The 10 Richest People In the World

 

1. Elon Musk

• Age: 49
  
• Residence: Austin, Texas
• Co-founder and CEO: Tesla 
• Net Worth: $197 billion
• Tesla Ownership Stake: 20% ($141 billion)
• Other Assets: Space Exploration Technologies ($18.7 billion private asset)3

The current richest man in the world, Elon Musk has had his hands in several different companies over the years.2 Originally enrolled at Stanford University, Musk deferred his attendance to launch Zip2, one of the earliest online navigation services.4 6 A portion of the proceeds from this endeavor were then reinvested to create X.com, an online payment system that later became PayPal. While both of these systems were eventually sold to other companies, Musk has maintained his status as CEO and lead designer of his third project, Space Exploration Technologies (SpaceX), which aims to make space exploration more affordable.7

In 2004, Musk became a major funder of Tesla Motors (now Tesla), which led to him being retroactively declared a co-founder and his current position as CEO of the electric vehicle company.5 7 In addition to its line of electric automobiles—which include sedans, sport utility vehicles (SUVs), and the "Cybertruck" announced in 2019—Tesla also produces energy storage devices, automobile accessories, merchandise, and, through its acquisition of SolarCity in 2016, solar power systems.6 8 In 2020, Telsa's stock price experienced an astronomical surge, having risen 705% from the start of the year to mid-December.9 It joined the S&P 500 that same month, the largest company added thus far.10

Image courtesy Getty Images/Saul Martinez.

In 2016, Musk founded two more companies, Neuralink and The Boring Company, with him serving as the CEO of the former.6 11 12 Neuralink is developing brain-machine interface devices to help individuals suffering from paralysis and potentially allow users to mentally interact with their computers and mobile devices.13 The Boring Company, meanwhile, develops boring machines for the purpose of drilling tunnels for underground public transportation systems, which would mitigate traffic congestion in major cities.14 It also (briefly) sold a handheld flamethrower.15

2. Jeff Bezos

• Age: 5716
• Residence: Seattle, Wash.17
• Founder and CEO: Amazon (AMZN)17
• Net Worth: $182 billion16
• Amazon Ownership Stake: 11.1% ($165 billion)16
• Other Assets: Blue Origin ($7.15 billion private asset) and $9.55 billion in cash16

In 1994, Jeff Bezos founded Amazon.com in a garage in Seattle, shortly after he resigned from the hedge fund giant D.E. Shaw.16 18 In fact, he had originally pitched the idea of an online bookstore to his former boss David E. Shaw, who wasn't interested.19

Though Amazon.com originally started out selling books, it has since morphed into a one-stop-shop for everything under the sun, and is arguably the world's largest retailer.18 At any rate, it is hard to dispute its self-description as the "earth's most customer-centric company."20 Its pattern of constant diversification is evident in some of its unexpected expansions, which include acquiring Whole Foods in 2017 and launching its own branded over-the-counter drugs in Feb. 2018.21 22 In 2020, Amazon's share price skyrocketed on the heightened demand for online shopping as lockdowns forced consumers to stay home.23

Image courtesy Getty Images/Alex Wong.

Bezos originally took Amazon public in 1997 and went on to become the first man since Bill Gates in 1999 to achieve a net worth of more than $100 billion.24 25 Bezos's other projects include aerospace company Blue Origin; The Washington Post, which he purchased in 2013; and the 10,000-year clock, also known as the Long Now.16 26

3. Bill Gates

• Age: 6527
• Residence: Medina, Wash.28
• Co-Founder: Microsoft Corp. (MSFT)28
• Net Worth: $132 billion27
• Microsoft Ownership Stake: 1.3% ($22 billion)27
• Other Assets: Cornerstone Building Brands equity ($11.3 billion public asset), Republic Services equity ($10.2 billion public asset), John Deere equity ($9.31 billion public asset), Ecolab equity ($6.47 billion public asset), Givaudan equity ($4.42 billion public asset), FEMSA equity ($2.11 billion public asset), Waste Management equity ($1.67 billion public asset), Berkshire Hathaway equity ($1.52 billion public asset), Diageo equity ($1.45 billion public asset), AutoNation equity ($1.37 billion public asset), Arch Capital Group equity ($1.20 billion public asset), Sika AG equity ($1.19 billion public asset), Signet Jewelers equity ($696 million public asset), Televisa equity ($260 million public asset), Vroom equity ($249 million public asset), Liberty Global equity ($216 million public asset), First Cobalt equity ($182 million public asset), Western Asset/Claymore Inflation-Linked Opportunities & Income Fund equity ($167 million public asset), Otter Tail Corporation equity ($145 million public asset), Coca-Cola FEMSA equity ($121 million public asset), Western Asset/Claymore Inflation-Linked Opportunities & Income Fund equity ($89.3 million public asset), Owens Corning equity ($38.8 million public asset), and $55.1 billion in cash27

While attending Harvard University in 1975, Bill Gates went to work alongside his childhood friend Paul Allen to develop new software for the original microcomputers. Following this project's success, Gates dropped out of Harvard in his junior year and went on to found Microsoft with Allen.29

In addition to being the the largest software company in the world, Microsoft also produces its own line of personal computers, publishes books through Microsoft Press, provides email services through its Exchange server, and sells video game systems and associated peripheral devices.30 31 32 Originally Microsoft's chief software architect, Gates later transitioned to the role of the chairman in 2008. He had joined Berkshire Hathaway's board in 2004.33 34 He later stepped down from both boards on March 13, 2020.35 36

Image courtesy Getty Images/Jack Taylor.

In 2000, Gates' two philanthropic organizations—the William H. Gates Foundation and the Gates Learning Foundation—were merged to create the Bill & Melinda Gates Foundation, of which he and his wife, Melinda Gates, are co-chairs.33 Through the foundation, he has spent billions to fight polio and malaria.37 Additionally, he pledged $50 million in 2014 to help fight Ebola. In 2020, the foundation promised to spend $300 million to combat the COVID-19 pandemic.38 In 2010, alongside Warren Buffet, Bill and Melinda launched the Giving Pledge, a campaign encouraging rich individuals to commit to donating the majority of their wealth to philanthropic causes.39

4. Bernard Arnault

• Age: 7140
• Residence: Paris, France41
• CEO and Chairman: LVMH (LVMUY)41
• Net Worth: $109 billion40
• Christian Dior Ownership Stake: 97.5% ($92.8 billion)40
• Other Assets: Moelis & Company equity ($18.9 billion public asset), Hermès equity ($2.12 billion public asset), Carrefour equity ($1.30 billion public asset), and $4.50 billion in cash.

French national Bernard Arnault is the chairman and CEO of LVMH, the world's largest luxury goods company.40 41 This business owns some of the biggest brands on earth, including Louis Vuitton, Hennessey, Marc Jacobs, Sephora, and many more.42 The majority of his wealth, however, actually comes from his massive stake in Christian Dior SE, the holding company that controls 41.2% of LVMH.43 His shares in Christian Dior SE, plus an additional 6.2% in LVMH, are held through his family-owned holding company Group Arnault S.E.40 44

An engineer by training, Arnault's business chops became apparent while working for his father's construction firm, Ferret-Savinel, which he would take control of in 1971.44 He later converted Ferret-Savinel to a real estate company named Férinel Inc. in 1979.45

Image courtesy Getty/Christophe Morin.

Arnault remained Férinel's chairman for another six years, until he acquired and reorganized luxury goods maker Financière Agache in 1984, eventually selling all of its holdings other than Christian Dior and Le Bon Marché.46 He was invited to invest in LVMH in 1987 and became the majority shareholder, chairman of the board, and CEO of the company two years later.44

5. Mark Zuckerberg

• Age: 3647
• Residence: Palo Alto, Calif.48
• Co-founder, CEO, and Chairman: Facebook48 49
• Net Worth: $95.6 billion47
• Facebook Ownership Stake: 13% ($92.5 billion)47
• Other Assets: $2.88 billion in cash and $225 million in real estate47

Mark Zuckerberg first developed Facebook alongside fellow students Eduardo Saverin, Dustin Moskovitz, and Chris Hughes while attending Harvard University in 2004.49 As Facebook began to be used at other universities, Zuckerberg dropped out of Harvard to focus entirely on his growing business.47 50 Today, Zuckerberg is the CEO and chairman of Facebook, which had more than 2.7 billion monthly active users as of Q3 2020.51 52

Facebook is the world's largest social networking service, enabling its users to create a personal profile, connect with friends and family, join or create groups, and much more. As the website is free to use, most of the company's revenue is generated through advertising.49 Facebook (the company) is also host to several other brands, including photo-sharing app Instagram, which it acquired in 2012; cross-platform mobile-messaging service WhatsApp and virtual-reality–headset producer Oculus, both acquired in 2014; Workplace, its enterprise-connectivity platform; Portal, its line of video-calling devices; and Novi, its digital wallet for the Diem payment system.53 54 55 56 57 58

Image courtesy Getty Images/Paul Marotta.

Zuckerberg and his wife, Priscilla Chan, founded the Chan Zuckerberg Initiative in 2015, with each of them serving as co-CEO. Their charity seeks to leverage technology in order to fix societal ills, such as improving the access and quality of education, reforming both the criminal justice system and the United States immigration system, improving housing affordability, and eventually eradicating all diseases.52 59

6. Warren Buffett

• Age: 9060
• Residence: Omaha, Neb.61
• CEO: Berkshire Hathaway (BRK.A)61
• Net Worth: $88.3 billion60
• Berkshire Hathaway Ownership Stake: 38% ($87.1 billion)60
• Other Assets: $1 billion in cash60

The most famous living value investor, Warren Buffett filed his first tax return in 1944 at age 14, declaring his earnings from his boyhood paper route.62 He first bought shares in a textile company called Berkshire Hathaway in 1962, becoming the majority shareholder by 1965.60 63 He expanded the company to insurance and other investments in 1967.64 Now, Berkshire Hathaway is a half-trillion-dollar company, with a single share of stock trading at more than $350,000 per share in early 2021.65

Widely known as "The Oracle of Omaha," Buffett made the majority of his fortune through purchasing shares in companies with easy-to-understand business operations.60 61 While many investors have been piling into tech companies, Buffett has opted for a more cautious approach, only buying from well-established companies that are easier to understand, such as IBM and Apple.66 67 He is also a noted Bitcoin skeptic.68 Additionally, Buffett has also outright purchased a lengthy list of companies over the years, including Dairy Queen, Duracell, Geico, and Kraft Heinz.60 69

Image courtesy Getty Images/Alex Wong.

Outside of investing, Buffet has directed much of his wealth toward philanthropic endeavors. Between 2006 and 2020, Buffett gave away $41 billion—the majority of which either went to the Bill & Melinda Gates Foundation or to his children's charities.60 Buffett launched the Giving Pledge alongside Bill and Melinda Gates in 2010.39

7. Zhong Shanshan

• Age: 6670
• Residence: Hangzhou, China71
• Founder, Chairman, Executive Director, and General Manager: Nongfu Spring (NNFSF)72
• Net Worth: $84.7 billion70
• Nongfu Spring Ownership Stake: 84% ($76.5 billion)70
• Other Assets: Beijing Wantai Pharmacy Enterprise equity ($13.7 billion public asset) and $1.30 billion in cash70

Despite making his fortune in the beverage industry, Zhong Shanshan originally got his start in the workforce as a construction worker, before becoming a reporter during the 1980s. Later, as a beverage sales agent, he went on to establish a bottled water distributing business in Hainan.73 Zhong founded his first business, health products company Yangshengtang, in 1993.70

Three years later, Zhong founded Nongfu Spring, a bottled water manufacturer, though it would later expand to other beverage products, such as coffee, and food products, like rice and yogurt.70 74 75 76 By 2012, Nongfu Spring had become the largest bottled water company in all of China. In 2019, it became one of the top three producers of bottled tea and juice in the Chinese market.77

Image courtesy Nongfu Spring.

Zhong also acquired a majority stake in China's largest infectious diseases diagnostics company Wantai in 2001, with its Beijing plant being the biggest manufacturing base of diagnostic medical devices in the entire country.78 79 In Jan. 2021, he stepped down from Wantai's board due to personal reasons.70

8. Larry Page

• Age: 4780
• Residence: Palo Alto, Calif.81
• Co-founder and Board Member: Alphabet (GOOG)81
• Net Worth: $81.7 billion80
• Alphabet Ownership Stake: 6% ($69.2 billion)80
• Other Assets: $12.5 billion in cash80

Like several tech billionaires on this list, Larry Page's claim to fame got its start in a college dorm room. While attending Stanford University in 1995, Page and his friend Sergey Brin came up with the idea of improving data extraction capabilities while accessing the Internet. The duo devised a new type of search engine technology they dubbed "BackRub," named after its ability to analyze "backing links." From there, Page and Brin went on to found Google in 1998, with the former serving as CEO of the company until he stepped down in 2001.80 82

Google is one of the largest Internet search engines on the planet, accounting for more than 70% of global online search requests.83 In 2006, Google (the company) expanded by purchasing Youtube, the biggest platform for user-submitted videos.82 Then, 2008 saw the release of the first mobile phone utilizing the Android operating system, which was originally developed by Android Inc. prior to Google acquiring the company in 2005.84 85 Today, Google is a subsidiary of Alphabet, a holding company for which Page served as CEO between 2015–2019.82

Image courtesy Getty Images/Justin Sullivan.

Page is also a founding investor of Planetary Resources, a space-exploration and asteroid-mining company.81 Originally established in 2009, the company was acquired by blockchain firm ConsenSys in 2018 amid funding problems.86 87 He has also shown an interest in "flying car" companies, having invested in both Kitty Hawk and Opener.81

9. Sergey Brin

• Age: 4788
• Residence: Los Altos89
• Co-founder and Board Member: Alphabet (GOOG)89
• Net Worth: $79.1 billion88
• Alphabet Ownership Stake: 5% ($66.5 billion)88
• Other Assets: $12.6 billion in cash88

What makes Google unique, compared to the other companies featured on this list, is that its co-founders are relatively close in terms of total wealth. Sergey Brin's involvement in Google follows a similar path to Page's. After the duo founded in the company in 1998, Brin served as co-president alongside Page until Eric Schmidt took over as CEO in 2001. Similarly, after founding Alphabet in 2015, Brin acted as the holding company's president before stepping down in 2019 when Sundar Pichai took over as CEO.90 91

In addition to being a highly popular search engine, Google also offers a suite of online tools and services, known as Google Workplaces, which includes Gmail, Google Drive, Google Calendar, Google Meet, Google Chat, Google Docs, Google Sheets, Google Slides, and more.92 In addition to software, Google also deals in a wide variety of electronic devices, including its Pixel smartphones, its Pixelbook computers and tablets, its Nest smart home devices, and its Stadia gaming platform.93 94 95 96

Image courtesy Getty Images/Tim Mosenfelder.

Brin spent much of 2019 focusing on X, Alphabet's "moonshot" research laboratory, which is responsible for innovative technologies like the Waymo self-driving cars and Google Glass smart glasses.89 97 He has also donated millions of dollars toward researching a cure for Parkinson's, having partnered with the The Michael J. Fox Foundation to devise new drugs against LRRK2, one of the the greatest genetic contributors to the disease.98

10. Larry Ellison

• Age: 7699
• Residence: Woodside, Calif.100
• Co-founder, CTO, and Chairman: Oracle (ORCL)100
• Net Worth: $79.1 billion99
• Oracle Ownership Stake: 35.4% ($51.5 billion)99 100
• Other Assets: Tesla equity ($12.5 billion public asset) and $14.3 billion in cash99

After dropping out of the University of Chicago in 1966, Larry Ellison moved to California and worked as a computer programmer for several companies over the years.99 First, in 1973, he was an employee of the electronics company Ampex, where he met his future partners Ed Oates and Bob Miner. Three years later, Ellison joined Precision Instruments, serving as the company's vice president of research and development. By 1977, Ellison had founded Software Development Laboratories (SDL) alongside Oates and Miner, which, two years later, released Oracle, the first commercial relational database program to utilize Structured Query Language.101 The database program proved so popular that SDL would change its name to Oracle Systems Corporation in 1982.101 Additionally, Ellison joined Tesla's board in Dec. 2018.102

Oracle is the second largest software company and provides a wide variety of cloud computing programs as well as other software, such as Java and Linux, and the Oracle Exadata computing platform.30 103 104 105 The business has also grown through the acquisition of several major companies, including human-resources-management–systems provider PeopleSoft in 2005, customer-relationship-management–applications provider Siebel in 2006, enterprise-infrastructure–software provider BEA Systems in 2008, and hardware-and-software developer Sun Microsystems in 2010.101 106 107 108 109

Image courtesy Getty Images/Phillip Faraone.

Ellison has spent millions in luxury real estate over the last decade, predominantly in California. Likely his most impressive expenditure, Ellison bought nearly the entire Hawaiian island of Lanai for $300 million, building a hydroponic farm and luxury spa there.100 He has also donated millions of dollars to charitable causes over the years, particularly to medical research.99 Most recently, in 2016, Ellison gave $200 million to the University of Southern California for a new cancer research center.100 110

Courtesy : https://www.investopedia.com/