Forbes, a popular American magazine, has released its 36th annual list of the world’s richest people. In comparison to the previous year, 87 persons were left off the list due to war, COVID- 19 pandemic and sluggish markets wreaked havoc on the world’s billionaires.
According to Forbes, the list includes 2,668 billionaires, with 236 newcomers, and 1,000 billionaires are now wealthier than they were a year ago.
With 735 billionaires worth a combined $4.7 trillion, America continues to top the world. Elon Musk, the CEO of Tesla Motors, led the list for the first time, while China (including Macau and Hong Kong) stayed second, with 607 billionaires worth a total of $2.3 trillion.
Read more: Meet the 15 youngest billionaires under the age of 40 in Forbes 400
Meanwhile, the number of billionaires in Russia and China has decreased significantly. Following Putin’s invasion of Ukraine, there are 34 fewer billionaires in Russia than last year, while a government assault on internet businesses has resulted in 87 fewer billionaires in China.
No one has become wealthier than Elon Musk, who has moved to the top of the World’s Billionaires list for the first time. Musk was worth an estimated $219 billion as of March 11, when the magazine calculated net worth’s, after adding $68 billion to his fortune over the previous year thanks to a 33 percent increase in the stock price of his electric vehicle producer Tesla.
Elon Musk beat Jeff Bezos, who dropped to No. 2 for the first time in four years as a result of a 3% drop in Amazon stock and higher charity donations, wiping $6 billion off his net worth. Bernard Arnault, the French luxury goods billionaire who has gained $8 billion to his fortune in the last year, is still the world’s third wealthiest person. Bill Gates and Warren Buffett round out the top five.
According to Forbes magazine, Indian businessman Mukesh Ambani, chairman of Reliance Industries, is the world’s 10th wealthiest person, followed by infrastructure tycoon Gautam Adani and his family, who are ranked 11th on Forbes’ annual billionaires list.
The World’s 10 Richest People
Elon Musk
Net worth: $219 billion
Source of wealth: Tesla, SpaceX
Residence: Austin, Texas
Jeff Bezos
Net worth: $171 billion
Source of wealth: Amazon
Residence: Seattle, Washington
Bernard Arnault & family
Net worth: $158 billion
Source of wealth: LVMH
Residence: Paris, France
Bill Gates
Net worth: $129 billion
Source of wealth: Microsoft
Residence: Medina, Washington
Warren Buffett
Net worth: $118 billion
Source of wealth: Berkshire Hathaway
Residence: Omaha, Nebraska
Larry Page
Net worth: $111 billion
Source of wealth: Google
Residence: Palo Alto, California
Sergey Brin
Net worth: $107 billion
Source of wealth: Google
Residence: Los Altos, California
Larry Ellison
Net worth: $106 billion
Source of wealth: software
Residence: Lanai, Hawaii
Steve Ballmer
Net worth: $91.4 billion
Source of wealth: Microsoft
Residence: Hunts Point, Washington
Mukesh Ambani
Net worth: $90.7 billion
Source of wealth: diversified
Residence: Mumbai, India
