KEY POINTS
- Some of the richest people in the world in 2022 saw their net worths plummet due to investor woes
- Luxury giant LVMH's additional $70 billion market cap in 2H 2022 helped its CEO take the top spot from Elon Musk
- Musk's net worth of $136.9 B saw a decline of $9.6 B, partly due to his controversial Twitter acquisition
New year, new list. While some of the richest people in the world in 2022 saw their net worths plummet due to investor woes, a tough climate for tech companies and inflation curbing consumer spending, many have seen their net worths rise due to strategic investments and diversified portfolios.
As we ring in the new year, let's take a look at who are the new 25 richest people in the world:
1. Bernard Arnault
The Chairman and CEO of LVMH Moët Hennessy Louis Vuitton overtook Elon Musk as the richest man in the world in late 2022. The self-appointed ambassador of French heritage rang in the new year while holding the top spot with a net worth of $185.1 B, which is $5.9 B more than the last year. Bloomberg reported that the luxury giant's additional $70 billion market cap in the second quarter of 2022 helped it take the reins from Elon Musk.
2. Elon Musk
The second-richest person in the world is the man behind companies such as Tesla, SpaceX and Neuralink. Musk's net worth of $136.9 B saw a decline of $9.6 B due to the controversies about the Twitter acquisition, rumors surrounding Musk's personal relationships and Tesla competitors closing in.
3. Gautam Adani
The third richest person in the world in 2023 has a net worth of $126.2 B, down by $2.4 B. The main contributors to his wealth are investments in infrastructure and commodities. Currently the richest Asian in the world, Adani controls the largest port in India. He is also India's biggest airport operator. Adani also made strategic acquisitions last year, including that of Holcim Ltd and the takeover of NDTV media group. The Adani Group has also announced they will earmark $70 billion for green energy.
4. Jeff Bezos
The Chairman and Founder of Amazon has a real-time net worth of $109.1 B, up by $1.8 B. He was the richest person in the world in 2017 with $90.6 B at the time and continued to hold the top spot until 2022, when Elon Musk became the richest person in the world. Despite his diversified list of businesses, including The Washington Post, he now sits in fourth place following the difficulties faced by tech companies in 2022.
5. Warren Buffett
With a net worth of $107.7 B, the CEO of Berkshire Hathaway rounds up the top-five richest people in the world as we enter 2023. Just before 2022 closed, BYD, China's top-selling electric vehicle maker, which is backed by Warren Buffett's Berkshire Hathaway, soared in sales, according to Forbes. BYD pushed for overseas sales in 2022, venturing into Europe and Japan, among other destinations.
6. Larry Ellison
The CTO and Founder of Oracle welcomes the new year with a net worth of $103.8 B. In 2021, Oracle made its biggest acquisition, buying the electronic health records company Cerner for $28.3 billion. Ellison also sat on the board of Tesla until August 2022, and he still owns 15 million shares. In October, he was the biggest dollar gainer, according to Forbes, bouncing back from disappointing earnings in August following layoff announcements.
7. Bill Gates
With a net worth of $103.2 B, the co-chair of the Bill & Melinda Gates Foundation has diversified his portfolio from becoming predominantly Microsoft to including investments in zero-carbon energy. Gates also cofounded the Giving Pledge with ex-wife Melinda and friend Warren Buffett, and his philanthropic efforts had a hand in the decrease in his net worth at the end of 2022. According to Forbes, he donated $20 B in 2022 to the Bill & Melinda Gates Foundation.
8. Mukesh Ambani
The Founder and Chairman of Reliance Industries Mukesh Ambani has a net worth of $89.4 B as of Jan. 3, 2023. In 2022, Reliance Industries-owned Jio Platforms rolled out a grocery delivery app using WhatsApp's messaging services, a collaboration between Reliance Industries and Meta that enables shoppers to browse JioMart groceries, place and pay for orders within the messaging platform. The partnership, which started in 2020, is in line with Ambani's plans to expand the group's e-commerce platform while building its mobile infrastructure in India.
9. Carlos Slim Helu
The Honorary Chairman of América Móvil, Latin America's biggest mobile telecom firm, has a net worth of $81.9 B. Slim also owns stakes in real estate, mining, construction, consumer goods and The New York Times. América Móvil announced its plan to spin off its Lat Am tower business to a new company, a plan that was approved by investors in September 2021 and completed in August 2022. Slim's family controls the new company, Sitios Latinoamerica, which has an inventory of 29,090 towers.
10. Steve Ballmer
Rounding out the top-ten richest people in the world at the start of 2023 is the owner of the Los Angeles Clippers, with a net worth of $78.5 B. The former CEO of Microsoft is also known for his philanthropic efforts. Ballmer and his wife donated $500,000 to California's Proposition 1, which aims to create a California constitutional amendment guaranteeing the right to get an abortion and access to contraception.
11. Larry Page
Google co-founder Larry Page with a net worth of $78.1 B saw his earnings increase after Google's parent company, Alphabet, reported a booming growth in quarterly earnings early in 2021. Google's advertising business was the main contributor to this growth, said Forbes.
12. Michael Bloomberg
Entering 2023 with a net worth of $76.8 B, the CEO of Bloomberg L.P. and the former mayor of New York for 12 years figures in the top 12 richest people in the world. He has been a solid supporter of abortion rights, with Forbes reporting his donations reaching $50 million, including more than $11 million for Planned Parenthood since 2015.
13. Sergey Brin
Google cofounder Sergey Brin joins Page in the richest people in the world to welcome 2023, with a net worth of $74.9 B. According to an exclusive report, Brin has quietly donated more than $1 B in support of research for Parkinson's Disease and its cure. Brin revealed over a decade ago that he has a genetic mutation that makes him at risk for the disease.
14. Francoise Bettencourt Meyers
Bettencourt Meyers and her family have a net worth of $72.8 B, mostly coming from owning about 33% of L'Oreal stock. Aside from being the richest woman in the world, she is the president of the Bettencourt Meyers family philanthropic foundation geared towards the French progress in science and arts. L'Oreal has also issued a statement supporting Ukraine and condemning its invasion, "which is causing so much suffering to the Ukrainian people." The company has allocated 5 million euros to Humanitarian aid and is helping Ukrainian refugees find jobs within the L'Oreal ecosystem.
15. Zhong Shanshan
The Founder and Chairman of bottled water company Nongfu Spring and the richest man in China in 2022 has a net worth of $66.6 B. Nongfu Spring listed its shares in Hong Kong in September 2020. Zhong is also behind the Beijing Wantai Biological Pharmacy, a company that makes rapid diagnostic tests for Covid-19.
16. Amancio Ortega
With a net worth of $65.3 B, Ortega is behind one of the wealthiest clothing retailers in the world. He cofounded Inditex, of which he owns about 60%. Inditex is behind fashion chains such as Zara, Massimo Dutti and Pull & Bear. Also contributing to his wealth is his investment in real estate in Madrid, London, Chicago, Barcelona, Miami and New York.
17. Jim Walton
The Walton family is some of the richest people in the world in 2023. Leading the pack is the Chairman and CEO of Arvest Bank Group, Inc., Jim Walton, with a net worth of $61.4 B. Arvest Bank has over $20 billion in assets. The youngest son of Walmart founder Sam Walton, Jim was not immune to the retailer's stock losses after it cut its profit outlook due to lower consumer spending resulting from higher inflation.
18. Rob Walton
The eldest son of Sam Walton, meanwhile, has a net worth of $60.1 B. The director of Walmart and his siblings own about half of the retailer's stock. Halfway through 2022, the Walton-Penner family ownership group, led by Rob, bought the NFL's Denver Broncos for $4.65 billion. This put Rob on the list of millionaires who own sports teams. The Denver Broncos have an estimated net worth of $56.7 billion.
19. Alice Walton
Another heir to the Walmart fortune, Alice Walton is the Chairman of the Crystal Bridges Museum Of American Art. The only daughter of Sam Walton has a net worth of $59.2B. Unlike her brothers, Alice does not work for Walmart but instead focuses on curating art. She also founded a holistic health institute in Bentonville in 2021, which was renamed the Alice L. Walton School of Medicine in 2022.
20. Julia Koch
Julia Koch, along with her three children, inherited a 42% stake in Koch Industries when her husband, David Koch, passed away in August 2019. Before David's death, the couple had been known for their philanthropic endeavors, including a $10 million donation to Mount Sinai Medical Center and another $10 million to Stanford Children's Hospital. The socialite invests in real estate, including two Manhattan apartments she bought for $101 million in July of 2022 and a historic Hamptons property for $75 million in June.
21. Charles Koch
The Chairman and CEO of Koch Industries, America's second-largest private company in terms of revenue, has a net worth of $58.2 B. Koch Industries has diversified investments in chemicals, automotive components, software and pipelines. Charles owns a 42% stake in the company.
22. David Thomson
The Chairman of the Thomson Reuters Corporation has a net worth of $52.9 B, which saw slight gains from the end of 2022. Aside from sitting as the chairman of the media and publishing empire, Thomson also has a diverse art portfolio, including pieces from Pablo Picasso and John Constable. He is also a part owner of the NHL's Winnipeg Jets. His company Osmington Incorporated, meanwhile, is the prime investor in FarmersEdge, a precision agriculture company.
23. Michael Dell
With a net worth of $52.5 B, the Chairman and CEO of Dell is one of the richest people in the world today. In 2022, news reports surfaced about a $61 billion deal for US chipmaker Broadcom to buy software firm VMware, of which Dell was the largest shareholder. According to Forbes, Broadcom will also assume the $8 billion debt of VMware. The deal will be finalized in 2023 after seeking approval from regulators and shareholders of VMware.
24. Zhang Yiming
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The Founder of ByteDance, the company behind TikTok, is also one of the richest people in the world today, with a net worth of $49.5 B. ByteDance bought one of China's private hospital chains in 2022. The company also spent $3 billion to buy back shares at a $300 billion valuation – almost double its $180 billion valuation in 2020.
25. Phil Knight
With a net worth of $45.5 B, the Chairman of Nike closes the list of 25 richest people in 2023 so far. Building hype around the brand, Nike has plans to reveal a lineup of festive sneakers in time for Chinese New Year to be celebrated on Jan. 22. Their sneaker lineup includes the Nike Dunk Low "Year of the Rabbit" with rich brown and orange touches. The sneaker design will also feature the Nike swoosh with gilded bunny illustrations.
