. Despite this, Bernard’s primary asset is his ownership stake in Christian Dior, valued at 133 billion USD.

An engineer by profession, Arnault showed exquisite business skills while working for his father’s business firm, Ferret-Savinel. He turned it into a real estate company, Ferinel Inc. after taking over in 1971. He eventually acquired Financiere Agache, a luxury goods maker in 1984 and eventually sold all holdings other than Christian Dior and Le Bon Marche.

Arnault invested in LVMH in 1987 and became the CEO within two years. His net worth is 150 billion USD, thanks to his various equity assets, including Carrefour with 900 million USD worth of public assets, Hermes with 2.23 billion USD worth of public assets, and Moelis & Company with 23m3 billion USD worth of public assets.

4. Bill Gates

Bill GatesBill Gates developed new software for original microcomputers in 1975 and dropped out of college to start Microsoft with his friend Paul Allen. Currently, other than producing software, Microsoft also deals in manufacturing Personal Computers, providing email services, publishing books, and even selling video games and peripheral devices.

Bill is also the co-chair of the Bill & Melinda Gates Foundation, which helps combat polio and malaria. He also launched the “Giving Pledge” with Warren Buffet in the year 2010, which focuses on motivating the rich to donate for the welfare of the underprivileged.

With a net worth of 124 billion USD, Bill Gates has invested in a lot of equity funds like Givaudan equity, Liberty Global Equity, AutoNation equity, Berkshire Hathaway equity, and Waste Management equity. Together, they constitute a huge chunk of his public assets amounting to 50 billion USD. His primary asset is his ownership stake in Microsoft, which is worth 31.2 billion USD.

5. Mark Zuckerberg

Mark ZuckerbergMark developed Facebook in 2004 with fellow students. Later, he opted out of Harvard to manage the growing business. Currently, Zuckerberg is the CEO of Facebook, which is the largest social networking site in the world. The company has now branched as a host to other brands as well, such as Instagram, Whatsapp, Oculus, Workplace, Portal, and Novi. With a net worth of 97 billion USD, he is ranked fifth among the richest person in the world.

His primary asset is his ownership stake in Facebook, which is worth 138 billion USD. Zuckerberg with his wife Priscilla started the Chan Zuckerberg Initiative, which is a charity working on improving the justice system, the US immigration system, quality of education as well as affordability of housing services. It also focuses on the treatment of diseases and spreading awareness through the apt use of social media and technology in general.

6. Warren Buffet

Warren BuffetThe 91-year-old businessman is one of the world’s biggest investors. Starting at a young age, he bought shares for Berkshire Hathaway in 1962, becoming a major shareholder within the next three years. He eventually diversified the company by investing in insurance and other fields. Currently, the company is worth 500 billion USD. Buffett primarily made a fortune by investing in the top companies, such as IBM, Apple, and more. Also, over the years, he has bought many companies like Duracell, Kraft Heinz, Dairy Queen, GEICO, etc.

The buffet boasts of a net worth of 96 billion USD, with his primary asset being his ownership stake worth 103 billion USD in Berkshire Hathaway. He also owns public assets worth 156 million USD in multiple equity funds like U.S. Bancorp, Seritage Growth Properties, Wells Fargo & Co., etc. Except for investments, he also focuses a lot on charities and welfare projects and donates a major part of his earnings to several social causes.

7. Larry Ellison

Larry EllisonAfter years of working as a computer programmer, Ellison joined Precision Instruments as the vice president of R&D in 1976. In 1977, he went on to start his own company Software Development Laboratories with his previous coworkers, Ed Oates and Bob Miner. Two years later, the company came up with Oracle, the first commercial RDBMS software to use SQL. Oracle ended up being so popular that the company renamed itself Oracle Systems Corporation in 1982.

Oracle is currently the world’s largest software company after Microsoft. It also offers cloud services and software and computing platforms. The company has also had various acquisitions over the years like Siebel, PeopleSoft, Sun Microsystems, BEA Systems, etc., which spurred its overall growth. Ellison, despite his hefty spending on real estate, also champions several community causes with time and funds.

Ellison has a net worth of 93 billion USD with his primary asset being his ownership stake in Oracle worth 74.3 billion USD. He also has public assets worth 11 billion USD in Tesla.

8. Larry Page

Larry PagePage founded a new data extraction facility, ‘Backrub,’ with his friend Sergey Brin in 1995. As the technology advanced, they founded Google in 1998 with Page serving as the CEO until 2001. Google soon emerged as the biggest search engine in the world. Riding high on success, the company expanded in 2006 with the acquisition of YouTube.Also, Google went on to take over Android Inc., which later on developed the Android operating systems.

Google, as of now, is the subsidiary of a Holdings Company, Alphabet. The page also invested in a space mining and exploration company called Planetary Resources which was acquired by ConsenSys in 2018. With a net worth of 91.5 billion USD, Page walks into the list of the richest person in the world. His primary asset is his ownership stake worth 115 billion USD in Alphabet.

9. Sergey Brin

Sergey BrinJust like Larry Page, Sergey Brin, the co-founder of Google, also stepped down in 2001 after being the president of the company for two years. Both Larry and Sergey also acted as the CEO of Alphabet, stepping down simultaneously in 2019. The co-founders of Google are pretty close in terms of wealth.

Google has expanded its services over the years and is not just a search engine anymore. Google currently offers workspace facilities, which are a collection of various useful software. It also deals in manufacturing smartphones, tablets, and computers. Additionally, Google also provides gaming platforms and smart home services.

Brin after 2019, focussed on X, which is a research laboratory set up by Alphabet and deals with innovative technologies like the development of Google Glass and Waymo. Brin, in partnership with Michael J. Fox Foundation, has worked to create new drugs for the treatment of LRRK2 and has donated millions towards research purposes for the cure of Parkinson’s. Brin’s net worth is 89 billion USD with his primary assets including his ownership stake in Alphabet, which is worth 110.1 billion USD.

10. Mukesh Ambani

Mukesh AmbaniMukesh Ambani, the Managing Director and Chairperson of Reliance Industries, started to dip his toes into business in 1980 by supervising the construction of a new mill under his father. He joined the Reliance Industries board in the same year, which was owned by his father at the time. In the 1990s, he was one of the major faces of the company as they went on to buy various petroleum refineries and petrochemical plants.

After his father’s death, he acquired control over oil and gas, textiles and petrochemicals, in 2005 after a feud with his brother over property rights for three years. However, in 2013, they announced a 200 million USD collaboration for a shared operation of a fiber-optics network. Reliance Industries has been able to broaden its horizon under his guidance with various subsidiaries like Jio, Reliance Retails, etc.

With a net worth of 84.5 billion USD, Mukesh is the tenth richest person in the world. His primary asset is his ownership stake in Reliance Industries, which is worth 86.09 billion USD and has residential assets worth 410 million USD.

Conclusion

These were the top richest persons in the world. If you also wish to seek the status of being a billionaire someday, you can start by focusing on one thing at a time. Mind you, it takes a lot more than sheer luck to make it big. You need to work hard and work smart.

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Rohit Kumar
Rohit Kumar
Passionate about content quality and attention to detail, Rohit has penned over 15,000 copies for some of the leading online and offline publications in his eight-year career. Currently heading the content team at Dunia Ka Gyan, he believes in team spirit, ingenuity, and reader satisfaction.

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