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World’s 12 Wealthiest People Got $36 Billion Richer in a Single Day

5 wealthiest people in the world

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. Much of the wealth generated by large companies comes off the backs of workers who aren’t always properly compensated for their roles, Oxfam argues. The current state of the business world “generated unprecedented profits for major companies, fantastic pay for an elite class of executives and tremendous wealth for shareholders,” Oxfam’s report says. The Google co-founder added $47 billion to his fortune thanks to the strong performance of Alphabet in 2021, which surpassed the $2 trillion market cap in November and was recently crowned Big Tech stock of the year by CNBC. Heading into 2022, the 10 wealthiest individuals in the world are all worth more than $100 billion, according to the Bloomberg Billionaires Index.

5 wealthiest people in the world

Tesla shares are up about 60% this year, and the company hit a $1 trillion market cap for the first time in October. The ranks of billionaires dwindled over the past year, with their total worth dropping by $400 billion, says the latest list of the world’s richest people from Forbes magazine. After the dot-com bubble started to collapse in 2000, his wealth dropped to $60 billion, although he remained at the top of the list. Elon Musk, once the richest person in the world, is No. 2 on the list, with a net worth of $195 billion.

Annual rankings

The U.S. still tops all countries with the most billionaires at 735, followed by China’s 607. After acquiring Android in 2005, Google released the Android mobile phone operating system in 2008. Google reorganized in 2015, becoming a subsidiary of Alphabet, a holding company. Google is the world’s dominant Internet search engine, accounting for more than 92% of global search requests.

The individuals on this list belong to an even more exclusive club and wield still more power. Many are founders of technology giants, with much of their wealth still invested in the companies they started. Sergey Brin co-founded Google with Larry Page and has since invested in various tech ventures, including space exploration and biotechnology. Co-founder of Google, Larry Page has also invested in Planetary Resources, the space exploration company, and is one of the backers of Tesla. Known as the “Oracle of Omaha,” Warren Buffett is one of the most successful investors of all time.

François Pinault – Net Worth: $64.9 billion

Rounding out the rankings are Microsoft cofounder Bill Gates and Berkshire Hathaway CEO Warren Buffett. The billionaire best friends have added $13 billion and $7 billion to their respective fortunes since the start of January. As a result of the market crash caused by the Dot-com bubble, 83 billionaires dropped off the list from the previous year. Facebook founder Mark 5 wealthiest people in the world Zuckerberg, four years after starting the company, joined the list at 23 to become the youngest self-made billionaire. Caitlin O’Kane is a New York City journalist who works on the CBS News social media team as a senior manager of content and production. She writes about a variety of topics and produces “The Uplift,” CBS News’ streaming show that focuses on good news.

  • 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.
  • The Asia-Pacific region had the most drop-offs, with 29, followed by the United States with 16.
  • Certainly a large amount of money, and one that can virtually guarantee a comfortable life, but hardly the level of wealth enjoyed by the billionaires Oxfam cites.
  • It also wouldn’t hurt to have been born into wealth; however, the greatest fortunes on this list started as good ideas that people with creativity, drive, and connections used to build some of the world’s largest companies.
  • He pledged $2 billion of his fortune toward preschool programs and support for homeless families in September 2018, and $10 billion to fighting climate change in February 2020.
  • “These extremes cannot be accepted as the new norm, the world can’t afford another decade of division,” Oxfam interim CEO Aleema Shivji said in a statement accompanying the report.

Oxfam’s report comes as the world’s wealthiest people, highest powered executives, and ranking politicians meet in Davos, Switzerland, at the World Economic Forum. Things get drastically better for those with money and marginally worse for this without it. In the run-up to the buyout announcement, Musk sold 9.6 million shares of Tesla, valued at roughly $8.5 billion.

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“We are aware of a number of horses that are currently loose in central London and are working with colleagues, including the Army, to locate them,” London’s Metropolitan Police initially said on X. Gautam Adani is the founder and chairman of the Adani Group, an Indian multinational conglomerate involved in port development and operations in India. Also known as Pony Ma, he is the founder and CEO of Tencent, one of China’s largest and most widely used Internet service portals. Julia Koch inherited her wealth from her late husband, David Koch, who had significant holdings in Koch Industries. Below are the top 20 billionaires in the world according to the Real-Time Billionaires List. The Tesla CEO recently got approval from Twitter board members to buy the social media platform.

Former CEO of Microsoft and current owner of the Los Angeles Clippers, Steve Ballmer has significantly increased his wealth through his holdings in Microsoft and other investments. Co-founder of Oracle Corporation, Larry Ellison has played a pivotal role in the development of the database management systems industry. On February 28, Axel Springer, Business Insider’s parent company, joined 31 other media groups and filed a $2.3 billion suit against Google in Dutch court, alleging losses suffered due to the company’s advertising practices.

Who Are the Top 10 Richest People in the World?

But Oxfam predicts it would take 229 years for global poverty to be eliminated, defined as reducing the number of people earning $6.85 a day to less than 1% globally. Microsoft, Meta, Tesla and other technology companies have led the market higher, as investors bet big on artificial intelligence and other innovations. Their rising stock prices have bolstered the personal fortunes of their biggest shareholders. Extreme wealth can be extremely volatile; just look at the huge shifts reflected in the latest definitive list of the world’s richest people. But a large number of moguls also saw their wealth soar, even as income inequality grew more dramatic and a pandemic ravaged the world.

5 wealthiest people in the world

Musk, the founder of Tesla and SpaceX, also bought Twitter for $44 million in 2022, renaming it X. To be in the top 1% of U.S. earners, a household would need to earn about $652,000 a year. Certainly a large amount of money, and one that can virtually guarantee a comfortable life, but hardly the level of wealth enjoyed by the billionaires Oxfam cites. All five also founded companies which they either run as CEO or control as the largest shareholders.

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