Top richest people of 2023 controls almost $12.5 trillion of global wealth; Forbes

The world’s Richest People in 2023 — the number of billionaires in the world 2,640 individuals — represent almost $12.5 trillion in wealth. 

The global billionaire population continued to grow in 2023, increasing by 3% according to latest Forbes report. 

Billionaires play an outsized role in shaping the global economy, politics, and philanthropy. 

The billionaire individuals belong to an even more exclusive club and wield still more power. 

Many are founders of technology giants, with much of their wealth still invested in the companies they started.

Top 10 richest people in the world

Elon Musk

• Age: 52
• Residence: Austin, Texas
• Citizenship: US

Elon Musk is the richest person in the world. He is the CEO of several prominent companies, including electric car manufacturer Tesla and space exploration company SpaceX. He currently possesses a 23 percent stake in Tesla. A significant portion of his wealth, around two-thirds, is tied to the success of Tesla. Musk made headlines in October 2022 when he purchased Twitter for $44 billion.Musk led Tesla to its initial public offering in 2010. The company experienced significant growth in market capitalisation during 2020 and 2021, propelling Musk to the position of the world’s top 10 richest people in September 2021. At its peak in November 2021, Musk’s fortune reached an astounding $320 billion.

Bernard Arnault & Family

•    Age: 74
•    Residence: Paris
•    Citizenship: France

Bernard Arnault, the second richest person in the world, is the CEO and chairman at Moët Hennessy Louis Vuitton (LVMH), the world’s largest luxury goods company encompassing approximately 70 renowned fashion and cosmetics brands. Notable names within its portfolio include Louis Vuitton, Christian Dior, Moet & Chandon, and Sephora. In January 2021, LVMH completed the acquisition of jeweller Tiffany & Co. for a staggering $15.8 billion.

Arnault’s five children contribute to various sectors within the expansive LVMH empire. In January 2023, he appointed his daughter Delphine to lead Dior, the group’s second-largest brand.

Jeff Bezos

• Age: 59
• Residence: Medina, Washington
• Citizenship: US

In July 2021, Jeff Bezos decided to give up his role as CEO of the ecommerce powerhouse Amazon while still maintaining his position as chairman. During the same month, he embarked on a space voyage aboard a rocket developed by Blue Origin, a private space exploration company he established and generously funded with billions of dollars.

Larry Ellison

• Age: 79
• Residence: Lanai, Hawaii
• Citizenship: US

Larry Ellison co-founded the software firm Oracle in 1977 and held the position of its CEO until 2014. Currently, he assumes the company’s chairman and Chief Technology Officer roles. In 2012, Ellison made headlines when he acquired the Hawaiian island of Lanai for a sum of $300 million. Ellison also ventured into investments, including a substantial stake in Tesla, where he served on the board of directors from 2018 until 2022.

Warren Buffett

• Age: 93
• Residence: Omaha, Nebraska
• Citizenship: US

Warren Buffett, widely recognised as the “Oracle of Omaha,” is one of history’s most accomplished investors. He is the head of Berkshire Hathaway, an investment conglomerate with a diverse portfolio encompassing numerous companies, such as insurance provider Geico, battery manufacturer Duracell, and restaurant chain Dairy Queen.In 2010, Buffett and Bill Gates and Melinda French Gates established the Giving Pledge initiative, which urges billionaires to donate at least 50 percent of their wealth to charitable organisations. Demonstrating his unwavering philanthropic commitment, Buffett has expressed his intention to donate 99 percent of his fortune.

Bill Gates

• Age: 67
• Residence: Medina, Washington
• Citizenship: US

In 1987, Forbes first recognised Gates as a billionaire. From 1995 to 2017, he maintained the title of the world’s richest person, with brief exceptions in 2008 and from 2010 to 2013. In 2021, Gates and Melinda French Gates finalised their divorce, with Melinda receiving at least $6 billion in stocks as part of the settlement. According to Forbes’ estimates, Gates’ fortune experienced a modest increase of approximately $500 million from May 1 to June 1, 2023, allowing him to ascend one spot in the rankings to secure the fifth position.

Mark Zuckerberg

• Age: 39
• Residence: Palo Alto, California
• Citizenship: US

Mark Zuckerberg, co-founder and CEO of Meta Platforms, started its flagship social media platform Facebook in 2004 when he was only 19. He was a computer science and psychology student at Harvard University. Facebook was created to match the names of students on campus with their photos. In 2006, Facebook opened to everyone at least 13 years old with a valid email address.

In May 2012, Zuckerberg took the company public, and by December 2016, he was ranked 10th on the Forbes list of The World’s Most Powerful People. Currently, Zuckerberg owns about 13 percent of the company’s stock.

The 39-year-old techie is married to Priscilla Chan and is a father of three daughters. Together with his wife, he is spending $3 billion in an attempt to end, cure or manage all diseases by the year 2100.

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Larry Page

• Age: 50
• Residence: Palo Alto, California
• Citizenship: US

Larry Page and his fellow Stanford PhD student Sergey Brin co-founded Google in 1998. Initially, Page held the position of CEO until 2001 and later resumed the role from 2011 to 2015.Currently, he serves as a member of the board of Alphabet, the parent company of Google, and retains significant control over the company as a major shareholder.Additionally, Page played a key role as a founding investor in Planetary Resources; a company focused on space exploration.

Steve Ballmer

• Age: 67
• Residence: Hunts Point, Washington
• Citizenship: US

A Harvard University classmate of Bill Gates, Steve Ballmer, assumed the role of CEO at Microsoft from 2000 to 2014. His journey with Microsoft began in 1980 when he joined as the company’s 30th employee, having dropped out of the MBA at Stanford University.In the same year that Ballmer retired from Microsoft, he made headlines by acquiring the Los Angeles Clippers basketball team for a staggering $2 billion, setting a new benchmark for the highest price paid for an NBA team at that time.

Sergey Brin

• Age: 50
• Residence: Los Altos, California
• Citizenship: US

Alongside his Stanford PhD colleague, Larry Page, Sergey Brin played a pivotal role in establishing the Google search engine in 1998. Originally from Russia, Brin initially held the position of technology president at Google and later transitioned to overseeing special projects, including the development of Google Glass, a wearable device featuring voice-activated “smart glasses.” Currently, Brin serves as a board member of Alphabet, the parent company of Google, while retaining a significant controlling stake in the company.

Carlos Slim Helu

• Age: 83
• Residence: Mexico City
• Citizenship: Mexico

Carlos Slim Helu and his family exercise control over América Móvil, the largest mobile telecommunications company in Latin America, which operates in more than 15 countries. In 1990, Slim and foreign telecom partners acquired Telmex, the formerly government-owned telephone company that became part of América Móvil.In addition to his telecom ventures, Slim holds ownership stakes in various Mexican industries, including construction, consumer goods, mining, and real estate.

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