A dramatic 12 months during which many business giants (especially in technology) saw their stock values decline, while interest rates, inflation, and costs increased, have also impacted the wealth of the richest. According to Forbes magazine, which has once again compiled its traditional billionaire list this year, the richest people in the world are worth $12.2 trillion, which is $500 billion less than in March of last year. Half of them are poorer than last year, with the biggest loss felt by Elon Musk, who dropped from first to second place and now has $180 billion. Bernard Arnault, the head of the luxury group LVMH, has taken the top spot with $211 billion in his pocket, becoming the first Frenchman at the top of the world’s billionaires list.
The Promised Land America
In third place, with $114 billion, is Jeff Bezos, while Oracle’s Larry Ellison is in fourth place with $107 billion. Fifth is Warren Buffet, managing assets worth $106 billion, followed by Bill Gates with $104 billion. Bloomberg owner Michael Bloomberg is in seventh place with $94.5 billion, while in eighth and ninth are Mexican billionaire Carlos Slim Helu ($93 billion) and Indian Mukesh Ambani ($83.4 billion). In tenth place is another Microsoft billionaire, Steve Ballmer, whose wealth is estimated at $80.7 billion. As Forbes further states, the most billionaires come from America. There are a total of 735, worth a combined $4.5 trillion. China is in second place with a total of 562 billionaires worth over $2 trillion, followed by India with 169 billionaires worth $675 billion.
