It’s no secret that billionaires have a huge impact on the world economy, politics, and philanthropy. In 2022, Forbes estimates that there will be 2,668 billionaires around the globe. Read this for Top 10 Richest People in the World
1 Member of an even more restricted club has even more influence than before. In many cases, these billionaires are the founders and CEOs of some of the world’s most successful technology businesses.
2. To avoid selling shares, they can, however, borrow against that wealth and delay or eliminate (for the heirs) taxes on unrealized capital gains while doing so.
3. Some multi-billionaires have been able to avoid paying any income tax in recent years by making use of a wide range of tax deductions.
4. The richest people’s net worth is subject to market fluctuations since they have so much of their money invested in publicly traded companies. When Elon Musk, the man who founded and is presently CEO of Tesla Inc. (TSLA), sees the share price of Tesla, which he currently owns 17 percent of, rise by about 50 percent in 2021, his net worth will soar.
When Meta’s stock price collapsed following a dismal earnings report in February 2022, CEO and founder Mark Zuckerberg of Meta Platforms Inc. (Facebook) dropped out of the top 10. Facebook CEO Mark Zuckerberg lost $43 billion in net value in 2022.
The world’s 10 richest persons as of the same day are listed below.
1. Elon Musk, the CEO of Tesla
- Age: 50
- The company’s creator and CEO are based in Texas.
- The total wealth of $268 billion
- 16 percent ($134 billion) of Tesla’s stock is owned by its owners.
- NASA’s Other Assets: Space Exploration Technologies, The Boring Company, Twitter (a public company), and $9.35 BILLION in cash (private company).
Elon Musk earned a bachelor’s degree in economics and physics from the University of Pennsylvania. To create Zip2, one of the first internet navigation services, Musk postponed attending Stanford University’s graduate physics program for two days. PayPal Holdings Inc. (EBAY) and eBay Inc. (EBAY) eventually bought the online payment system X.com from him, and he put a portion of that money back into the company (PYPL).
As a key investor in Tesla Motors (now Tesla), Musk rose to the post of CEO of the electric vehicle manufacturer in 2004. With the acquisition of SolarCity in 2016, Tesla expanded its product portfolio to include energy storage devices, automotive accessories, and solar power installations.
Space Exploration Technologies (SpaceX), a company that designs and builds rockets for use in space, is also headed by Musk.
In 2020, Tesla’s stock rose 740 percent, putting Musk at the top of the richest people in the world. When Tesla joins the S&P 500 in December of 2020, it will be the largest firm to be included. Musk surpassed Gates as the richest man in the world in January 2021 (a status he has retained since).
Musk posed the question to his Twitter followers on Nov. 6, 2021, asking whether they thought he should sell 10% of his Tesla stock in response to accusations that he was hiding unrealized capital gains to avoid paying taxes.
Over the year, he sold $16.4 billion worth of shares.
To support her case for an income tax on the wealthy, Massachusetts Democratic Sen. Elizabeth Warren referenced media reports that Elon Musk did not pay any taxes in 2018. Tesla CEO Elon Musk chided his critics on Twitter, writing, “And you would know if you opened your eyes for 2 seconds that I will pay more taxes than any American in history this year.”
The stated valuation of SpaceX has increased thanks to private transactions and a rise in Tesla share prices in 2021. Musk’s lead in the worldwide wealth rankings continues to expand. In November 2021, his fortune soared to $340 billion. Musk’s fortune has grown by 60% in the last year (as of Apr. 1, 2022).
Twitter was purchased for $44 billion by Musk in April 2022, after a campaign that began in April 2022 to take the company private. Musk intends to cover the $21 billion cost of the transaction out of his pocket. Musk sold 9.6 million Tesla shares for an estimated $8.5 billion in the days leading up to the announcement of the acquisition.
Bezos’ wealth. An estimated $171 billion
- Age: 58
- Residence: Washington
- Chief Executive Officer and Founder of Amazon (AMZN)\
- $150 billion in assets
- Ownership Stake: 10% ($126 billion)
- It also owns The Washington Post (a $250 million private asset) and Blue Origin (a $9.15 billion private asset).
He is the second richest person in the world, according to Forbes Magazine, with a net worth of $171 billion.
Amazon began as a book retailer, but by the early 2000s, it was selling everything from electronics to furniture and bathroom supplies.
Besides his Texas ranch, which serves as the private base for his space tourism business Blue Origin, Amazon CEO Jeff Bezos has many New York City apartments, properties in Washington, California, and the District of Columbia, as well as a property in Washington, DC.
He and MacKenzie Bezos, his longtime wife of 25 years, have four children.
Bezos disclosed his romance with Lauren Sanchez in the same year that their divorce was finalized.
The tax evasion practices of his firm, Amazon, have been brought into doubt, and the group Ethical Consumer has called for an Amazon boycott.
Workers in a Staten Island warehouse voted in favor of unionizing in April 2022, citing their dissatisfaction with their working conditions.
Chris Smalls, the union head, stated, “We want to congratulate Jeff Bezos for traveling to space because while he was up there we were signing people up.” ”
Bernard Arnault, 73, is the third person on the list
- Paris, France, is where I currently call home.
- LVMH is the company’s chairman and CEO (LVMUY)
- Over $132 billion in net worth
- Owning 97.5% of Christian Dior ($120 billion total)
- Hermès stock (unknown ownership), Moelis & Company equity ($19.8 billion), and $11 billion in cash
According to Forbes Magazine, the Arnaults are the world’s third-richest family, with an estimated $158 billion in assets.
Seventy of the world’s most recognized fashion and beauty businesses are under 73-year-old French billionaire Bernard Arnault’s stewardship.
For many years, Arnault’s rich family owned and operated a profitable construction company.
He got his start in the fashion sector in 1985 when he bought Christian Dior with $15 million from his father’s firm.
Helene Mercier, a concert pianist, is Arnault’s wife, and they live in Paris, France.
Frédéric, Delphine, Antoine, and Alexandre are four of the couple’s five children, all of whom work in the family company.
Fourth on our list is Microsoft CEO, Bill Gates
- Age: 66
- Residence: Washington
- Microsoft Corp. co-founder (MSFT)
- One hundred twenty-seven billion dollars
- (29.9 billion dollars) Microsoft has a 1.3 percent stake in the company
- Cascade Investment LLC ($57.1 billion in public assets) and $55 billion in cash make up the rest of the company’s assets.
In 2022, Bill Gates will be the fourth-richest person in the world, with a fortune estimated at $127 billion. Microsoft values its 1.3 percent stake at $30.8 billion. His Cascade Investment LLC, which holds $55.9 billion in public and private investments, has $55.3 billion in cash. On the private equity side of things, Cascade has assets in Deere and Republic Services as well as the Canadian National Railway and a portfolio of private energy and real estate ventures.
Gautam Adani, number five
- Age: 59
- On the ground: India’s Gurgaon
- Chairman and Founder of Adani Group
- The total worth of the company is $120 billion
- There are 75 percent each of the Adani Enterprises, Power, and Transmission Ownership stakes in the project.
- Over 65 percent of the Adani Ports & Special Economic Zone, 61 percent of the Adani Green Energy, and 37 percent of the Adani Total Gas assets are owned by the government, respectively.
Adani Group founder Gautam Adani will overtake Mukesh Ambani as Asia’s richest man in March 2022. Adani holds large shares in six important Indian enterprises through his Adani Group, including 75% in Adani Enterprises, 61% in Adani Green Energy, and 37% in Adani Total Gas. He also owns 65% of Adani Ports & Special Economic Zone and 61% of Adani Power.
The Adani Group owns a total of $214 billion worth of publicly traded enterprises (as of May 5, 2022). In 2009, Adani made its first entrance into the power generation industry with the establishment of Adani Power. To import and export commodities, Adani Enterprises was founded in 1988. Mundra Port, which is today the largest private port in India, was approved for development in 1994 by his firm.
Adani had previously worked in the diamond sector before dropping out of college. Adani now owns India’s largest port operator, thermal coal producer, and coal dealer. At Mumbai International Airport, India’s second-biggest airport, he invested 74% in 2020. In 1997, the millionaire was abducted and held hostage for ransom in an attempt to get his release. At the time of the 2008 terrorist attack on Mumbai’s Taj hotel, Adani was there as well.
6. Warren Buffett
- Residence: Nebraska
- B.R. Hathaway, Jr. (BRK.A)
- $116 billion in assets
- Hathaway Companies 16 percent ($115 billion) of Ow.nership’s equity
- There is also a cash reserve of $1.1 billion
“Warren Buffett” appears on Bloomberg.
With a net worth of $116 billion, Warren Buffet will be the world’s sixth-richest person in 2022. His Berkshire Hathaway share is valued at $114 billion, based on a 16 percent interest. $1.1 billion in cash is among his other holdings. The “Oracle of Omaha” Warren Buffet is the most popular living value investor. By buying undervalued companies, he makes a fortune. He is considered a Bitcoin skeptic by industry professionals.
- Age: 49
- Residence: California
- Chairman and CEO: Alphabet (GOOG)
- Net worth: $105 billion
- Ownership stake: 6 percent of Alphabet’s total value ($90.9 billion).
An American computer scientist and entrepreneur known as Larry Page (born March 26, 1973, in East Lansing, Michigan), together with Sergey Brin (the other co-founder of the search engine Google), established the site.
Webster “Brin” Brin met Page when he was in the doctoral program at Stanford University, where Page obtained his computer engineering degree (1995) from the University of Michigan and met his future wife. This concept of making it easier to glean meaning from the vast amounts of Internet data piqued their interest. A new sort of search engine technology was invented from Page’s dorm room by tracking each site’s “backing links”—that is, the number of other pages that connect to them.
(8) Sergey Brin
- Age: 48
- Residence: California
- Chairman and CEO: Alphabet (GOOG)
- $101 billion in assets
- Owning 6% of Alphabet ($86.5 billion) is a significant accomplishment for Google.
- Cash on hand of $14.7 billion is one of the firm’s other assets.
One of the world’s most popular websites is the result of Sergey Brin‘s and Larry Page’s work on Google, an internet search engine that has become a household name.
In 1979, the Brin family left Moscow for the United States. He met Page, a fellow graduate student at Stanford University, after earning bachelor’s and master’s degrees in computer science and mathematics at the University of Maryland (1993).
The thought of expanding the capacity to extract meaning from the ever-increasing volume of data on the Internet piqued the interest of both of them. From Page’s dorm room, they began working on an innovative search system that tapped into Web users’ ranking skills by analyzing each site’s “backing connections.” Stanford’s doctoral program allowed Brin to take a leave of absence in 1995 to continue working on the search engine.
In the ninth place, there’s Mukesh Ambani
- Age: 65
- Mumbai, India is where I live.
- Reliance Industries’ CEO and Chairman.
- 97.7 billion dollars in total net worth
- Reliance Industries holds a 45 percent stake in the company ($98.2 billion).
- Other assets include a Mumbai residential property (a private asset worth $410 million)
A trade business clerk’s son, Mukesh Ambani was born in British-ruled Yemen. His father, Dhirubhai Ambani, returned to India the next year and established a spice trading business in a two-room Mumbai flat. Reliance Industries, the holding company founded by Dhirubhai Ambani, went public on the Mumbai stock market in 1977 and has since amassed a devoted following of investors.
Mukesh Ambani graduated from the University of Mumbai with a degree in chemical engineering. Since 1977, he has been on the board of directors of Reliance Industries.
While attending Stanford University for a master’s degree, Mukesh Ambani departed without one, returning to India to manage the growth of Reliance’s petrochemical operations, as well as oil refining and drilling.
After Dhirubhai Ambani died in 2002 due to a stroke, Mukesh Ambani and his brother Anil took control of Reliance Industries. Their mother helped engineer a 2005 agreement that divided Reliance into two separate companies, with Mukesh maintaining the oil and gas activities and Anil’s group taking over the company’s a telecommunication and entertainment businesses.
A legal issue over natural gas was settled by the brothers in 2010 and the non-compete restrictions contained in the 2005 settlement were annulled. The first transaction involving subsidiaries of Mukesh and Anil Ambani’s firms, a $220 million agreement to share a fiberoptic network, was struck in 2013.
Reliance Industries has grown into retail and telecoms under the leadership of Mukesh Ambani. In 2007, he was declared the world’s richest man by two Indian magazines. A member of the World Economic Forum’s board of directors, Ambani is known for his philanthropic work. His firm, the Reliance Foundation, was established in 2010 to support rural development, health and education.
10. Steve Ballmer, Microsoft’s CEO
- Age: 66
- Residence: Washington
- The Los Angeles Clippers are owned by this person.
- Amount of wealth: $97.6 billion
- Involvement in Microsoft: 4% ($88.5 billion in total)
- Aside from that, there’s the Los Angeles Clippers ($3.16 billion in private assets)
- $5.7 billion in cash
As the company’s first business manager in 1980, Steve Ballmer was hired by Bill Gates as the company’s second CEO, following Gates. Shortly after that, Ballmer helped IBM get a signed agreement for the provision of its computer’s operating system.
In addition to supervising the introduction of the first Xbox and increasing Microsoft’s cloud investments, he is widely regarded for advancing the company’s enterprise strategy. Microsoft CEO Steve Ballmer stepped down in 2013.
In his current capacity as a technical advisor and a member of the Microsoft board, Gates remained chairman of the company until 2014. Bill and Melinda Gates Foundation was established in 1997 to solve the world’s most pressing health and education concerns. In recent years, he has committed more time to the foundation.
Former Microsoft CEO
Former Microsoft CEO Steve Ballmer has a net worth of over $100 billion, making him the ninth individual in the world to attain that illustrious level of fortune.
In the end, the Bloomberg Billionaires Index valued Oracle co-founder Larry Ellison at $98.6 billion, narrowly missing out on a perfect 10.
65-year-old former Microsoft CEO Steve Ballmer, who owns the Los Angeles Clippers of the NBA, has seen his fortune rise by $20.1 billion this year, while Ellison has added $18.9 billion to his net worth since he stepped down from his position in 2014.
The recent wealth boom has been spurred by a rise in technology shares, with seven individuals exceeding the $100 billion thresholds having their fortunes derived from technology businesses.
Among the winners of that surge has been Amazon.com’s Jeff Bezos, who now has a net worth of $212.1 billion.