Top 10 richest people in world in 2020
The world’s richest people have collectively gained 23 percent or $1.3 trillion since the year began. (File p…Read More
Here are some of the wealthiest people across the globe who beat the pandemic-induced slowdown to become richer:
Amazon boss Jeff Bezos is the richest man on the planet with a total net worth of $187 billion.
According to a November 2020 SEC filing, Bezos owns about 11 per cent of Amazon. He held 16 per cent share of the world’s largest online retailer before a 4 per cent stake was transferred to MacKenzie Bezos in 2019 following the couple’s divorce.
Bezos’ net worth climbed $72.4 billion during the year, helped by the boost given to markets by unprecedented stimulus efforts by governments and central bankers.
Amazon is one of the four companies whose valuations have crossed $1 trillion. The others include Microsoft, Apple and Google.
Tesla Inc co-founder Elon Musk surpassed Bill Gates to become the world’s second richest person. The 49-year-old entrepreneur’s net worth soared to $167 billion.
Musk has added $167 billion to his net worth this year, the most of anyone on the Bloomberg Billionaires Index. Musk’s ranking improved from 35 in the beginning of the year to 2nd in 10 months.
His advance up the wealth ranks has been driven largely by Tesla, whose market value crossed $500 billion. About three-quarters of his net worth consists of Tesla shares, which are valued more than four times as much as his stake in Space Exploration Technologies Corp, or SpaceX.
Microsoft Corp co-founder Bill Gates slipped to the third position in the current year. This is the second time in the history of the index that Gates is ranked lower than No. 2.
Bill Gates held the top spot for years before being bumped by Jeff Bezos in 2017. At present, his total net worth is $131 billion.
The French luxury tycoon Bernard Arnault’s wealth plummeted during the initial pandemic days. However, demand for some luxury goods has seen a rebound in recent months.
Consequently, Bernard holds the fourth spot in the list with a net worth of $110 billion. The wealth accrues from his business empire comprising more than 70 brands like Louis Vuitton and Sephora.
Facebook co-founder Mark Zuckerberg is the youngest centibillionaire (people whose wealth exceeds $100 billion) in Bloomberg billionaires list. With a total net worth of $105 billion, he holds the fifth position.
Two years ago, Jeff Bezos was the only centibillionaire in the world but today there are five. In addition to Bezos, they are Bill Gates, Mark Zuckerberg, Elon Musk and Bernard Arnault.
Chairman of Berkshire Hathway Warren Buffett is the only person among the top 10 billionaires on Bloomberg’s index whose wealth shrunk during the year.
Buffett’s net worth dropped by about $4.09 billion. However, he still remains the sixth richest person in the world with a total net worth of $85.2 billion.
The economic impact of the pandemic hit Berkshire’s wide range of investments and the company had to sell its entire stake in four major US airlines. It held 10 per cent stakes in American Airlines, Delta, Southwest and United.
With a total net worth of $81.4 billion, Google co-founder Larry Page secured the seventh position in Bloomberg Billionaires index.
Page is a co-founder of Alphabet, the holding company for Google, the world’s largest search-engine operator. He stepped down as CEO of Alphabet Inc in December 2019 but continues to be a board member and a controlling shareholder.
The chairman and co-founder of software giant Oracle, Larry Ellison is the eighth richest man in the world with a net worth of $79.7 billion.
He owns about a third of the Redwood City, California-based company as well as a stake in Tesla, a sailing team, the Indian Wells tennis event and real estate, including Hawaii’s Lanai island.
His database company Oracle has a revenue of over $40 billion in the year to May 31.
Former CEO of Microsoft Steve Ballmer is the ninth richest man globally with a wealth of $79.1 billion. He also owns the Los Angeles Clippers basketball team, which he bought for $2 billion in 2014.
Ballmer was hired by Bill Gates as an employee at Microsoft in the year 1980. He eventually became the company’s president in 1998 and replaced Gates as CEO in 2000.
With a net worth of $78.8 billion, Sergey Brin is the tenth richest man of 2020. He co-founded Alphabet, the holding company that owns Google, with Larry page in 1998.
Brin stepped down as president of Alphabet in December 2019 but continues to be a controller shareholder and board member.