Billionaires wield an extraordinary influence that reverberates across the global economic landscape, politics, and philanthropy. According to Forbes, the count of billionaires worldwide has surged to 2,640 as of 2023. Among this elite cohort stands Elon Musk, renowned as the CEO of Tesla and SpaceX, while also commanding ownership of Twitter.
These select individuals constitute a rarified stratum, exerting even greater authority. Many emerge as architects of technology giants, their wealth deeply entrenched in the very companies they founded.
The opulence they amass serves as a fortress, allowing them to strategically leverage borrowing against their fortunes to sidestep stock liquidation. This defers capital gains taxes, a boon for heirs, and offers them a tax-sheltered haven. Remarkably, several multi-billionaires harness a mosaic of tax deductions to counterbalance reported income, leading to instances where members of this echelon have incurred no recent income tax obligations.
Given the substantial stake they hold in publicly traded equities, the fortunes of these wealthiest individuals sway in sync with the market evaluations of their corporate holdings. Presented below are the top 10 individuals who claim the loftiest net worth on the planet, as ascertained by the Bloomberg Billionaires Index. All figures provided are current as of August 11, 2023, unless explicitly noted otherwise.
What you'll learn:
1️⃣ Elon Musk: Pioneering Entrepreneur and Innovator
| Name: | Elon Musk |
|---|---|
| Age: | 52 |
| Residence: | United States |
| Title: | Co-founder and CEO, Tesla |
| Net Worth: | $238 billion |
Key Holdings and Assets:
| Tesla Ownership Stake: | 13% ($107 billion) |
|---|---|
| Twitter Ownership Stake: | 79% ($8.8 billion) |
| Other Assets: | – SpaceX ($53.2 billion private asset) |
| – The Boring Company ($3.33 billion private asset) |
Elon Musk, a native of South Africa, began his journey to become the world’s wealthiest individual through a blend of innovation and determination. He pursued higher education in Canada and the University of Pennsylvania, where he earned bachelor’s degrees in physics and economics.
After foraying into entrepreneurship, Musk deferred his graduate physics program at Stanford University to pioneer Zip2, an early online navigation service. His initial success fueled the creation of X.com, an online payment system that would evolve into PayPal Holdings after its acquisition by eBay.
In 2004, Musk’s substantial investment in Tesla Motors (now Tesla) propelled him to the CEO role of the electric vehicle juggernaut. Tesla’s portfolio includes electric cars, energy storage solutions, vehicle accessories, and solar power systems following its acquisition of SolarCity in 2016. Musk’s multidimensional endeavors extend to Space Exploration Technologies (SpaceX), where he serves as CEO and chief engineer, focusing on space launch rockets.
The trajectory of Musk’s wealth aligned with Tesla’s growth, with Tesla’s entry into the S&P 500 marking a milestone in late 2020. Subsequently, Musk ascended to the status of the world’s richest person in early 2021, a distinction that fluctuated alongside Tesla’s valuation.
Musk’s strategic moves extend beyond Tesla, as exemplified by his ambitious campaign to privatize Twitter in April 2022, culminating in a $44 billion buyout. This endeavor involved Musk committing $21 billion of his own capital. The lead-up to the buyout saw Musk divest a portion of his Tesla shares.
In a series of twists, Musk’s plan for Twitter reversed, leading to legal disputes. Ultimately, the buyout concluded in October 2022, granting Musk a 79% stake in the company.
Elon Musk’s journey stands as a testament to his visionary leadership and relentless pursuit of innovation.
2️⃣ Bernard Arnault: Visionary Leader in Luxury Goods
| Name: | Bernard Arnault |
|---|---|
| Age: | 74 |
| Residence: | France |
| Title: | CEO and Chair, LVMH (LVMUY) |
| Net Worth: | $196 billion |
Key Holdings and Assets:
| Christian Dior Ownership Stake: | 97.5% ($152 billion total) |
|---|---|
| Other Assets: | – Moelis & Company equity ($30.9 billion public asset) |
| – $13.5 billion in cash |
Bernard Arnault, a distinguished figure in the global business landscape, hails from France and serves as the CEO and Chair of LVMH, a titan in the luxury goods sector. Under his guidance, LVMH has evolved into the world’s largest luxury goods conglomerate, boasting esteemed brands such as Louis Vuitton, Hennessey, Marc Jacobs, and Sephora.
At the heart of Arnault’s substantial wealth lies his considerable ownership in Christian Dior SE, a holding company with a commanding stake of 41.4% in LVMH. His shares in Christian Dior SE, coupled with an additional 6.2% interest in LVMH, are managed through his family-held entity, Groupe Familial Arnault.
Arnault’s journey into entrepreneurship traces back to his early days as an engineer. He demonstrated astute business acumen while overseeing his father’s construction enterprise, Ferret-Savinel, eventually taking its reins in 1971. He transformed the company into a real estate entity named Férinel Inc. in 1979.
Férinel remained under Arnault’s stewardship for an additional six years. In 1984, he orchestrated the acquisition and reorganization of Financière Agache, a luxury goods manufacturer. This strategic move led to divestment of all holdings except Christian Dior and Le Bon Marché. Arnault’s involvement in LVMH began in 1987, when he was invited to invest. Within two years, he emerged as the majority shareholder, Chair of the board, and CEO of LVMH.
Arnault’s journey, rooted in strategic investments and visionary leadership, has solidified his status as a driving force in the realm of luxury goods.
3️⃣ Jeff Bezos: Pioneer of E-Commerce and Beyond
| Name: | Jeff Bezos |
|---|---|
| Age: | 59 |
| Residence: | United States |
| Title: | Founder and Executive Chair, Amazon (AMZN) |
| Net Worth: | $157 billion |
Key Holdings and Assets:
| Amazon Ownership Stake: | 10% ($130 billion) |
|---|---|
| Other Assets: | – Blue Origin ($11.2 billion private asset) |
| – The Washington Post ($250 million private asset) | |
| – Koru ($500 million private asset) | |
| – $14.2 billion in cash |
Jeff Bezos, an iconic figure in the realm of technology and business, embarked on his journey by founding Amazon.com in 1994, igniting a revolution in e-commerce. Emerging from a garage in Seattle and departing from the hedge fund giant D.E. Shaw, Bezos presented the concept of an online bookstore to his former boss, David E. Shaw, who initially dismissed the idea.
Amazon’s origins as a book retailer have evolved into a sprawling marketplace encompassing a myriad of goods and services. Anticipated to surpass Walmart as the world’s leading retailer by 2024, Amazon’s versatility is evident through strategic expansions such as the acquisition of Whole Foods in 2017 and entry into the pharmacy sector the same year.
Bezos, who once held a substantial 16% stake in Amazon, transferred 4% to his former wife, MacKenzie Scott, following their divorce in 2019. The COVID-19 pandemic spurred a 76% surge in Amazon’s share price in 2020, driven by escalating online shopping demand. On July 5, 2021, Bezos transitioned from CEO to Executive Chair of the e-commerce giant.
Bezos catapulted Amazon into the public domain in 1997 and became the first individual, since Bill Gates in 1999, to amass a net worth exceeding $100 billion. His visionary ventures extend beyond Amazon and encompass diverse pursuits. These include aerospace trailblazer Blue Origin, acquisition of The Washington Post in 2013, and the ambitious 10,000-year clock known as the Long Now.
On July 20, 2021, Bezos, alongside his brother Mark, aviation pioneer Wally Funk, and Dutch student Oliver Daemen, achieved a significant milestone by successfully completing Blue Origin’s inaugural crewed flight, soaring to an altitude of over 66 miles before landing safely. During the same period, Bezos’ wealth peaked at an impressive $211 billion.
In 2023, Bezos made headlines once again by acquiring the superyacht, Koru, for a staggering $500 million, underscoring his penchant for pushing boundaries.
4️⃣ Bill Gates: Visionary Co-founder of Microsoft
| Name: | Bill Gates |
|---|---|
| Age: | 67 |
| Residence: | United States |
| Title: | Co-founder, Microsoft (MSFT) |
| Net Worth: | $137 billion |
Key Holdings and Assets:
| Microsoft Ownership Stake: | 1.4% ($34.6 billion) |
|---|---|
| Other Assets: | – $65.8 billion in cash |
| – Investments in multiple other companies |
Bill Gates, an indomitable force in the technology landscape, commenced his journey while studying at Harvard University in 1975. Alongside childhood friend Paul Allen, Gates embarked on developing revolutionary software for microcomputers. The triumph of this project prompted Gates to leave Harvard during his junior year, founding Microsoft alongside Allen.
Microsoft, the world’s premier software company, has expanded its reach beyond software, encompassing a range of personal computers, email services, video game systems, and cloud services.
Gates transitioned from CEO to the role of board chair at Microsoft in 2008, while also assuming a position on Berkshire Hathaway’s board in 2004. On March 13, 2020, he stepped down from both boards, marking a new chapter in his journey.
A significant portion of Gates’ net worth resides in Cascade Investment LLC, a privately-held investment vehicle. Cascade boasts diverse stock holdings, including Canadian National Railway (CNR), Deere (DE), and Republic Services (RSG), alongside private investments in real estate and energy.
5️⃣ Larry Ellison: Innovator Co-founder of Oracle
| Name: | Larry Ellison |
|---|---|
| Age: | 78 |
| Residence: | United States |
| Title: | Co-founder, Chair, and CTO, Oracle (ORCL) |
| Net Worth: | $133 billion |
Key Holdings and Assets:
| Oracle Ownership Stake: | 42%+ ($98.9 billion) |
|---|---|
| Other Assets: | – Tesla equity ($11.8 billion public asset) |
| – $21.7 billion in cash |
Larry Ellison, a transformative figure in the technology arena, embarked on his journey from humble beginnings. After departing the University of Chicago in 1966, he delved into computer programming, setting the stage for his future innovations. He joined forces with Ed Oates and Bob Miner at electronics company Ampex in 1973, eventually co-founding Software Development Laboratories (SDL) in 1977.
Oracle, the world’s second-largest software company, unveiled its groundbreaking commercial relational database program, Oracle, in 1979. Ellison’s visionary leadership propelled the company to prominence, leading to its name change to Oracle Systems Corporation in 1982. His legacy extends beyond Oracle, with contributions to Tesla and philanthropic initiatives in medical research.
Oracle’s influence extends to cloud computing, Java and Linux code, and the Oracle Exadata computing platform. The company’s trajectory includes strategic acquisitions such as Sun Microsystems and Cerner.
Larry Ellison’s journey embodies innovation, technology, and a commitment to driving positive change.
6️⃣ Larry Page: Co-founder and Visionary of Alphabet
| Name: | Larry Page |
|---|---|
| Age: | 50 |
| Residence: | United States |
| Title: | Co-founder and Board Member, Alphabet (GOOG) |
| Net Worth: | $119 billion |
Key Holdings and Assets:
| Alphabet Ownership Stake: | 6% ($102.7 billion total) |
|---|---|
| Other Assets: | – $16.5 billion in cash |
Larry Page, a trailblazing innovator, embarked on his transformative journey from a college dorm room. During his time at Stanford University in 1995, Page, along with his friend Sergey Brin, envisioned refining Internet data extraction. Their groundbreaking search engine technology, initially named Backrub for its link assessment capabilities, laid the foundation for their future endeavors.
Google emerged from the vision of Page and Brin in 1998, positioning itself as the world’s dominant Internet search engine, responsible for over 92% of global search requests. Page assumed the CEO role at Google between 2001 and 2019, shaping the company’s evolution.
Google’s influence expanded through strategic acquisitions, including YouTube in 2006, becoming a premier platform for user-submitted videos. In 2015, Google underwent reorganization, culminating in the establishment of Alphabet, a holding company encompassing Google and diverse ventures.
Page’s investments extend beyond the digital realm, including involvement in Planetary Resources and flying car companies like Kitty Hawk and Opener. The soaring value of Google shares bolstered Page’s wealth, reflecting his pioneering contributions to technology.
7️⃣ Warren Buffett: Acclaimed Value Investor
| Name: | Warren Buffett |
|---|---|
| Age: | 92 |
| Residence: | United States |
| Title: | CEO, Berkshire Hathaway (BRK.A) |
| Net Worth: | $118 billion |
Key Holdings and Assets:
| Berkshire Hathaway Ownership Stake: | 15% ($117 billion) |
|---|---|
| Other Assets: | – $1.3 billion in cash |
Warren Buffett hailed as one of the most renowned value investors, commenced his financial journey at a young age. He filed his first tax return at 14, marking the start of his financial acumen. Buffett’s trajectory evolved with the purchase of shares in Berkshire Hathaway, a textile company, in 1962. His transformation of the company’s holdings encompassed insurance and diverse investments.
Known as the Oracle of Omaha, Buffett’s hallmark strategy involves acquiring undervalued companies. Berkshire Hathaway’s portfolio spans insurance, energy distribution, railroads, and consumer products. The philanthropic dimension of Buffett’s legacy is evident through his substantial contributions, including the launch of the Giving Pledge in 2010 alongside Bill Gates.
8️⃣ Mark Zuckerberg: Innovator and CEO of Meta Platforms
| Name: | Mark Zuckerberg |
|---|---|
| Age: | 39 |
| Residence: | United States |
| Title: | CEO and Chair, Meta Platforms (META) |
| Net Worth: | $117 billion |
Key Holdings and Assets:
| Meta Platforms Ownership Stake: | 13% ($113 billion total) |
|---|---|
| Other Assets: | – $4.03 billion in cash |
Mark Zuckerberg’s journey as a technology visionary unfolded during his time at Harvard University in 2004. Alongside peers Eduardo Saverin, Dustin Moskovitz, and Chris Hughes, he co-founded Facebook (now Meta). The platform’s rapid expansion led Zuckerberg to leave Harvard, dedicating himself to shaping the burgeoning enterprise. As of Q1 2023, Meta boasted 3 billion monthly active users.
Facebook stands as the world’s largest social networking service, funded predominantly through advertising. Meta’s portfolio includes Instagram, WhatsApp, and Oculus, with initiatives aimed at leveraging technology to address societal challenges. Zuckerberg and his wife, Priscilla Chan, channel their influence through the Chan Zuckerberg Initiative, dedicated to addressing societal issues.
9️⃣ Steve Ballmer: Former Microsoft CEO and Owner of LA Clippers
| Name: | Steve Ballmer |
|---|---|
| Age: | 67 |
| Residence: | United States |
| Title: | Owner, Los Angeles Clippers |
| Net Worth: | $117 billion |
Key Holdings and Assets:
| Microsoft Ownership Stake: | 4% ($107 billion total) |
|---|---|
| Other Assets: | – Los Angeles Clippers ($3.73 billion private asset) |
| – The Forum ($400 million private asset) | |
| – Intuit Dome ($2 billion private asset) | |
| – $3.43 billion in cash |
Steve Ballmer, who embarked on his journey after joining Microsoft in 1980 as its 30th employee, played a pivotal role in the company’s evolution. He succeeded Bill Gates as Microsoft CEO in 2000, overseeing significant acquisitions including Skype.
Ballmer, a notable Microsoft shareholder, possesses a stake of approximately 4%. Beyond Microsoft, he’s engaged in sports ownership, owning the Los Angeles Clippers basketball team and other notable assets.
1️⃣0️⃣ Sergey Brin: Visionary Co-founder of Alphabet
| Name: | Sergey Brin |
|---|---|
| Age: | 49 |
| Residence: | United States |
| Title: | Co-founder and Board Member, Alphabet (GOOG) |
| Net Worth: | $113 billion |
Key Holdings and Assets:
| Alphabet Ownership Stake: | 6% ($96.5 billion total) |
|---|---|
| Other Assets: | – $16.6 billion in cash |
Sergey Brin, a trailblazing visionary, began his journey in Moscow, Russia, and subsequently moved to the United States with his family in 1979. His co-founding of Google alongside Larry Page in 1998 set the stage for transformative innovation. When Eric Schmidt assumed the role of Google’s CEO in 2001, Brin stepped into the position of Google’s president of technology. With the establishment of Alphabet as a holding company in 2015, Brin held the same post within the Alphabet framework. His tenure in this capacity concluded in 2019, coinciding with Sundar Pichai’s assumption of the CEO role.
Google’s far-reaching impact is evident through its dominant internet search engine and an array of online tools and services, collectively known as Google Workspace. This suite encompasses Gmail, Google Drive, Google Calendar, Google Meet, Google Chat, Google Docs, Google Sheets, Google Slides, and more. Google further diversifies its influence with a variety of electronic devices, including Pixel smartphones, computers, tablets, Nest smart home devices, and the Stadia gaming platform.
Brin’s commitment to philanthropy is evident in his donations to Parkinson’s disease research, with collaboration with The Michael J. Fox Foundation. His journey reflects a dedication to innovation, technology, and societal progress.
FAQ about the World’s Richest
Who are the top 10 richest people in the world?
| Rank | Name | Company |
|---|---|---|
| 1 | Elon Musk | CEO of Tesla and SpaceX |
| 2 | Bernard Arnault | CEO and Chair of LVMH |
| 3 | Jeff Bezos | Founder and Executive Chair of Amazon |
| 4 | Bill Gates | Co-founder of Microsoft |
| 5 | Larry Ellison | Co-founder, Chair, and CTO of Oracle |
| 6 | Larry Page | Co-founder and Board Member of Alphabet |
| 7 | Warren Buffett | CEO of Berkshire Hathaway |
| 8 | Mark Zuckerberg | CEO and Chair of Meta Platforms |
| 9 | Steve Ballmer | Owner of Los Angeles Clippers |
| 10 | Sergey Brin | Co-founder and Board Member of Alphabet |
Who is the world’s richest man in 2023?
Elon Musk, the CEO of Tesla and SpaceX, holds the title of the world’s richest man as of August 2, 2023.
Who is the richest woman in the world?
Francoise Bettencourt Meyers is currently the world’s richest woman, with a net worth of $91.8 billion as of August 2, 2023. Her wealth stems from her holdings in L’Oréal, the largest cosmetics company globally.
How can one make it to the top of the richest billionaires list?
Achieving a place among the richest billionaires often requires technological innovation, mastery in luxury retail, or successful investing. Many of the wealthiest individuals started with innovative ideas and transformed them into some of the world’s largest companies through creativity, determination, and connections. While some may have been born into wealth, the most substantial fortunes emerged from brilliant concepts that visionary entrepreneurs harnessed to build their legacies.
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