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The Top 10 Richest People in the World in 2023

 

After observing record gains in wealth, ultra-high net worth individuals (UHNWIs) lost a combined $10 trillion last year.

 

A lagging stock market knocked these fortunes against high interest rates, energy shocks, and economic instability. But some of the world’s billionaires have grown in this environment, posting sky-high revenues despite of inflationary pressures.

 

Data driven from the list of Forbes Real-Time Billionaires, features a snapshot of the richest people in the world in 2023.

Luxury Magnate Takes Top Spot

The world’s richest person is France’s Bernard Arnault, the chief executive officer of LVMH.

 

With 75 brands, the luxury conglomerate owns Louis Vuitton, Chanel, and Tiffany. LVMH goes back to 1985, when Arnault cut his first major deal with the company by taking over Christian Dior, a firm that was struggling with bankruptcy.

 

Jumping forward to today, and the company is seeing record profits despite challenging market conditions. Louis Vuitton, for example, has doubled its sales in last four years.

 

The table below displays the world’s 10 richest people with data as of February 27, 2023.

 

Rank

Name

Source

Net Worth

Feb 2023        

Change

2022-2023

1

Bernard Arnault & family

LVMH

$202B

28%

2

Elon Musk

Tesla, SpaceX

$191B

-13%

3

Jeff Bezos

Amazon

$117B

-32%

4

Larry Ellison

Oracle

$113B

7%

5

Warren Buffett

Berkshire Hathaway

$106B

-10%

6

Bill Gates

Microsoft

$105B

-19%

7

Carlos Slim Helu & family

Telecom

$90B

11%

8

Mukesh Ambani

Diversified

$84B

-8%

9

Steve Ballmer

Microsoft

$81B

-11%

10

Françoise Bettencourt Meyers & family

L'Oréal

$79B

5%

 

Talking about the second richest man in the world, Elon Musk, has a net worth of $191 billion. In October, Musk took over Twitter in a $44 billion dollar deal, which has drawn criticism from investors. Many say it’s a distraction from Musk’s work with Tesla.

 

While Tesla shares have returned to normal, after roughly falling 70% in 2022, Musk’s wealth still sits about 13% lower than in March of last year.

 

Third person on the list is Jeff Bezos, followed by Larry Ellison. The latter of the two, who founded Oracle, owns 98% of the Hawaiian island of Lanai which he bought in 2012 for $300 million.

 

Fifth on the list is Warren Buffett, the CEO of Berkshire Hathaway. In his annual letter to shareholders, he discussed how Berkshire Hathaway reported record operating profits despite economic headwinds. The company outperformed the S&P 500 Index by about 22% in 2022.

 

How Fortunes Have Changed for Millionaires

Given multiple economic situations, billionaire wealth has deviated over the last year.

 

Since March 2022, only four of the top 10 richest in the world have seen their wealth 1~rise. Two of these are European magnates, while Carlos Slim Helu runs the largest telecom firm in Latin America. In fact, a decade ago Slim was the richest person on the planet.

 

Jeff Bezos has seen his wealth decline 32%, or $54 billion, the greatest across the top 10 richest. Amazon posted a $2.7 billion net loss for the full year of 2022, its worst year yet.

 

Overall, as the tech sector saw miserable returns over the year, the top 10 tech billionaires lost almost $500 billion in combined wealth.


Recent Transformations in Asia

Perhaps the most striking news for the world’s richest centers around Gautam Adani, previously the richest person in Asia.

 

The Adani Group, which owns India’s largest ports along with ports in Australia, Sri Lanka, and Israel, lost $100 billion in value in the period of a few weeks. Interestingly, only a few Indian mutual funds hold significant shares in Adani Group, indicating a lack of confidence across India’s market.

 

As a result, Mukesh Ambani has moved up to Asia’s top spot, controlling an empire worth $84 billion that spans from oil and gas and renewable energy to telecom. His conglomerate, Reliance Industries is the largest company by market cap in India.


The Top 10 Richest People in the World in 2023


Infographic by: visualcapitalist

Share This Infographic On Your Site

The Top 10 Richest People in the World in 2023 #Infographic

 

The Top 10 Richest People in the World in 2023

 

After observing record gains in wealth, ultra-high net worth individuals (UHNWIs) lost a combined $10 trillion last year.

 

A lagging stock market knocked these fortunes against high interest rates, energy shocks, and economic instability. But some of the world’s billionaires have grown in this environment, posting sky-high revenues despite of inflationary pressures.

 

Data driven from the list of Forbes Real-Time Billionaires, features a snapshot of the richest people in the world in 2023.

Luxury Magnate Takes Top Spot

The world’s richest person is France’s Bernard Arnault, the chief executive officer of LVMH.

 

With 75 brands, the luxury conglomerate owns Louis Vuitton, Chanel, and Tiffany. LVMH goes back to 1985, when Arnault cut his first major deal with the company by taking over Christian Dior, a firm that was struggling with bankruptcy.

 

Jumping forward to today, and the company is seeing record profits despite challenging market conditions. Louis Vuitton, for example, has doubled its sales in last four years.

 

The table below displays the world’s 10 richest people with data as of February 27, 2023.

 

Rank

Name

Source

Net Worth

Feb 2023        

Change

2022-2023

1

Bernard Arnault & family

LVMH

$202B

28%

2

Elon Musk

Tesla, SpaceX

$191B

-13%

3

Jeff Bezos

Amazon

$117B

-32%

4

Larry Ellison

Oracle

$113B

7%

5

Warren Buffett

Berkshire Hathaway

$106B

-10%

6

Bill Gates

Microsoft

$105B

-19%

7

Carlos Slim Helu & family

Telecom

$90B

11%

8

Mukesh Ambani

Diversified

$84B

-8%

9

Steve Ballmer

Microsoft

$81B

-11%

10

Françoise Bettencourt Meyers & family

L'Oréal

$79B

5%

 

Talking about the second richest man in the world, Elon Musk, has a net worth of $191 billion. In October, Musk took over Twitter in a $44 billion dollar deal, which has drawn criticism from investors. Many say it’s a distraction from Musk’s work with Tesla.

 

While Tesla shares have returned to normal, after roughly falling 70% in 2022, Musk’s wealth still sits about 13% lower than in March of last year.

 

Third person on the list is Jeff Bezos, followed by Larry Ellison. The latter of the two, who founded Oracle, owns 98% of the Hawaiian island of Lanai which he bought in 2012 for $300 million.

 

Fifth on the list is Warren Buffett, the CEO of Berkshire Hathaway. In his annual letter to shareholders, he discussed how Berkshire Hathaway reported record operating profits despite economic headwinds. The company outperformed the S&P 500 Index by about 22% in 2022.

 

How Fortunes Have Changed for Millionaires

Given multiple economic situations, billionaire wealth has deviated over the last year.

 

Since March 2022, only four of the top 10 richest in the world have seen their wealth 1~rise. Two of these are European magnates, while Carlos Slim Helu runs the largest telecom firm in Latin America. In fact, a decade ago Slim was the richest person on the planet.

 

Jeff Bezos has seen his wealth decline 32%, or $54 billion, the greatest across the top 10 richest. Amazon posted a $2.7 billion net loss for the full year of 2022, its worst year yet.

 

Overall, as the tech sector saw miserable returns over the year, the top 10 tech billionaires lost almost $500 billion in combined wealth.


Recent Transformations in Asia

Perhaps the most striking news for the world’s richest centers around Gautam Adani, previously the richest person in Asia.

 

The Adani Group, which owns India’s largest ports along with ports in Australia, Sri Lanka, and Israel, lost $100 billion in value in the period of a few weeks. Interestingly, only a few Indian mutual funds hold significant shares in Adani Group, indicating a lack of confidence across India’s market.

 

As a result, Mukesh Ambani has moved up to Asia’s top spot, controlling an empire worth $84 billion that spans from oil and gas and renewable energy to telecom. His conglomerate, Reliance Industries is the largest company by market cap in India.


The Top 10 Richest People in the World in 2023


Infographic by: visualcapitalist

Share This Infographic On Your Site

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