Forbes released their list of the 100 richest people in the world, but you may not recognize the man at #1. As a matter of fact, you may not recognize a few in the top 10. Number 2 has a tie to Philadelphia. There’s only one woman.
First, Elon Musk did NOT top the top 10. Though Musk is ONE of the wealthiest people on the earth, he’s been bumped from holding on to last year’s number one position. The CEO of Tesla, SpaceX and Twitter slipped to the number two spot back in December, where he remains today.
Number 1 is not even Jeff Bezos. (Though I feel like I just pour money into his wallet every time I rationalize a purchase on Amazon.)
“Forbes” new ranking has Bernard Arnault topping the list as the richest person in the world.
The French CEO of luxury goods company LVMH is worth nearly $211-billion.
What is LVMH? Good question. I had to look it up myself.
LV = Louis Vuitton
M = Moet
H = Hennessey
Not too shabby.
While Arnault is French, six of the 10 richest people in the world are Americans, including Musk, Bezos, Larry Ellison and Bill Gates.
Nine of the top 10 richest people are men.
So, why do the billionaires on this list seem to bounce around every year? Since so much of billionaires’ net worth is in the stocks of the company they founded, when that stock price moves, their fortunes go with it. That means the richest people change frequently.
Larry Page and Sergey Brin, co-founders of Google, were the 8th and 10th richest in the world on February 1st, but when the share price of Google’s parent company Alphabet fell over 9% in the last month, they both dropped out of the top 10.
Mark Zuckerberg was the 5th richest person in the world in March 2022, worth $97-billion. Since then, Facebook’s (rebranded as Meta Platforms) stock has fallen 35% and as of yesterday, Zuckerberg is the world’s 16th richest, worth $63-billion.
The richest woman in the world and the only woman in the top 10 is Francoise Bettencourt Meyers. Scroll down for her info. This stuff is fascinating …
The 10 richest people in the world, as of March 1st, 2023:
information according to FORBES
1. Bernard Arnault
Pascal Le Segretain/Getty Images
Net worth: $210.8 B
Source: LVMH/ luxury goods
Age: 73
Residence: Paris
Citizenship: France
Bernard Arnault is CEO and chair of LVMH, the largest luxury goods company in the world with some 70 fashion and cosmetics brands. Among its most notable: Louis Vuitton, Christian Dior, Moet & Chandon and Sephora. In January 2021, LVMH acquired jeweler Tiffany & Co. for $15.8 billion.
Arnault’s father made millions in the construction business; to get his start, Arnault used $15 million of that fortune to buy Christian Dior.
Four of Arnault’s five children work in parts of the LVMH empire. In January 2023, Arnault appointed his daughter Delphine to run Dior, the second largest brand in the group.
2. Elon Musk
Michael Gonzalez/Getty Images
Net worth: $196.5 B
Source: Tesla, SpaceX, Twitter
Age: 51
Residence: Austin, Texas
Citizenship: U.S.
Musk is CEO of electric car company Tesla, rocket firm SpaceX and social media company Twitter. He owns about 21% of Tesla between stock and options, but has pledged more than half of his stock as collateral for loans. The car company accounts for about two-thirds of his fortune. He bought Twitter for $44 billion in October 2022 and owns an estimated 74% of the social media company.
Originally from South Africa, Musk moved to Canada before his 18th birthday, worked a variety of jobs, enrolled at Queen’s University in Ontario and then transferred to University of Pennsylvania, where he earned a bachelor’s degree in economics.
In 2000, he merged an online bank he cofounded, X.com with a similar outfit cofounded by Peter Thiel to form PayPal, which eBay bought in 2002 for $1.4 billion. He founded SpaceX in 2002 in El Segundo, near Los Angeles. In 2004 he joined Tesla as an investor and chairman, a year after it was founded; he was later granted the cofounder title. Musk, who became CEO of Tesla in 2008, took the company public in 2010. Its market capitalization soared during 2020 and 2021. In September 2021, Musk became the world’s richest person. In November 2021, his fortune peaked at a whopping $320 billion.
Musk remained the world’s richest person until December 2022, when the drop in Tesla’s share price pushed down the value of his fortune. Tesla shares have fallen nearly 50% from their peak in November 2021 through February 28, 2023.
3. Jeff Bezos
Joe Raedle/Getty Images
Net worth: $117.4 B
Source: Amazon
Age: 59
Residence: Medina, Washington
Citizenship: U.S.
Jeff Bezos stepped down as CEO of e-commerce giant Amazon in July 2021 but remains chairman; that same month he went to space on a rocket built by private rocket company Blue Origin, which he founded and has funded with billions of dollars.
Bezos founded online retailer Amazon.com in his garage in Seattle in 1994, after he left a job in New York at hedge fund D.E. Shaw. Amazon began as an online bookseller at a time when few people bought goods online. Amazon grew to dominate cloud storage and moved into movie and series production to feed Amazon Prime Video.
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. He dropped to fourth richest but moved back to No. 3 on January 25, 2023 as the fortune of India’s Gautam Adani (formerly No. 3 richest) fell.
In 2019, Bezos and his wife MacKenzie divorced; as part of the settlement, she got 4% of Amazon’s shares and he kept 12%. He has since sold more of his stake and owns around 10% of the company. Since Amazon went public in 1997, Forbes calculates that he has sold more than $27 billion worth of his stock.
4. Larry Ellison
Phillip Faraone/Getty Images
Net worth: $112.3 B
Source: Oracle
Age: 78
Residence: Lanai, Hawaii
Citizenship: U.S.
Larry Ellison cofounded software firm Oracle in 1977 and ran it as CEO until 2014; he now serves as chairman and Chief Technology Officer of the company. Over the years Oracle has made a series of large acquisitions, buying Sun Microsystems in 2010.
In 2012, Ellison bought the Hawaiian island of Lanai for $300 million. He moved from California to Lanai in 2020.
Ellison invested in Tesla and served on the board of the car company from 2018 through August 2022.
5. Warren Buffett
Paul Morigi/Getty Images for Fortune/Time Inc
Net worth: $106.4 B
Source: Berkshire Hathaway
Age: 92
Residence: Omaha, Nebraska
Citizenship: U.S.
Known as the “Oracle of Omaha,” Warren Buffett is one of the most successful investors of all time. He runs investing conglomerate Berkshire Hathaway, which owns dozens of companies, including insurer Geico, battery maker Duracell and restaurant chain Dairy Queen. The son of a U.S. congressman, he first bought stock at age 11 and first filed taxes at age 13.
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. Buffett has said he would donate 99% of his fortune. So far he’s donated $51.5 billion in Berkshire Hathaway stock to the Gates Foundation and his kids’ foundations. That makes him the most generous billionaire on the planet.
6. Bill Gates
Graham Denholm/Getty Images
Net worth: $104.9 B
Source: Microsoft, investments
Age: 67
Residence: Medina, Washington
Citizenship: U.S.
As a teenager, Gates became passionate about computer programming. He dropped out of Harvard to cofound software firm Microsoft with his high school friend Paul Allen in 1975–creating one of the first software programs available for the nascent personal computer industry. He was CEO of the company for 25 years and remained chairman until 2014. He eventually stepped off the board in 2020. These days he has investments in dozens of companies including Republic Services ad Deere & Co., and is one of the largest owners of farmland in the U.S.
Forbes first listed Gates as a billionaire in 1987; he was the richest person in the world from 1995 through 2017 (except in 2008 and from 2010 through 2013). Largely due to the $59 billion he has donated to the Gates Foundation, including a $20 billion gift in July 2022 he was overtaken as the world’s richest person in 2018 by Jeff Bezos. He and Melinda French Gates divorced in 2021; she received at least $6 billion in stock as part of the divorce settlement.
7. Carlos Slim Helu
Joe Raedle/Getty Images
Net worth: $89.9 B
Source: telecom, investments
Age: 83
Residence: Mexico City
Citizenship: Mexico
Carlos Slim Helu and his family control América Móvil, Latin America’s biggest mobile telecom firm, with operations in at least 15 countries. Slim and some foreign telecom partners acquired Telmex, the government-owned phone company, in 1990. Telmex became a part of América Móvil.
He also owns stakes in Mexican construction, consumer goods, mining and real estate companies. He used to own 17% of the New York Times, but sold the stake in 2021.
Slim overtook Bill Gates and Warren Buffett to become the world’s richest person from 2010 to 2013. Before going into business, Slim taught algebra at UNAM, a university in Mexico City.
8. Mukesh Ambani
Chris Jackson/Getty Images
Net worth: $83.3 B
Source: petrochemicals, telecommunications
Age: 65
Residence: Mumbai, India
Citizenship: India
Mukesh Ambani chairs and runs $104 billion (revenue) Reliance Industries, which has interests in petrochemicals, oil and gas, telecom and retail. It owns Network18, a licensee of Forbes Media, and the Mandarian Oriental hotel in New York. Reliance was founded by his late father Dhirubhai Ambani, a yarn trader, in 1966 as a small textile manufacturer. After his father’s death in 2002, Ambani and his younger sibling Anil divvied up the family empire.
Ambani was India’s richest person for 14 years until he was overtaken by Gautam Adani in February 2022; in February 2023, as Adani’s fortune fell, Ambani once again became India’s richest. Historically, Ambani ranked among the world’s top 10 richest on Forbes’ global rankings between 2008 and 2011 and again starting in 2021.
9. Steve Ballmer
Photo by Michael Cohen/Getty Images for The New York Times
Net worth: $80.9 billion
Source: Microsoft, investments
Age: 66
Residence: Hunts Point, Washington
Citizenship: U.S.
Ballmer, a classmate of Bill Gates at Harvard University, ran Microsoft as its CEO from 2000 to 2014. He had joined Microsoft as employee number 30 in 1980 after dropping out of the MBA program.
The year that Ballmer retired from Microsoft, he purchased the Los Angeles Clippers team for $2 billion—a record high for an NBA team at the time.
10. Françoise Bettencourt Meyers
Pascal Le Segretain/Getty Images
Net worth: $80.7 billion
Source: L’Oreal
Age: 69
Residence: Paris, France
Citizenship: France
Francoise Bettencourt Meyers, granddaughter of the founder of cosmetics giant L’Oreal, is the richest woman in the world. Bettencourt Meyers and her family own around 33% of L’Oreal stock. She has served on L’Oreal’s board since 1997 and is chairwoman of the family holding company.
Bettencourt Meyers inherited her fortune in 2017 after the death of her mother, Liliane Bettencourt. She serves as president of her family’s philanthropic foundation, which encourages progress in science and the arts.
