In the process, he reinvigorated Christian Dior as the cornerstone of the new organization. Details about the calculations are provided in the net worth analysis on each billionaire’s profile page. “If these 10 men were to lose 99.999% of their wealth tomorrow, they would still be richer than 99% of all the people on this planet,” said Gabriela Bucher, Oxfam’s executive director.

• Musk has mostly tweeted himself out of the top spot on the ranks, with Tesla stock down nearly 50% since he announced his $44 billion takeover of Twitter last April, far outpacing the tech-heavy Nasdaq’s 18% drop.
• Sergey Brin was born in Moscow, Russia, moving to the U.S. with his family when he was six in 1979.
• China (including Hong Kong and Macau) remains second, with 562 billionaires worth $2 trillion, followed by India, with 169 billionaires worth $675 billion.
• To put it further into perspective, Bezos’ net worth is bigger than the gross domestic product of Hungary or Ukraine, according to data from the International Monetary Fund.
• At the time, the business and civic leaders of Northwest Arkansas Council found a need for the $109 million regional airport in their corner of the state.
• Buffett has spent the past three years on a spending spree, pumping some $90 billion of Berkshire Hathaway’s cash into stocks, share buybacks and the $11.5 billion acquisition of insurance firm Alleghany Corp., which closed in October.

Bahaa Hariri is the founder and chairman of the real estate holding firm, Horizon Group. The richest Arab billionaires are mostly from the richest Arab countries, mainly Egypt and the United Arab Emirates. Some of them are from the poorest Arab countries including Morocco and Lebanon. The backbone of the regional economy is its natural resources including oil and gas. As we mentioned earlier, Saudi Arabia is home to the biggest oil reserves and the largest crude oil producer among OPEC countries. Blame shrinking manufacturing and an export slowdown amid heightened U.S.-China tensions.

#16 Mark Zuckerberg

In 1989, Mr. Arnault became the majority shareholder of LVMH Moët Hennessy – Louis Vuitton, creating the world’s leading luxury products group. Bernard Arnault remained there until 1984, when he undertook https://www.bookstime.com/ the reorganization of the Financière Agache holding company. He returned the group to profitability as he embarked upon a strategy of developing the world’s leading luxury products company.

• Led by a $35 billion decline in Elon Musk’s fortune during October, half of the ten richest are worth less on November 1 than they were at the start of October.
• Buffett created the Giving Pledge with Bill Gates and Melinda French Gates in 2010, asking billionaires to commit to give away at least half their fortune to charitable groups.
• Gates transitioned to a new role as technology advisor and Microsoft board member, serving as chairman until 2014.
• He returned the group to profitability as he embarked upon a strategy of developing the world’s leading luxury products company.

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.

TOP 50 World’s Richest People 2023

According to Forbes, Saudi Arabia leads the race with most family businesses with 33 entries and is home to four of the top 10 companies. The United Arab Emirates ranks second with 29 entries, Egypt ranks third with nine, and Qatar with eight. On July 18, PwC shared a family 5 richest people in the world business survey for the Middle East, which highlighted that 74% of Middle East family businesses expect to grow in the next two years. 40% of consumers are willing to pay above-average prices for luxury goods and products from local companies that use ethical practices.

Gates shifted from the company’s CEO to the role of board chair in 2008. While attending Harvard University in 1975, Bill Gates went to work alongside his childhood friend Paul Allen to develop new software for the original microcomputers. Following this project’s success, Gates dropped out of Harvard during his junior year and founded Microsoft with Allen. 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).

Bloomberg Billionaires Index

On September 28, 2005, Walton replaced his deceased brother, John, on the Wal-Mart Board of Directors. Carlos Slim has been publicly skeptical of The Giving Pledge by Bill Gates and Warren Buffett giving away at least half of their fortunes. But—according to his spokesman—he devoted US$4 billion, or roughly 5%, to his Carlos Slim foundation as of 2011. He accounts for 40% of the listings on the Mexican Stock Exchange, while his net worth is equivalent to about 6% of Mexico’s gross domestic product. As of 2016, he is the largest single shareholder of The New York Times Company.

He is the majority owner, co-founder and CEO of Bloomberg L.P. He was Mayor of New York City from 2002 to 2013, and was a candidate for the 2020 Democratic nomination for President of the United States. Sergey has been a featured speaker at several international academic, business and technology forums, including the World Economic Forum and the Technology, Entertainment and Design Conference. He has shared his views on the technology industry and the future of search on the Charlie Rose Show, CNBC, and CNNfn. In 2004, he and Larry Page were named “Persons of the Week” by ABC World News Tonight.

Sergey Brin – Net Worth: $115 billion

He bought X, then known as Twitter, for $44 billion in October 2022 and owns an estimated 74% of the social media company, which is now worth less than half what he paid for it. Nonetheless, the trend this year has been for the fortunes at the top of the list to grow. All of the top ten richest are worth $100 billion or more as of November 1, a change from March, when only six of the top ten had fortunes that exceeded $100 billion and the top ten were worth a combined $1.17 trillion. We used stock prices and exchange rates from March 11, 2022 to calculate net worths. After decades of almost religiously holding onto their family retailer’s shares, the children of Walmart cofounder Sam Walton have been among its biggest sellers, unloading another $1.8 billion of stock over the past 12 months.

A prolonged downturn in real estate prices – plus some high-profile defaults – also took a toll. Overall, the collective wealth of the 100 richest was down to $895 billion from $907.1 billion. The Bloomberg Billionaires Index is a daily ranking of the world’s richest people. Individuals whose fortunes are significantly tied to private companies will have their net worths updated once a day. Michael Saul Dell is an American billionaire businessman and philanthropist. He is the founder, chairman, and CEO of Dell Technologies, one of the world’s largest technology infrastructure companies.

LVMH added Tiffany & Co. to its portfolio in 2020 and officially closed the deal in January 2021. Julia Margaret Flesher Koch is an American socialite and philanthropist who is one of the richest women in the world. She inherited her fortune from her husband, David Koch, who died in 2019. Mukesh Dhirubhai Ambani was born on 19 April 1957 in the British Crown colony of Aden (present-day Yemen) into a Gujarati Hindu family to Dhirubhai Ambani and Kokilaben Ambani. He has a younger brother Anil Ambani and two sisters, Nina Bhadrashyam Kothari and Dipti Dattaraj Salgaonkar. Brin immigrated to the United States with his family from the Soviet Union at the age of six.

• Page cofounded search engine Google with fellow Stanford PhD student Sergey Brin in 1998 and served as CEO until 2001 and from 2011 to 2015.
• 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.
• Faisal is the chairman of Al Faisal Holding, which owns more than 20 hotels worldwide.
• The founding of Facebook involved Zuckerberg in multiple lawsuits regarding the creation and ownership of the website.
• In 2007, at age 23, he became the world’s youngest self-made billionaire.

Brin and fellow billionaire Larry Page co-founded Google in 1998, while the two were Ph.D. students at Stanford. One of the richest women in the world — and the richest on this list — Bettencourt Meyers, together with her family, owns 33% of the cosmetics company L’Oreal. It’s a marked change from the 2001 list of billionaires, when 49% of the total 565 billionaires were self-made.

Private companies are valued by using financial ratios and other comparisons with similar companies that are publicly traded. The editors reserve the right to amend the list in light of new information. Bezos overtook Bill Gates to become the richest person in the world in July 2017. He and Gates traded the number one and number two richest spots off and on. Bezos was the world’s richest person on Forbes’ list of the World’s Billionaires from 2018 through 2021; he dropped to second richest on the 2022 billionaires list.