Top 10 Richest People in the World Billionaires have a significant impact on the global economy, politics, and philanthropic endeavors. According to Forbes, there were 2,640 billionaires worldwide in 2023. Elon Musk, the CEO of Tesla and SpaceX, and owner of X (previously known as Twitter), is the richest among them. The individuals included in this list belong to an even more exclusive group and possess even greater influence. Many of them are the creators of technology giants and still have a significant portion of their wealth tied up in the companies they founded.
However, these billionaires still have the option to borrow against their wealth instead of selling stock, thus allowing them to delay or even eliminate taxes on unrealized capital gains. Additionally, multi-billionaires can utilize various tax deductions to offset their reported income, resulting in some individuals on this list paying no income tax in recent years. Due to the majority of their wealth being invested in publicly traded stocks, the net worth of the richest individuals fluctuates in accordance with market valuations of the companies they possess. Below is a list of the ten wealthiest people globally, as stated by the Bloomberg Billionaires Index. All information is current as of October 4th, 2023.
Top Billionaires & Richest Man In The World
The world of billionaires is a fascinating one, filled with individuals who have amassed unimaginable wealth. Topping the list of the richest men in the world is currently Elon Musk, the visionary entrepreneur behind companies like Tesla and SpaceX. His net worth is estimated to be in the billions, thanks to his groundbreaking innovations and success in the tech industry. Following closely behind is Jeff Bezos, the founder of Amazon, whose empire has made him one of the wealthiest individuals on the planet.
Other notable names on the list include Bill Gates, Warren Buffett, and Mark Zuckerberg. These billionaires have not only achieved extraordinary financial success but have also made significant contributions to various industries and philanthropic endeavors. Their stories serve as inspiration for aspiring entrepreneurs and remind us of the immense potential for success that exists in our rapidly changing world.
Key Takeaways
- Elon Musk; CEO of Tesla and SpaceX, and owner of X, is the richest person and the richest man in the world with a net worth of $228 billion.
- After Musk is the chairman of LVMH, Bernard Arnault.
- Other billionaires with some of the largest net worths include Amazon founder Jeff Bezos, Microsoft’s Bill Gates, and Oracle’s Larry Ellison.
- Eight of the top 10 billionaires made their fortunes in technology, with Arnault and Berkshire Hathaway’s Warren Buffett being the exceptions.
Top 10 Richest People Economy Effect On World
The economic impact of the world’s richest individuals cannot be underestimated. The top 10 richest people in the world have a combined net worth that exceeds the GDP of many countries. Their wealth not only contributes to their own personal influence and power, but it also has a significant effect on the global economy. These individuals are often major investors, job creators, and philanthropists, shaping industries and economies around the world.
Their financial decisions can sway markets, influence policies, and even impact international relations. While there are debates about income inequality and the concentration of wealth in the hands of a few, there is no denying that the actions of the world’s richest individuals have far-reaching consequences for the global economy as a whole.
Who Are the Top 10 Richest People in the World?
The top 10 richest people in the world as of Oct. 4, 2023, are:
- Elon Musk
- Bernard Arnault
- Jeff Bezos
- Bill Gates
- Larry Ellison
- Larry Page
- Warren Buffett
- Sergey Brin
- Steve Ballmer
- Mark Zuckerberg
1. Elon Musk
- Age: 52
- Residence: United States
- Co-founder and CEO: Tesla
- Net Worth: $228 billion
- Tesla Ownership Stake: 13% ($101 billion)
- X Ownership Stake: 79% ($10.2 billion)
- Other Assets: Space Exploration Technologies ($53.2 billion private asset), The Boring Company ($3.33 billion private asset)
Globally Wealthiest Title
Elon Musk, who hails from South Africa, holds the title of the wealthiest individual globally. Having completed his early education in Canada, he later transferred to the University of Pennsylvania, where he successfully obtained bachelor’s degrees in both physics and economics. Shortly after enrolling in a graduate physics program at Stanford University, Musk decided to defer his attendance to embark on the launch of Zip2, an early online navigation service. With a portion of the profits from this venture, he then went on to establish X.com, an online payment system that was eventually sold to eBay (EBAY) and transformed into PayPal Holdings (PYPL).
Musk assumed the role of a significant financial supporter of Tesla Motors (now known as Tesla) in 2004, ultimately resulting in his current position as the CEO of the electric vehicle company. Besides manufacturing electric cars, Tesla is involved in the production of energy storage devices, automotive accessories, and solar power systems following its acquisition of SolarCity in 2016. Additionally, Musk serves as the CEO and chief engineer of Space Exploration Technologies (SpaceX), a company specializing in the development of space launch rockets.
Tesla became a part of the S&P 500 in December 2020, making it the biggest company to be included. Additionally, in January 2021, Musk attained the status of the wealthiest individual globally, a position that has been influenced by the fluctuating value of Tesla.
Musk initiated a campaign in April 2022 to privatize X, resulting in a $44 billion acquisition. Musk intended to finance the transaction with $21 billion of his own funds. Leading up to the announcement of the acquisition, Musk sold approximately $8.5 billion worth of Tesla shares, totaling 9.6 million shares. In July 2022, Musk opted out of the acquisition, prompting the company to file a lawsuit compelling him to proceed with the buyout. Musk countersued but ultimately changed his mind and expressed his willingness to proceed with the purchase. The deal was officially finalized in October 2022, granting him a 79% ownership stake in the company.
2. Bernard Arnault
- Age: 74
- Residence: France
- CEO and Chair: LVMH
- Net Worth: $164 billion
- Christian Dior Ownership Stake: 97.5% ($126 billion total)
- Other Assets: Moelis & Company equity ($25.1 billion public asset) and $12 billion in cash
Chairperson & CEO AT LVMH
Bernard Arnault, a French citizen, holds the positions of chairperson and CEO at LVMH, which is recognized as the largest luxury goods company globally. Some of the prominent brands under the LVMH umbrella include Louis Vuitton, Hennessey, Marc Jacobs, and Sephora. A significant portion of Arnault’s wealth stems from his substantial ownership in Christian Dior SE, a holding company that commands 41.4% control over LVMH. He holds shares in Christian Dior SE as well as an additional 6.2% stake in LVMH through his family-owned holding company called Groupe Familial Arnault.
An engineer by training, Arnault first showed his business acumen while working for his father’s construction firm, Ferret-Savinel, taking charge of the company in 1971. He converted Ferret-Savinel to a real estate company named Férinel Inc. in 1979.
Arnault remained Férinel’s chair for another six years, until he acquired and reorganized luxury goods maker Financière Agache in 1984, eventually selling all its holdings other than Christian Dior and Le Bon Marché. He was invited to invest in LVMH in 1987 and became the majority shareholder, chair of the board, and CEO of the company two years later.
3. Jeff Bezos
- Age: 59
- Residence: United States
- Founder and Executive Chair: Amazon
- Net Worth: $150 billion
- Amazon Ownership Stake: 10% ($124 billion)
- Other Assets: Blue Origin ($11.2 billion private asset), The Washington Post ($250 million private asset), Koru ($500 million private asset), and $13 billion in cash
Amazon.com Established
Jeff Bezos established Amazon.com in 1994 after leaving D.E. Shaw, a prominent hedge fund company. Initially, he proposed the concept of an online bookstore to his former employer David E. Shaw, who showed no interest. Although Amazon’s primary focus was initially on selling books, it has evolved into a comprehensive marketplace for various products and is projected to surpass Walmart as the largest global retailer by 2024. Amazon’s continuous expansion can be seen through its unexpected ventures such as the acquisition of Whole Foods in 2017 and its entry into the pharmacy industry during the same year.
Before the divorce proceedings, Bezos owned up to 16% of Amazon in 2019. As part of their divorce, he transferred 4% to his former wife, MacKenzie Scott. Due to the increased demand for online shopping during the COVID-19 pandemic, Amazon’s share price rose by 76% in 2020. On July 5, 2021, Bezos transitioned from being the CEO of the e-commerce giant to serving as its executive chair.
In 1997, Bezos took Amazon public and became the first person since Bill Gates in 1999 to amass a net worth exceeding $100 billion. In addition to Amazon, Bezos is involved in various other projects such as Blue Origin (an aerospace company), The Washington Post (which he acquired in 2013), and the Long Now (also known as the 10,000-year clock).
Bezos, along with his brother Mark, aviation pioneer Wally Funk, and Dutch student Oliver Daemen, achieved Blue Origin’s inaugural crewed flight on July 20, 2021. They safely reached an altitude exceeding 66 miles before returning. During that same month, Bezos’ wealth reached its highest point at $213 billion. In 2023, Bezos acquired the superyacht Koru for a sum of $500 million.
4. Bill Gates
- Age: 67
- Residence: United States
- Co-founder: Microsoft
- Net Worth: $122 billion
- Microsoft Ownership Stake: 1.4% ($20.3 billion)
- Other Assets: $60.2 billion in cash and billions over multiple other companies
Founder Of Microsoft
In 1975, during his time at Harvard University, Bill Gates collaborated with his childhood friend Paul Allen to create innovative software for the original microcomputers. After the project achieved great success, Gates decided to leave Harvard in his third year and establish Microsoft alongside Allen. Microsoft, recognized as the leading software company globally, offers a range of personal computers and operates an email service through its exchange server. Additionally, it manufactures video game systems and related devices. Recently, Microsoft has made significant investments in cloud services.
In 2008, Gates transitioned from being the CEO of the company to taking on the position of board chair. In 2004, he became a member of Berkshire Hathaway’s board. However, on March 13, 2020, he resigned from both boards. Cascade Investment LLC holds a significant portion of Bill Gates’ net worth. This privately-owned investment entity possesses a diverse portfolio that includes stocks like Canadian National Railway (CNR), Deere (DE), and Republic Services (RSG). Additionally, it has made private investments in real estate and energy.
5. Larry Ellison
- Age: 79
- Residence: United States
- Co-founder, Chair, and CTO: Oracle
- Net Worth: $122 billion
- Oracle Ownership Stake: 42%+ ($87.7 billion)
- Other Assets: Tesla equity ($11.1 billion public asset), $20.2 billion in cash
Computer Programmer
Larry Ellison, who was born in New York City to a single mother at the age of 19, relocated to California after leaving the University of Chicago in 1966. Once there, he found employment as a computer programmer. In 1973, Ellison became associated with Ampex, an electronics company, where he crossed paths with his future partners Ed Oates and Bob Miner. Three years later, Ellison took on the role of Precision Instruments’ vice president of research and development.
Ellison, together with Oates and Miner, established Software Development Laboratories in 1977. After two years, the company introduced Oracle, which was the initial commercial relational database software to utilize Structured Query Language. The program gained immense popularity, leading SDL to rebrand itself as Oracle Systems Corporation in 1982. Ellison relinquished his position as CEO of Oracle after a remarkable tenure of 37 years in 2014. He became a member of Tesla’s board in December 2018 and resigned from the position in June 2022.
Oracle is a global software company that ranks second in terms of size. It offers an extensive range of cloud computing programs, as well as Java and Linux code, and the Oracle Exadata computing platform. Throughout its history, Oracle has made several significant acquisitions, including Sun Microsystems and Cerner. Ellison’s philanthropic efforts primarily center around medical research. In 2016, he generously donated $200 million to establish a state-of-the-art cancer research center at the University of Southern California. Additionally, Ellison provided support to the Oracle Team USA sailing team, which emerged victorious in both the 2010 and 2013 America’s Cup racing series.
6. Larry Page
- Age: 50
- Residence: United States
- Co-founder and Board Member: Alphabet
- Net Worth: $121 billion
- Alphabet Ownership Stake: 6% ($103.5 billion total)
- Other Assets: $15.3 billion in cash
Google Owner
Similar to many other tech billionaires on this list, Larry Page began his journey to fame and wealth while residing in a college dorm room. During his time at Stanford University in 1995, Page and his friend Sergey Brin conceived the idea of enhancing Internet data extraction. The pair developed a novel search engine technology called Backrub due to its ability to evaluate page links.
Following this, Page and Brin went on to establish Google in 1998, with Page serving as the company’s CEO from 2001 to 2011 and again from 2011 to 2019. Google is the dominant Internet search engine worldwide, responsible for over 92% of global search requests. In 2006, the company acquired YouTube, the leading platform for user-submitted videos.
Google launched the Android mobile phone operating system in 2008 after the acquisition of Android in 2005. In 2015, Google underwent a reorganization and became a subsidiary of Alphabet, a holding company. Page was an early investor in Planetary Resources, a space exploration and asteroid-mining company founded in 2009. Due to funding issues, the company was acquired by blockchain firm ConsenSys in 2018. Page has also displayed an interest in flying car companies and has invested in both Kitty Hawk and Opener. However, Kitty Hawk ceased operations in 2022.
7. Warren Buffett
- Age: 93
- Residence: United States
- CEO: Berkshire Hathaway
- Net Worth: $115 billion
- Berkshire Hathaway Ownership Stake: 15% ($114 billion)
- Other Assets: $1.20 billion in cash
Berkshire Hathaway Owner
At the age of 14, Warren Buffett, the renowned value investor, submitted his initial tax return in 1944, disclosing the income he earned from his childhood paper route. In 1962, he made his first purchase of shares in a textile company named Berkshire Hathaway and gradually became the majority shareholder by 1965. In 1967, Buffett expanded the company’s investments to include insurance and various other sectors.
Buffett, widely recognized as the Oracle of Omaha, is an investor who follows a buy-and-hold strategy and amassed his wealth through the acquisition of undervalued companies. Recently, Berkshire Hathaway has made investments in prominent and well-established companies. Its portfolio comprises wholly owned subsidiaries that have interests in insurance, energy distribution, railroads, and consumer products.
Buffett has generously contributed a significant portion of his fortune to charitable causes. Over the period from 2006 to 2020, he donated a remarkable $41 billion, with the majority going to the Bill & Melinda Gates Foundation and organizations benefiting his children. In collaboration with Bill Gates, Buffett initiated the Giving Pledge in 2010. Despite being 93 years old, Buffett continues to hold the position of CEO. However, in 2021, he announced that Gregory Abel, who leads Berkshire’s non-insurance operations, is likely to be his successor.
8. Sergey Brin
- Age: 50
- Residence: United States
- Co-founder and Board Member: Alphabet
- Net Worth: $115 billion
- Alphabet Ownership Stake: 6% ($97.3 billion total)
- Other Assets: $15.4 billion in cash
Google’s President
Sergey Brin, who was born in Moscow, Russia, relocated to the United States with his family at the age of six in 1979. After co-founding Google alongside Larry Page in 1998, Brin assumed the role of Google’s president of technology when Eric Schmidt assumed the position of CEO in 2001. He maintained this position at the Alphabet holding company after its establishment in 2015, but resigned in 2019 following Sundar Pichai’s appointment as CEO.
Google, apart from being a leading internet search engine, provides an array of online tools and services called Google Workspace. This suite includes popular applications such as Gmail, Google Drive, Google Calendar, Google Meet, Google Chat, Google Docs, Google Sheets, Google Slides, and more. Additionally, Google offers a range of electronic devices such as Pixel smartphones, computers, tablets, Nest smart home devices, and the Stadia gaming platform. In terms of philanthropy, Brin has made substantial donations to Parkinson’s disease research by collaborating with The Michael J. Fox Foundation.
9. Steve Ballmer
- Age: 67
- Residence: United States
- Owner: Los Angeles Clippers
- Net Worth: $111 billion
- Microsoft Ownership Stake: 4% ($100 billion total)
- Other Assets: Los Angeles Clippers ($3.73 billion private asset), The Forum ($400 million private asset), Intuit Dome ($2 billion private asset), $3.35 billion in cash
Microsoft CEO
After being convinced by Bill Gates to leave Stanford University’s MBA program, Steve Ballmer became a part of Microsoft in 1980. He became the company’s 30th employee and later took over as CEO in 2000, succeeding Gates. Ballmer remained in this position until his resignation in 2014. During his tenure, he was responsible for overseeing Microsoft’s acquisition of Skype for $8.5 billion in 2011. With an estimated ownership of 4%, Ballmer holds the largest individual stake in Microsoft, making him the software giant’s leading shareholder. Following his departure as CEO, Ballmer purchased the Los Angeles Clippers basketball team for $2 billion in 2014.
During their time at Harvard University, Ballmer and Bill Gates resided in the same dormitory and on the same floor. However, their close bond started to deteriorate when Ballmer, as the CEO of the tech company, began advocating for a shift towards hardware products like the Surface tablet and Windows mobile phone.
10. Mark Zuckerberg
- Age: 39
- Residence: United States
- CEO and Chair: Meta Platforms
- Net Worth: $111 billion
- Meta Platforms Ownership Stake: 13% ($106 billion total)
- Other Assets: $3.75 billion in cash73
Facebook Founder
In 2004, Mark Zuckerberg co-founded Facebook (now known as Meta) with his fellow Harvard University students Eduardo Saverin, Dustin Moskovitz, and Chris Hughes. As Facebook started gaining popularity at various universities, Zuckerberg made the decision to leave Harvard and devote all his attention to the expanding business. Presently, Zuckerberg serves as the CEO and chairman of Meta, which had a user base of 3 billion active users per month in Q2 of 2023.
Today New Updated Richest Person List
The list of the richest people in the world is constantly changing, with new updates being released regularly. Keeping track of this information can be valuable for those interested in finance and business. These lists typically include individuals who have amassed vast fortunes through various means, such as entrepreneurship, investments, and inheritances. It can also serve as a source of inspiration for aspiring entrepreneurs and investors alike to study the success stories of these wealthy individuals and learn from their strategies.
Long Term Richest Person
Bill Gates is considered one of the wealthiest people in the world, with a net worth of over $130 billion as of 2021. He co-founded Microsoft in 1975 and served as its CEO until 2000, during which time he played a pivotal role in shaping the computer industry. After stepping down from his position at Microsoft, Gates has devoted much of his time and resources to philanthropic pursuits through the Bill & Melinda Gates Foundation. His long-term financial success can be attributed to his business acumen, innovation, and dedication to making a positive impact on the world.
Richest Man Update Resources
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In the latest update on the world’s richest individuals, our resources have revealed staggering new figures. Topping the list once again is Amazon founder and CEO, Jeff Bezos, whose net worth continues to soar to unprecedented heights. With his innovative business ventures and strategic investments, Bezos has solidified his position as the wealthiest person on the planet.
Following closely behind is Tesla and SpaceX CEO, Elon Musk, whose ambitious projects and relentless drive have catapulted him into the ranks of the ultra-rich. As our resources continue to track the fortunes of these remarkable individuals, it becomes clear that their wealth not only represents financial success but also serves as a testament to their extraordinary vision and entrepreneurial spirit.
Top Investors In Richest Man Of World
- Warren Buffett. Net worth: $103 Billion. Founder & CEO of Berkshire Hathaway. …
- Jim Simons. Net worth: $28.6 Billion. Founder of RenTech, a quantitative hedge fund. …
- Ken Griffin. Net worth: $27 Billion. …
- Ray Dalio. Net worth: $22 Billion. …
- Carl Icahn. Net worth: $17.5 Billion.
Today Top Richest Man Networth Change
Today, the net worth of the world’s top richest man has seen a significant change. With fluctuations in the stock market and global economic conditions, the fortunes of these individuals can vary greatly from day to day. However, it is important to note that net worth is not solely determined by monetary value, but also takes into account assets, investments, and other factors. The ever-changing landscape of wealth distribution highlights the dynamic nature of global economies and serves as a reminder that financial success is not always constant.
Who Is the World’s Richest Man in 2023?
Elon Musk, CEO of Tesla and SpaceX, holds the title of the world’s wealthiest individual as of October 4, 2023.
Who Is the Richest Woman in the World?
Francoise Bettencourt Meyers is currently recognized as the wealthiest woman globally, with a net worth of $82.4 billion as of October 4, 2023. Her immense wealth is primarily attributable to her significant ownership in L’Oréal, which happens to be the largest cosmetics company worldwide.
Bottom Line
Making it to the richest billionaires ranking requires a lot of hard work, creativity, and connections. One way to make it big is by becoming a technological innovator or luxury retail mastermind. Another option is to focus on value investing which involves identifying undervalued companies with strong potential for growth. While being born into wealth can provide an advantage, many of the wealthiest people on this list started with just a good idea and used their drive and creativity to build some of the world’s largest companies.
Innovation has been a key factor in many of these success stories, as entrepreneurs have developed groundbreaking products or services that revolutionize their industries. Moreover, having strong connections can help open doors and create opportunities that might not be available otherwise. Regardless of the approach taken, building wealth takes time, dedication, and perseverance. It requires taking calculated risks and being willing to learn from failures. Ultimately, success comes from a combination of factors, including talent, hard work, strategic thinking, and a bit of luck.