The world has been seeing an interesting trend when it comes to capitalism. In the 18th century, when France revolted against the rich with a guillotine, Jean-Jacques Rousseau famously said,“When the people shall have nothing more to eat, they will eat the rich.” Classism has infiltrated people with ridiculous amounts of money and made them billionaires. But now the bureaucratic answer to this excess wealth is taxing the rich, which US President Joe Biden has also approved. During the pandemic, when people were suffering universally, the rich like Elon Musk were busy getting richer. A report suggested that the world’s rich accumulated $10 trillion during the COVID-19 pandemic.
However, the picture has drastically changed after the pandemic. Many examples have emerged since 2022 that show the progression of these billionaires’ degenerating wealth. Though the global stock market bounced back, the post-pandemic effects were still visible. Jeff Bezos, the founder of Amazon, had his wealth hampered when Amazon’s shares were depleted by 38%. Another person, an artist, who lost a considerable amount of money was Kanye West. Due to his erratic behavior, anti-Semitism, and politically charged statements, the industry ostracized him. From $2 billion, his wealth fell to $400 million. Elon Musk’s Twitter deal proved to be fatal for his finances, making him lose $39 billion. However, many business moguls have emerged victorious, mainly from the fashion, telecom, and media industries.
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25) Phil Knight
The founder of one of the shoe giants in the world, Nike, Phil Knight, and his family, have earned billions despite losses in the pandemic. The pandemic depleted the company’s wealth by $790 million due to store closures and COVID-19’s impact on production in China. But, the family bounced back with a $46 billion net worth. Phil and his family are the major stakeholders in the company. Along with Nike, their business also expands to Jordan and Converse.
24) Gautam Adani
The Indian tycoon, Gautam Adani, was struck by a storm called the ‘Hindenburg Report.’ The multi-hyphenated Adani industries lost billions of dollars due to fraudulent business practices. Adani reaped the consequences of his crony capitalist actions, taking the plunge from $126 billion to $44.1 billion.
23) Michael Dell
The personal computer mogul, Michael Dell, was almost on the verge of becoming irrelevant. The PC market got inundated with competition. While many of his fellow billionaire competitors aimed at each Space, Dell decided to stay on planet Earth aiding these ventures with technological solutions and Artificial Intelligence. After revamping Dell into Dell Technologies, the mogul has accumulated a net worth of $52.2 billion after facing a $5 billion plunge.
22) David Thomson
While others lost some amount of their wealth, David Thomson and his family earned $5.2 billion in 2022. David Thomson and his family are third-generation media moguls. His grandfather, Roy Thomson, started various radio channels and newspapers in Northern Ontario launching the Thomson empire. David bought the newswire company, Reuters, for $17 billion. He is a co-chair at Woodbridge. The wealthiest family in Canada has made a variety of investments. The media moguls have a net worth of $58 billion.
21) Julia Koch
The widow of David Koch, one of the Koch brothers, Julia Koch, has inherited a 42% stake in the Koch industries along with her children. Koch Industries is another multi-hyphenated conglomerate with $125 billion in net worth. Koch Industries is the owner of many companies related to renewable energy, agriculture, chemicals, and many other ventures. Before marrying David, she was a designer. Julia currently is the owner of $59 billion.
20) Charles Koch
Charles Koch is the Co-CEO and Chairman of the Koch Industries. Like his sister-in-law, Charles also owns a 42% stake in the industry. His son has also been active in the family business. Recently, he invested in Neuralight, an AI-based neurological diagnosis firm. Koch’s net worth stands at $59 billion.
19) Alice Walton
The Walton heirs have taken three positions on the billionaires’ list. The Waltons are the biggest stakeholder in the retail industry with Walmart. Sam Walton, the founder, has three heirs—Jim Walton, Alice Walton, and Alice Walton. The only daughter, Alice Walton, has generated personal wealth through art collection and curation. In 2011, she founded the Crystal Bridges Museum of American Art. It features artworks of artists ranging from Norman Rockwell to Andy Warhol. Her net worth is $61.1 billion.
18) Rob Walton
The eldest among Sam Walton’s children, Rob Walton was the ex-chairman of Walmart after his father’s death. Along with his siblings and other heirs, he owns half of Walmart’s stocks. In 2022, Rob, along with his son and daughter-in-law purchased the NFL team, Denver Broncos for $4.65 billion. Rob Walton’s net worth is $62 billion.
17) Jim Walton
The youngest Walton is also the wealthiest! Jim Walton is serving as the chairman and CEO of Arvest Bank Group Inc. Along with his sister, he has pledged to help the Charter schools in America with facilities. Arvest’s asset is worth $20 billion. Jim Walton boasts a net worth of $63.3 billion.
16) Zhong Shanshan
One of the most inspiring rags-to-riches stories, Zhong Shanshan is the wealthiest individual in China. Shanshan had a tough journey climbing up the ladder, and becoming one of the richest people in the world. After working meager jobs, he founded Nongfu Spring, a bottled water company in 1996. He owns an 84% stake in the company. Shanshan also controls the infection testing company, Beijing Wantai Biological Pharmacy. Due to his ventures, he has accumulated $67 billion.
15) Mark Zuckerberg
It has been a tough few months for Meta and Mark Zuckerberg. After launching Facebook, which is now called Meta, in 2004, Zuckerberg revolutionized the social media space. However, he has had a bumpy ride with antitrust cases getting filed questioning the privacy policy of the platform. Mark owns 13% of the stock in Facebook. But, due to the failing Metaverse project and Artificial Intelligence taking over, around 21,000 employees have been laid off since November. Today, Mark has $77.1 billion of accumulated wealth.
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14) Amancio Ortega
Zara is one of the biggest fashion retailers in the world owned by Amancio Ortega. The Spanish business mogul co-founded Inditex, which has eight brands including Zara under them. Ortega owns 60% of Inditex. The profits for Zara have jumped by 27% performing far better than pre-pandemic. Currently, Inditex is focusing on higher capital expenditure investing in better logistics and security technologies. As per Forbes, Amancio receives $400 million in dividends every year. With this, he has earned $81.4 billion.
13) Sergey Brin
The co-founders of Google, Larry Page and Sergey Brin, are back at work after stepping down from their positions at Alphabet. It is the parent company of Google, which looks into the development of Artificial Intelligence. Since ChatGPT has been enabled, Google has been struggling to maintain its stature as the search engine pioneer. Brin sold $2.5 billion of Alphabet stocks and donated $1.1 billion. Brin has a net worth of $89.1 billion.
12) Françoise Bettencourt Meyers
The chairman of the luxury hair color and products brand, L’Oreal Paris, Françoise Bettencourt Meyers, is the richest woman in the world. Along with her family, she owns 33% of L’Oreal Paris’ stocks. She is also the president of the company’s philanthropy wing, Foundation L’Oreal. The net worth of Meyers and her family is $89.6 billion.
11) Mukesh Ambani
One of the most powerful people in India, Mukesh Ambani, has been an influential figure owning a multi-hyphenated company, Reliance Private Limited. The revenue of the company is $104 billion. Albany has extended his company into retail, energy, telecommunications, and other avenues. His net worth is $84.2 billion.
10) Steve Ballmer
The ex-CEO of Microsoft, Steve Ballmer, despite losing money due to Microsoft’s plummeting stocks, stands strong in terms of wealth. After leaving Microsoft, Ballmer bought the basketball team, Los Angeles Clippers for $2.6 billion, which is yielding a good profit for him. Steve’s net worth is $91.6 billion.
9) Larry Page
One of the pioneers who revolutionized search engine technologies, Larry Page, is currently a board member of Alphabet. Like his business partner, he is also focusing on helping Google enhance its artificial intelligence technology. Currently, Page’s net worth is $93.1 billion.
8) Carlos Slim Helú And Family
América Móvil owner and one of the wealthiest families in Mexico, Carlos Slim Helú, and his family have a net worth of $93.4 billion. The company is the biggest telecommunication company in Latin America. When international companies started finding their feet on Mexican land, the family, in the 1990s, decided to buy Telmex, the only phone company in Mexico. The family owns a 79% stake in Grupo Carso which comprises half of their net worth.
7) Michael Bloomberg
The co-founder of Bloomberg LP, Michael Bloomberg, has been a respected name in the media sector. He co-founded the media organization in 1981 with Duncan MacMillan, Charles Zegar, and Thomas Secunda. Bank of America also invested in the company. His net worth is $94.5 billion.
6) Bill Gates
It has been a tumultuous time for tech billionaires, and Bill Gates is no exception. Gates had diversified his holdings by revamping the software company, Microsoft. The billionaire has transferred $20 billion worth of his wealth to the Bill and Melinda Gates Foundation since he announced his divorce from Melinda. As of now, Bill Gates’ net worth is $109.9 billion.
5) Warren Buffett
One of the most successful investors of all time, Warren Buffett, started investing when he was as young as 13 years old. He is the CEO of Berkshire Hathaway Inc. The company owns other companies like General Re, NetJets, Duracell, and others. His net worth is $109.7 billion.
4) Larry Ellison
Oracle has emerged as an important IT company providing all-around solutions in the field of information technology. It was founded in 1977 by Larry Ellison. In 2014, Larry stepped down as the CEO of the company handing the reins to Safra Catz. Currently, he is the Chief Technology Officer at the company owning 35% of it. Ellison’s current net worth is $120.5 billion. He has bought a Hawaiian island, Lanai where he is currently residing.
3) Jeff Bezos
The retail mogul, Jeff Bezos, lost as much as $70 billion of his wealth. The founder of Amazon, Bezos expanded its services beyond retail, and it has invested in entertainment, start-ups, and data storage solution ventures. He owns less than 10% of the company. After losing $70 billion, his net worth stands at $125.1 billion.
2) Elon Musk
The most notorious yet successful billionaire, Elon Musk, lost much of his wealth closing the historic $44 billion Twitter deal. Currently, he is managing as many as six business ventures including Tesla, SpaceX, and tunneling start-up, The Boring Company. Musk’s finances have been fluctuating, but he has maintained $187.9 billion of personal wealth.
1) Bernard Arnault And Family
A luxury fashion conglomerate, LVMH’s owner, Bernard Arnault and his family, are the richest people in the world. The owner at LVMH Moët Hennessy, Bernard Arnault was an engineer by profession. After serving at his father’s company for almost a decade, he acquired Christian Dior’s parent company, Antoine Bernheim. He then became the biggest shareholder at LVMH and became the head of the conglomerate in 1989. Currently, he and his family own $223.1 billion.
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