Who is the top 5 richest people in the world? : All of the world’s richest people share two similar wealth-building traits: they all invest in businesses or build companies that have been valued at billions or trillions of dollars, and they benefit from the passage of time and capital.
The effect of profit compounding.These people are founders, leaders, visionaries and innovators, each with a unique story behind their success that allowed them to amass huge amounts of money. Take a closer look at how the 10 richest people in the world are listed on Forbes’ real-time billionaires list.
All of the world’s richest people share two similar wealth-building traits: they all invest in businesses or build companies that have been valued at billions or trillions of dollars, and they benefit from the passage of time and capital. The effect of profit compounding.
1. Elon Musk – $215.6 billion
Elon Musk is working to revolutionize transportation on Earth through electric car maker Tesla and in space through rocket maker SpaceX. Elon Musk’s electric car company Tesla is now worth about $ 800 billion, currently his net worth is $ 215.6 billion. Musk’s rocket company SpaceX is now valued at around $100 billion.
Tesla has become the world’s most valuable automaker with a market capitalization of $800 billion in October 2021. Elon Musk 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 an undergraduate physics program at Stanford University, Musk postponed appearances to launch Zip2, one of the earliest online navigation services. He reinvested a portion of the proceeds from this startup to create X.com, an online payment system sold to eBay Inc. In 2020, Tesla shares rose 740% to propel Musk in the wealth rankings. In December 2020, Tesla joined the S&P 500, becoming the largest company.
In January 2021, Musk became the richest person in the world (a title he has held ever since). In April 2022, Musk launched a campaign to take Twitter private, culminating in a $44 billion purchase. Musk plans to fund the deal with $21 billion of his own capital. Before the purchase was announced, Musk sold 9.6 million shares of Tesla, which was valued at about $8.5 billion.
2. Bernard Arnault & Family – $139.1 billion
LVMH – France’s chairman and CEO Bernard Arnault is today the second richest person in the world. He has a net worth of $139.1.3 billion as a result of his business in an empire of over 70 brands including Louis Vuitton and Sephora. French businessman and Europe’s richest man Bernard Arnault earned $100 billion in December last year.
Most of Arnault’s wealth comes from his massive stake in Christian Dior SE, the holding company that controls 41.3% of LVMH. 32 of his shares in Christian Dior SE, as well as an additional 6.2% in LVMH, are held through his family-owned holding company, Groupe Family Arnault.
Arnault remained Ferinal’s chair for another six years, until he acquired and reorganized the luxury goods company financier Agache in 1984, eventually selling all of his holdings except Christian Dior and Le Bon Marché. He was invited to invest in LVMH in 1987 and became a majority. shareholder, chairman of the board, and two years later the company’s CEO.
3. Jeff Bezos – $133.4 billion
Amazon founder and CEO Jeff Bezos has a net worth of $133.4 billion and today ranks as the third richest person in the world. His position remains the same after he divorced his wife Mackenzie in 2019 and transferred a quarter of his stake in Amazon to her. Bezos founded behemoth Amazon in 1994 out of his garage in Seattle.
The e-commerce giant has taken advantage of this coronavirus pandemic, with more and more people shopping online. Although Amazon.com originally started out selling books, it has since grown into a one-stop shop for everything and is arguably the largest retailer in the world.
Amazon’s continued diversification pattern is evident in some of its unexpected expansions, including acquiring Whole Foods in 2017 and entering the pharmacy business in the same year. Bezos originally took Amazon public in 1997 and became the first person since Bill Gates in 1999 to have a net worth of over $100 billion.
Bezos’ other projects include aerospace company Blue Origin, The Washington Post (which he bought in 2013), and the 10,000 Year Clock—also known as the Long Now. On July 20, 2021, Bezos, his brother Mark, aviation pioneer Wally Funk and Dutch student Oliver Damen completed Blue Origin’s first successful crewed flight, reaching an altitude of more than 66 miles before landing safely. In the same month, Bezos’s wealth reached $211 billion.
4. Bill Gates – $122.4 billion
The co-founder of the Bill & Melinda Gates Foundation, Bill Gates has a net worth of $122.4 billion. After founding software giant Microsoft with Paul Allen, Bill Gates eventually sold most of his stake in the company, retaining only 1% of the shares and investing the remainder in shares and other assets.
Bill Gates entered the $100 billion club in April last year when Microsoft’s stock price surged after earnings. The Bill & Melinda Gates Foundation is the largest private charitable foundation in the world. The world’s largest software company, Microsoft also manufactures its own line of personal computers, publishes books through Microsoft Press, provides email services through its Exchange servers, and sells video game systems and related peripheral devices.
Originally Microsoft’s chief software architect, Gates moved to the role of board chairman in 2008. He joined the board of Berkshire Hathaway in 2004. He resigned from both boards on March 13, 2020. In 2010, along with Warren Buffett, Bill Gates launched the Giving Pledge, a campaign encouraging the wealthy to donate most of their wealth to philanthropic causes.
50 Bill and Melinda French Gates divorced on August 2, 2021.51, with the divorce, approximately $5 billion of equity transferred to French Gates.36 Bill Gates is the U.S. with more than 268,000 acres. It is also the largest private owner of agricultural land in the state.
5. Warren Buffett – $100.9 billion
Popularly known as the Oracle of Omaha, Warren Buffett is viewed as one of the most successful investors of all time. He runs Berkshire Hathaway, which owns more than 60 companies, including the famous Jio Insurance, Duracell, Dairy Queen restaurants. His net worth is $100.9 billion. The son of a US Congressman, he bought his first stock at the age of 11.
Widely known as the “Oracle of Omaha,” Buffett is a buy-and-hold investor who has made 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. Buffett is a well-known bitcoin skeptic.
Buffett has dedicated most of his wealth to charity. Between 2006 and 2020, he donated $41 billion – mostly to charities to the Bill & Melinda Gates Foundation and their children. Buffett started the Giving Pledge with Bill Gates in 2010.
Buffett, 91, still serves as CEO, but in 2021 he hinted at who could be his successor- Gregory Abel. Abel is the head of Berkshire’s non-insurance operations.