Which Is The Richest Person In World – Billionaires play an important role in shaping the world’s economy, politics and humanitarian work. Forbes said that the number of rich people in the world will reach 2,640 by 2023. The richest among them is Elon Musk; CEO of Tesla and SpaceX and owner of Twitter.
People in this list belong to a special club and have more power. Many of them are the founders of large technology companies, with most of their wealth still invested in the companies they founded.
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However, these wealthy individuals can borrow from this property to avoid selling the stock, deferring (or eliminating inheritance tax) on unrealized capital gains in the process. Many of the super-rich can also take advantage of tax cuts to adjust their incomes, leaving some on this list with no income tax in recent years.
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With most of their wealth in publicly traded stocks, the number of wealthy individuals fluctuates with the market value of the companies they own. Here are the 10 richest people in the world, according to the Bloomberg Billionaires Index. All figures are current as of 2 July 2023 unless otherwise stated.
Elon Musk is the richest man in the world. He was born in South Africa and attended university in Canada before transferring to the University of Pennsylvania, where he earned a bachelor’s degree in physics and economics. Two days after enrolling in a physics graduate program at Stanford University, Musk delayed his enrollment to launch Zip2, one of the oldest online navigation services. He reinvested some of the proceeds from this startup to create X.com, an online payment system that was sold to eBay (EBAY) and eventually became PayPal Holdings (PYPL).
In 2004, Musk became a major backer of Tesla Motors (now Tesla), leading to his current position as CEO of the electric car company. In addition to electric cars, Tesla also manufactures energy storage devices, automotive systems and, through the acquisition of SolarCity in 2016, solar systems. Musk is the CEO and chief engineer of SpaceX, the developer of rockets launched into space.
In December 2020, Tesla entered the S&P 500 as the largest company added, and in January 2021, Musk became the richest person in the world – a title that changes with Tesla’s value.
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In April 2022, Musk began a campaign to take Twitter’s privacy, which ended in the purchase of $ 44 billion. Musk intended to finance the business with $ 21 billion of his capital. Prior to the acquisition announcement, Musk sold 9.6 million shares of Tesla, worth about $8.5 billion.
In July 2022, Musk decided to withdraw from the purchase of Twitter. Twitter filed a lawsuit against Musk to force the purchase. Musk opposed the company, but then reversed course and announced that he was finally ready to buy Twitter. The deal officially closes in October 2022, giving him a 79% stake.
Frenchman Bernard Arnaultis is the chairman and CEO of LVMH, the world’s largest luxury goods company. LVMH brands include Louis Vuitton, Hennessey, Marc Jacobs and Sephora.
Most of Arnault’s wealth comes from his large holdings in Christian Dior SE, a company that owns 41.4% of LVMH. His stake in Christian Dior SE, plus an additional 6.2% in LVMH, is held by his family-owned company, Groupe Familial Arnault.
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An engineer by training, Arnault first showed his business acumen when he worked for his father’s construction company, Ferret-Savinel, and took over the company in 1971. He turned Ferret-Savinel into a company called Férinel Inc. in 1979.
Arnault remained chairman of Ferinel for another six years, until he acquired and reorganized the luxury goods company Financière Agache in 1984, eventually selling all of his holdings except for Christian Dior and Le Bon Marche. He was invited to invest in LVMH in 1987 and became the company’s largest shareholder, chairman of the board and CEO two years later.
In 1994, Jeff Bezos founded Amazon.com in a garage in Seattle, shortly after resigning from the hedge fund giant DE. Shaw. He first pitched the idea of an online bookstore to his former boss David E. Shaw, who was not interested.
Although Amazon started selling books, it has since become a store for everything under the sun and is expected to overtake Walmart as the world’s largest by the end of 2024. Amazon’s system of distribution continues appeared in a series of unexpected events. expansion, including the purchase of Whole Foods in 2017 and entering the pharmaceutical business this year.
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Bezos owned a 16% stake in Amazon in 2019 before handing over 4% to his ex-wife, MacKenzie Scott, as part of their divorce settlement. In 2020, Amazon’s stock price rose by 76% due to increased demand for online shopping amid the COVID-19 pandemic. On July 5, 2021, Bezos stepped down as CEO of the e-commerce giant, becoming chief executive.
Bezos took Amazon public in 1997 and became the first person since Bill Gates in 1999 to own more than $100 billion. Bezos’ other ventures include the space company Blue Origin,
On July 20, 2021, Bezos, his brother Mark, aviation pioneer Wally Funk and Dutch student Oliver Daemen successfully completed the first flight of Blue Origin, reaching a height of more than 100 kilometers before landing safely. Bezos’ fortune reached 211 billion dollars this month.
While studying at Harvard University in 1975, Bill Gates worked with childhood friend Paul Allen to develop new software for the first computers. After the success of this project, Gates left Harvard in his first year and founded Microsoft with Allen.
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The world’s largest software company, Microsoft, also manufactures a line of computers, provides email services through an exchange server, and sells video game systems and related gaming equipment. He has recently invested heavily in cloud services.
Gates rose from the company’s chairman to chairman of the board in 2008. He joined Berkshire Hathaway’s board of directors in 2004. He left both positions on March 13, 2020.
Bill Gates has most of his net worth in Cascade Investment LLC. Cascade is a private investment vehicle that has a variety of holdings, including Canadian National Railways (CNR), Deere (DE) and Republic Services (RSG), as well as investments in independence in property, industry and energy.
Larry Ellison was born in New York to a 19-year-old mother. After graduating from the University of Chicago in 1966, Ellison moved to California and worked as a computer programmer. In 1973, he joined the Ampex electronics company, where he met future partners Ed Oates and Bob Miner. Three years later, Ellison returned to Precision Instruments, serving as the company’s vice president of research and development.
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In 1977, Ellison founded the Research Development Laboratory with Oates and Miner. Two years later, the company released Oracle, the first commercial program to use Structured Query Language. The software became so popular that SDL changed its name to Oracle Systems Corporation in 1982. Ellison stepped down as CEO of Oracle in 2014 after 37 years. He joined Tesla’s board of directors in December 2018 and will step down in June 2022. .
Oracle is the second largest software company in the world, providing a variety of computer programs and code for Java and Linux and Oracle’s Exadata computing platform. Oracle has owned many large companies throughout its history, such as Sun Microsystems and Cerner.
Ellison focused his aid on medical research. In 2016, he gave $200 million to the University of Southern California to build a new cancer research center. Ellison coached Oracle Team USA, which won the America’s Cup in 2010 and 2013.
Steve Ballmer joined Microsoft in 1980 after Bill Gates convinced him to drop out of Stanford University’s MBA program. He is the 30th employee of Microsoft. Ballmer went on to replace Gates as the CEO of Microsoft in 2000. He held the position until he resigned in 2014. Ballmer oversaw Microsoft’s purchase of Skype in 2011 for $8.5 billion.
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Ballmer owns about 4 percent of Microsoft’s stock, making him the largest shareholder in the software giant. In 2014, shortly after stepping down as CEO of Microsoft, Ballmer bought the Los Angeles Clippers basketball team for $2 billion.
Ballmer lived in the same room and on the same floor as Bill Gates when they both attended Harvard University. The fraternal relationship between the two soured when Ballmer began pushing the tech company into consumer products, such as Surface tablets and Windows phones, during his tenure as CEO.
A famous lifelong investor, Warren Buffett filed his first tax return in 1944 at the age of 14, claiming income from a child journalism job. He first bought stock in a company called Berkshire Hathaway in 1962, becoming the majority shareholder in 1965. Buffett expanded his holdings in the company to insurance and other investments in 1967.
Known as the Oracle of Omaha, Buffett is a buy-and-hold businessman who built his fortune by buying countless companies. Recently, Berkshire Hathaway has invested in large and well-known companies. His portfolio generally includes interests in insurance, power distribution and railroads, and consumer products.
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Buffett has given most of his wealth to charity. Between
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