There is a wide spectrum of wealth, ranging from individuals who are moderately wealthy to those who are incredibly affluent. At present, the global population boasts around 2,700 billionaires, who belong to the top 0.1% in terms of wealth and collectively possess approximately 20% of the world’s total wealth. It is noteworthy that the majority of these billionaires amassed their fortunes by establishing groundbreaking companies that ultimately reached global acclaim and dominance within their respective industries.
The 10 Richest People
It is quite intriguing to observe that throughout history, the top 10 wealthiest individuals have consistently been men. Furthermore, out of the current top 10 richest men, 7 of them are of American nationality. The year 2023 witnessed a remarkable milestone as the leaders in the updated ranking of the world’s wealthiest people surpassed a net worth exceeding $100 billion each. This ranking is based on an estimation of the net worth of each individual, denominated in U.S. dollars.
Bernard Arnault
Net Worth:~ $237.6 billion
Major source of wealth: Co-Founder, Principal Shareholder & CEO of LVMH Moet Hennessy Louis Vuitton SE
Date of birth: 5.03.1949
Nationality: French
Bernard Arnault, the CEO of French company LVMH, is currently the richest person in the world. He co-founded and leads LVMH, which is the largest luxury goods company globally. Arnault has played a significant role in the luxury industry, acquiring various well-known brands such as Louis Vuitton and Guerlain. In 1987, he established LVMH as a conglomerate to unite multiple luxury brands under one umbrella.
Throughout the years, Arnault expanded his empire and now owns 75 luxury alcohol, fashion, and cosmetics brands. Notably, in 2022, he made history with the acquisition of Tiffany & Co. for $15.8 billion, marking the largest luxury brand acquisition ever. Arnault’s children are actively involved in his company, and he is also recognized as a prominent art collector. Additionally, he supports fashion design competitions in France and is known for his political support of French President Emmanuel Macron and his centrist Renaissance party.
Elon Musk
Net Worth:~ $179.3 billion
Major source of wealth: Principal Shareholder & CEO of Tesla, Inc.;
Founder, Owner & CEO of SpaceX Corporation;
Founder & Owner of The Boring Company.
Date of birth: 28.06.1971
Nationality: Canadian-American
Elon Musk is ranked second among the world’s richest individuals. He is the CEO of Tesla, a leading electric car company, and the founder, owner, and CEO of SpaceX, the largest private spacecraft and satellite company. Musk is also the founder and owner of The Boring Company, a tunnel construction company, and the neurotechnology company Neuralink. Additionally, he is the founder, owner, and CEO of X Holdings Corp., which owns Twitter and the artificial intelligence company X.AI. With his extensive portfolio and outspoken nature, Musk is widely regarded as one of the most influential people in the world.
In 1995, Musk co-founded Zip2, an internet company that provided online city guides. The company was sold in 1999 for $307 million. Musk then founded X.com, an online bank, which later merged with Confinity to become PayPal. PayPal was acquired by eBay in 2002 for $1.5 billion.
In 2002, Musk founded SpaceX with the goal of making space travel more affordable and building a rocket that can reach Mars. SpaceX has collaborated with NASA and successfully launched crewed flights into orbit. Musk also founded Tesla in 2004 and took charge of the company during a financial crisis, leading it to become the leading electric car company globally.
Musk co-founded Neuralink in 2016, a company that develops implantable brain-computer interfaces. He also founded The Boring Company in 2018, which builds underground tunnels for transit networks. Musk acquired Twitter in 2022 and founded X.AI, an artificial intelligence company, in 2023.
Jeff Bezos
Net Worth:~ $128.9 billion
Major source of wealth: Founder & Chairman of Amazon.com, Inc.;
Founder & Owner of Blue Origin;
Owner of The Washington Post.
Date of birth: 12.01.1964
Nationality: American
Jeff Bezos, the founder of Amazon.com, is widely recognized as one of the most influential figures in the business world. With his immense wealth, Bezos has diversified his interests and investments beyond just Amazon. In addition to being the third richest person globally, he is also the owner of Blue Origin, a pioneering space exploration company that aims to push the boundaries of human understanding and travel. Furthermore, Bezos has made a significant impact in the media industry by acquiring The Washington Post, a renowned newspaper known for its journalistic excellence.
Before the inception of Amazon in 1994, Bezos worked at various companies, accumulating experience and expertise that would later prove invaluable to his entrepreneurial journey. With a vision to revolutionize the way people shop, Bezos founded Amazon and transformed it into the world’s largest online store, offering a vast array of products and services to millions of customers worldwide.
Beyond his business ventures, Bezos has always nurtured a deep passion for space exploration. This passion led him to establish Blue Origin, a company dedicated to advancing the frontiers of space travel and paving the way for future generations to explore the cosmos.
Jeff Bezos’s journey is a testament to the power of innovation, determination, and the pursuit of one’s dreams. His contributions to various industries and his commitment to making a positive impact make him an inspiring figure in today’s world.
Larry Ellison
Net Worth:~ $120.8 billion
Major source of wealth: Co-Founder, Principal Shareholder & Chairman of Oracle Corporation
Date of birth: 17.08.1944
Nationality: American
Larry Ellison, the co-founder and chairman of Oracle, is currently the fourth-richest person globally. Ellison was born in New York City to an Italian-American military pilot and a Jewish mother. After being given up for adoption at a young age, he was raised by his aunt and uncle in Chicago. Ellison initially pursued a medical degree but dropped out after the death of his adoptive mother. He then moved to Northern California and ventured into the computer and semiconductor industry.
In 1977, Ellison co-founded Software Development Laboratories, later renamed Oracle, with Edward Oates and Robert Miner. The company became a leader in the database software market, with the CIA as its first major client. Under Ellison’s leadership, Oracle expanded its offerings to include various software fields such as Cloud software, ERP software, and CRM software. In 2010, Ellison acquired Sun Microsystems, solidifying Oracle’s position as one of the largest software companies.
Aside from his business ventures, Ellison has been involved in philanthropy, particularly in supporting environmental causes. He has been married four times and is known for his passion for yachting, owning a successful team that won the America’s Cup in 2010 and 2013. Ellison is also a licensed pilot, a collector of luxury sports cars, and a significant real estate owner in the United States.
Warren Buffet
Net Worth:~ $114 billion
Major source of wealth: Principal Shareholder & CEO of Berkshire Hathaway Inc.
Date of birth: 30.08.1930
Nationality: American
Warren Buffett, widely recognized as the world’s most prominent “investment icon,” holds the prestigious position of Chief Executive Officer (CEO) at Berkshire Hathaway, an investment conglomerate of immense stature. Originally hailing from Omaha, Nebraska, Buffett embarked on his professional journey within his father’s esteemed investment firm before venturing out to establish his own company, Buffett Partnership. It was in 1965 that Buffett assumed the role of majority owner of Berkshire Hathaway, assuming full responsibility for the company’s operations and strategic direction. Displaying remarkable acumen, Buffett adeptly steered the company away from its initial focus on the textile industry, transforming it into a formidable investment holding company.
Over the course of his illustrious career, Buffett has painstakingly curated a diverse and robust portfolio of investments, with a particular emphasis on the insurance sector. Renowned for his investment philosophy centered around value investing, Buffett has achieved unparalleled success at the helm of Berkshire Hathaway. Beyond his exceptional achievements in the world of finance, Buffett stands out as a beacon of philanthropy, committing to donate a substantial portion of his vast wealth to various charitable causes.
Despite his extraordinary wealth and influence, Buffett remains grounded and leads a relatively unpretentious life, choosing to reside in the very same house he purchased back in 1958.
Bill Gates
Net Worth:~ $113.8 billion
Major source of wealth: Co-Founder of Microsoft Corporation;
Founder & Owner of Cascade Investment LLC ;
Founder & Owner of BEN Group, Inc.
Date of birth: 29.10.1955
Nationality: American
Bill Gates, the co-founder of Microsoft, is ranked as the sixth wealthiest individual globally. He accumulated his wealth through Microsoft, the largest software company in the world and the second-largest video game company. Gates is also the founder and owner of BEN Group, a prominent advertising and influencer marketing company. Through Cascade Investment, he holds stocks in various companies.
Raised in Seattle, Washington, Gates displayed an early interest in the emerging computer industry. He left Harvard University and, alongside his friend Paul Allen, developed software for the Altair 8800 microcomputer. They established Microsoft and created Altair BASIC, a widely used programming language. Microsoft joined forces with IBM in 1980 to develop an operating system for the IBM PC, leading to the success of MS-DOS.
Taking on the role of CEO in 1983, Gates oversaw the launch of Microsoft Windows in 1985, which became the most widely used operating system worldwide. He remained actively involved in the company until 2020, when he stepped down from the board position and sold a substantial portion of his stocks.
Beyond his work at Microsoft, Gates established BEN Group and became a significant figure in the advertising industry. He is deeply engaged in philanthropy through the Gates Foundation, with a focus on health and environmental causes. Gates has made notable contributions to vaccination campaigns and founded Breakthrough Energy, a fund that supports technologies aiming to reduce greenhouse gas emissions.
Michael Bloomberg
Net Worth:~ $94.5 billion
Major source of wealth: Co-Founder, Majority Owner & CEO of Bloomberg L.P.
Date of birth: 14.02.1942
Nationality: American
Michael Bloomberg is ranked seventh among the world’s wealthiest individuals. He is the CEO and owner of Bloomberg L.P., a renowned financial technology, data, and media company. Born and raised in Boston, Massachusetts, Bloomberg attended Johns Hopkins University and Harvard University, where he pursued degrees in Electrical Engineering and Business Administration.
After working at Salomon Brothers, Bloomberg founded his own company, originally known as ‘Innovative Market Systems,’ which developed computer terminals that provided real-time data and analytics for the stock market. The company gained popularity and eventually became Bloomberg L.P. As the majority owner, Bloomberg expanded the company globally and established Bloomberg News and Bloomberg Radio.
Aside from his business accomplishments, Bloomberg had a notable political career as the mayor of New York City from 2002 to 2013. During his tenure, the city experienced significant growth and a reduction in crime rates. Bloomberg is also recognized for his philanthropic endeavors, donating billions to various charitable causes, particularly in the fields of education and the environment.
Carlos Slim
Net Worth:~ $93 billion
Major source of wealth: Founder, Owner & CEO of Grupo Carso;
Principal Shareholder & CEO of America Movil
Date of birth: 28.01.1940
Nationality: Mexican
Carlos Slim, the eighth richest person globally and the richest person outside Europe and North America, is the CEO and principal shareholder of America Movil, one of the largest telecommunications companies worldwide and the largest in Latin America. He also founded and owns Grupo Carso, a conglomerate involved in construction, industrial manufacturing, and retail.
Slim, born and raised in Mexico City to Lebanese immigrant parents, learned about business and investments from his wealthy father at an early age. He started working for his father’s company at 17 while attending school. After earning a degree in Civil Engineering, Slim became a full-time professional stock trader instead of joining the family business. In 1965, he established his own investment and stock brokerage firm, ‘Inversora Bursátil,’ and acquired a diverse portfolio of Mexican companies in various industries. In 1980, Slim merged his businesses under Grupo Carso. Taking advantage of Mexico’s economic crisis in the 1980s, he purchased many companies at reduced prices, which increased in value when the economy recovered in the 1990s.
As the Mexican government privatized its state-owned telecommunications industry in the early 1990s, Slim partnered with France Telecom and Southwestern Bell to acquire Telmex, the country’s largest landline operator. In 2001, Slim created America Movil by spinning off Telmex and expanded his telecommunications holdings across Latin America. He later acquired Telmex entirely and integrated it into America Movil. The company has since expanded into the European telecommunications market. Slim also leads the Carso Group, which includes companies in Mexican industrial manufacturing, construction, and Grupo Sanborns, a chain of retail stores. He has made investments outside of Mexico as well.
Mukesh Ambani
Net Worth:~ $83.4 billion
Major source of wealth: Heir of Dhirubhai Ambani;
Principal Shareholder & CEO of Reliance Industries Ltd.
Date of birth: 19.04.1957
Nationality: Indian
Mukesh Ambani is ranked ninth on the list of the world’s richest individuals and is also known as the wealthiest person in Asia. He is the son of Dhirubhai Ambani, the founder of Reliance Industries, which is India’s largest company involved in various industries such as petrochemicals, energy, telecommunications, clothing, retail, sports, and media. After his father’s passing in 2002, Mukesh Ambani took over the company and significantly expanded it.
Mukesh Ambani completed his Bachelor’s degree in Chemical Engineering from the Institute of Chemical Technology in Mumbai. He briefly pursued a Master of Business Administration degree at Stanford University in the USA but dropped out to join his father’s business. In the late 1980s, Reliance Industries became one of the largest polyester producers globally. Ambani played a crucial role in expanding the company into the petrochemical business and oversaw the construction of the world’s largest oil refinery in Jamnagar, Gujarat, India.
After his father’s death, Mukesh Ambani took control of half of Reliance Industries while his brother formed a separate company with the other half. Under Ambani’s leadership, Reliance Industries expanded into multiple industries and became India’s largest and most influential company. Ambani is recognized as the first rupee trillionaire and has made significant philanthropic contributions.
Steve Ballmer
Net Worth:~ $80.7 billion
Major source of wealth: Former CEO of Microsoft Corporation;
Owner of the Los Angeles Clippers;
Various investments
Date of birth: 24.03.1956
Nationality: American
Steve Ballmer, one of the top ten richest individuals globally, amassed his wealth primarily through his tenure as CEO and shareholder of Microsoft, the world’s largest software company. He is also the owner of the NBA franchise, the Los Angeles Clippers, and has achieved success in various investments.
Born in Detroit, Michigan, Ballmer grew up in Farmington Hills, a suburb of Detroit. He spent some time in Brussels, Belgium, where his father worked temporarily. After completing high school, Ballmer attended Harvard University, where he met Bill Gates, who would later co-found Microsoft. While Gates dropped out to focus on the company, Ballmer completed his studies and graduated magna cum laude with a Bachelor’s degree in Applied Mathematics and Economics in 1977.
Throughout his time at Microsoft, Ballmer held various positions and eventually became CEO in 2000 when Gates stepped down. Under his leadership, Microsoft’s revenue tripled, and the company expanded into hardware, video games, cloud computing, and video communication. After serving as CEO for fourteen years, Ballmer stepped down in 2014 but still retains ownership in Microsoft.
Outside of Microsoft, Ballmer acquired the Los Angeles Clippers in 2014 and has made profitable investments in tech start-ups. He is also known for his philanthropic work through the Ballmer Group, which aims to support black entrepreneurs and improve economic mobility for African Americans. Additionally, Ballmer founded USAFacts, a non-profit organization dedicated to government data transparency.
