Billionaires play a vital role in building the economy of the World. They are the major reason to consider the development of any nation. Thus, the World is constantly stirring these billionaires to know their wealth and power. However, the net worth of these richest men can fluctuate with market valuations.
To evaluate their net worth, the American Business magazine Forbes biweekly published the list of Top Richest Men in the World. Forbes is considered the most reliable and genuine magazine. In this article, we will let you know the name of the Top 10 Richest Men in the World according to the Forbes magazine list. So, keep reading the article to know the World’s Richest Man 2023.
1. Bernard Arnault – Net worth $ 211.3 Billion, Source – LVMH
Bernard Arnault, full name Bernard Jean Etienne Arnault, is a French Business magnate who owns the World’s largest luxury goods company, LVMH. Arnault founded the company in 1985, and the LVMH empire oversees more than 70 cosmetic and fashion brands, including Sephora and Louis Vuitton.
Arnault started his business by investing $ 15 million from his father’s construction business to buy Christian Dior in 1985. In 2019, the billionaire spent $ 3.2 billion on the luxury hospitality group Belmond, which owns 46 hotels, river cruises and trains. His family is considered the wealthiest family in the World, with four out of five children working in the LVMH empire.
2. Elon Musk- Net Worth $180.4 billion, Source- Tesla, SpaceX
The American billionaire and the tech giant is the founder of six companies, including SpaceX and Tesla. Elon Musk is the CEO, Chairman and founder of SpaceX, founded in 2002. The company quadrupled its market value in the last three years, with a net worth of $ 127 billion. In addition, musk recently gained headlines after acquiring Twitter in 2022 for a whopping $ 44 billion.
3. Jeff Bezos- Net Worth $ 114.0 billion, Source- Amazon
Jeff Bezos is an American entrepreneur and the founder and executive chairman of the multi-national company Amazon, the World’s largest online sales company. Bezos founded the company in 1994 during a road trip from New York City to Seattle. The company began as an online bookstore and expanded to other products and services. Recently the billionaire donated more than $ 400 million to some non-profit organizations whose names are undisclosed.
4. Larry Ellison- Net Worth $ 107.2 billion, Source – Oracle
The business tycoon is the chairman, chief technology officer and co-founder of the software company Oracle. Ellison owns 35% of company shares and withdraws himself from the post of CEO after serving for 37 years. In addition, Ellison owns about 15 million shares in the electric carmaker company Tesla.
5. Warren Buffett- Net Worth $ 105.7 billion, Source- Berkshire Hathaway
Warren Edward Buffett, the chairman and CEO of Berkshire Hathaway, is most famous for its investing qualities. But, apart from this, Buffett is a renowned philanthropist who donated most of his wealth to improve society. So far, the U.S. congressman’s son has donated over $ 49 billion and has promised to donate 99% of his wealth.
6. Bill Gates- Net Worth $ 104.1 billion, Source- Microsoft
Bill Gates, an American business magnate, is a major person responsible for the microcomputer revolution of the 1970s and 1980s. Bill Gates’s majority of its wealth is made by the software firm Microsoft. The software giant, to date, has donated more than $ 59 billion to the Gates Foundation. Despite it, he was criticized for his business tactics in the 1990s.
7. Michael Bloomberg- Net Worth $ 94.5 billion, Source- Bloomberg LP
Michael Bloomberg, an American businessman, philanthropist, politician and author, holds the majority of shares of his founding company Bloomberg LP. He co-founded the media company in 1981. Michael Bloomberg has recently become the Defense Innovation Board chair, which provides recommendations on AI, software, and data to the United States Department of Defense.
8. Carlos Slim Helu and Family- Net Worth $ 93.0 billion, Source- Telecom
The most prosperous Mexican businessman is at number eight on the Forbes list, with the majority of his wealth brought from Telecom. Apart from owning the biggest telecom firms in Mexico, the businessman owns stakes in real estate companies, mining and consumer goods.
9. Mukesh Ambani- Net Worth $ 83.5 billion, Source- Reliance
Mukesh Ambani, the son of Dhiru Bhai Ambani, who founded Reliance Industries, is the chairman and managing director of Reliance Industries ltd. The multi-billionaire businessman is Asia’s richest man. Ambani is turning Reliance into green energy by investing $ 80 billion in renewable energy. His younger son Anant Ambani has been instated into the new business.
10. Steve Ballmer- Net Worth $ 80.7 billion, Source- Microsoft
The former CEO of Microsoft, Steve Ballmer, is a famous philanthropist. Microsoft tripled its sales and multiplied its profit twice during his tenure. Still, the tech giant loses its market dominance on 21st-century technology trends with the invention of the iPhone and Android.
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