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But some have heavily speculated that he could have a hidden wealth of around €188 billion, far outstretching all the people on this list. But before founding the luxury group Kering, which owns other fashion brands such as Saint Laurent and Alexander McQueen, Pinault was a high school dropout from France’s northwest region of Brittany. Ferrero, born in Italy, is the CEO of his family’s company, and is its highest-ranking member.
Who is the richest man in Africa?
On Friday, June 16, Forbes Magazine declared South African billionaire, Johann Rupert, ”Africa's richest man,” displacing Nigeria's Aliko Dangote, who has held that title consecutively for 10 years. Forbes real-time Global Billionaires Ranking pegged Rupert's net worth at $12 billion and Dangote's at $10.8 billion.
Mexico’s Carlos Slim, once the world’s richest person, is ranked eighth with a net worth of $93 billion. Investment activities include publicly traded securities, private equity activities, and real estate. The firm employs https://www.bookstime.com/ 80 people and has offices in New York, Santa Monica and London. On March 4, 2004, Dell stepped down as CEO, but stayed as chairman of Dell Inc.’s board, while Kevin Rollins, then president and COO, became president and CEO.
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After investing in the company in 1962, he took it over and expanded the holding into other industries such as retail, insurance and utilities. Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more – straight to your e-mail. In 1975, he left university to begin working on the software venture that we today know as Microsoft.
Ken Griffin, worth roughly $32.7 billion thanks to hedge funds, has since replaced Peterffy. Billionaire, businessman and the chairman and chief executive of LVMH (LVMUY), Bernard Arnault holds the crown as the richest person in the world. Arnault is the founder and chairman of LVMH Moët Hennessy Louis Vuitton, the world’s largest luxury goods company. As the former CEO of Microsoft, he oversaw the world’s largest software developer until he stepped down in 2014. As Ballmer still maintains 4% ownership of Microsoft, he is its largest individual shareholder. Ballmer has also bought the Los Angeles Clippers basketball team in a deal valued at $2 billion.
Carlos Slim Helu — US$87.8 billion
He runs investing conglomerate Berkshire Hathaway, which owns dozens of companies, including insurer Geico, battery maker Duracell and restaurant chain Dairy Queen. The son of a U.S. congressman, he first bought stock at age 11 and first filed taxes at age 13. These billionaires can, however, still borrow against that wealth to avoid selling stock, deferring (or eliminating for heirs) taxes on unrealized capital gains in the process. Multi-billionaires https://www.bookstime.com/articles/5-richest-people-world can also take advantage of a panoply of tax deductions to offset reported income, leaving some on this list paying no income tax in recent years. Bernard Arnault, the holder of the world’s largest luxury retail empire, has been sitting on this throne for a solid week now, sweeping former title holder Elon Musk from the top spot. In December, Mr Gates said he expected to drop out of the world’s richest list at some time in the near future.
- As of January 2021, Tiffany & Co. was added to the panel for $15.8 billion, which was estimated to be the largest acquisition of all time in luxury fashion.
- These men have carved a niche for themselves in various industries, leaving an indelible mark on the world and inspiring future generations.
- Facebook founder Mark Zuckerberg, four years after starting the company, joined the list at 23 to become the youngest self-made billionaire.
- In fact, in the top 10, only the U.S. and Australia have a population of more than 10 million.
- Norway is the twenty-seventh country with the most billionaires, with 12 billionaires.
It was revealed in July 2020 that Ortega’s property holdings, through his investment company Pontegadea, were worth $17.2 billion. Ortega is the executive chairman of Pontegadea, and real estate assets in his portfolio include Manhattan’s Haughwout Building and Southeast Financial Center. In 2019, the company completed a $72.5 million deal for a downtown Chicago hotel, which followed purchases of a building in Washington’s central business district and two Seattle office buildings. Carlos Slim Helú is a Mexican business magnate, investor, and philanthropist.
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Ranked No. 5 is the American business magnate, investor, and philanthropist Warren Buffett with an estimated net worth of $106 billion. Mexican business magnate, investor, and philanthropist Carlos Slim Helu is at No. 8 in the Forbes Billionaires 2023 Ranking with an estimated net worth of $93 billion. Making most of his fortune through telecommunications, Carlos Slim Helu and his family control América Móvil, Latin America’s largest mobile telecom company with a presence in over 15 countries.
Reliance Industries was established by Mukesh’s late father, Dhirubhai Ambani, who began with a small textile manufacturing business in 1966. After Dhirubhai’s death in 2002, Mukesh and his younger brother Anil divided the family’s business empire. As much as he is an astronomical sum each year, Buffett is also a season donor.
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According to a plan devised decades ago by Thomson Corporation founder Roy Thomson, when Kenneth Thomson died (in June 2006), control of the family fortune passed on to David. On October 12, 2015, Dell Inc. announced its intent to acquire the enterprise software and storage company EMC Corporation. At $67 billion, it has been labeled the “highest-valued tech acquisition in history”. In the late 1990s, Llama Co. closed, and in 1998, Walton moved to a ranch in Millsap, Texas, named Walton’s Rocking W Ranch. An avid horse-lover, she was known for having an eye for determining which 2-month-olds would grow to be champion cutters.
- The rest of the top ten includes Hong Kong, Brazil, Canada, the United Kingdom, and Italy.
- An avid horse-lover, she was known for having an eye for determining which 2-month-olds would grow to be champion cutters.
- Fast-forward to today, and the company is seeing record profits despite challenging market conditions.
- Given multiple economic crosscurrents, billionaire wealth has diverged over the last year.
- According to a plan devised decades ago by Thomson Corporation founder Roy Thomson, when Kenneth Thomson died (in June 2006), control of the family fortune passed on to David.
His innovation for a sustainable future made Tesla one of the biggest car companies in the world. Arnault is known for taking struggling brands under his wing and making them profitable. As a result, Arnault’s net worth rose by $53 billion since last year and LVMH shares surged 18% due to high demand, according to Forbes. Textile manufacturer Berkshire Hathaway (BRK.B) is one of Buffett’s successful investments.
Jeff Bezos — US$122.1 billion
Unlike the predecessors, the Ferrero fortune mostly came from their chocolate company, not fashion, beauty or luxury goods. The billionaires have a net worth of around €40 billion, and they are the co-owners of the famous Parisian fragrance and fashion house Chanel, valued at around €15 billion in 2021. And despite his relatively low place on this planetary list, the Spanish-born 86-year-old has an estimated value around 24 million times higher than the average Spaniard’s income. To put Arnault’s wealth into perspective, it is around ten times higher than the total value of France’s wine and spirits exports in 2021, the country’s second-biggest export.
He bought Twitter for $44 billion in October 2022 and owns an estimated 74% of the social media company, which is now worth less than half what he paid for it. His fortune rose by $27.5 billion between May 1, 2023 and June 1, 2023, mostly due to a more than 25% rise in the share price of Tesla. Two years ago, Facebook founder Mark Zuckerberg was the fifth richest person in the world, worth $97 billion. Since then, Facebook’s (rebranded as Meta Platforms) stock took a dive Zuckerberg fell out of the top 10 richest. Even though Meta stock has rebounded—including a big jump in late April 2023 after it announced quarterly earnings, Zuckerberg is still not back in the top 10—though he’s close. As of June 1, 2023 he ranks No. 11, worth nearly $96 billion—about $11 billion more than a month ago.