Sunday December 05, 2021

2,755 billionaires globally own $13.1 trillion

October 22, 2021
2,755 billionaires globally own $13.1 trillion

KARACHI: The number of billionaires on Forbes’ 35th annual list of the world’s wealthiest exploded to an unprecedented 2,755 -- 660 more than a year ago. Of those, a record high 493 were new to the list -- roughly one every 17 hours, including 210 from China and Hong Kong. Another 250 who’d fallen off in the past came roaring back.

A staggering 86% are richer than a year ago. Jeff Bezos is the world’s richest for the fourth year running, worth $177 billion, while Elon Musk rocketed into the number two spot with $151 billion, as Tesla and Amazon shares surged, followed by Bernard Arnault & family. One of the world's ultimate taste-makers, Bernard Arnault oversees an empire of 70 brands including Louis Vuitton and Sephora with a networth of $150 billion. Bill Gates has dropped to number 4 with $124 billion. Mark Zuckerberg, Facebook, the social network, ranks fifth among the world's top richest with $97 billion networth, Warren Buffett, the "Oracle of Omaha," controls a networth of $96 billion, follows at number 6. Larry Ellison is chairman, chief technology officer and cofounder of software giant Oracle with a networth of $93 billion, is comfortable at 7. He is followed by Larry Page, who had stepped down as CEO of Alphabet, the parent of Google, in December 2019 but remains a board member and a controlling shareholder. He controls $91.5 billion and occupies number 8. Another American, Sergey Brin who is the former president of Alphabet, has assets of $89 billion, stands at number 9 among the club.

The first Indian to be part of the top 10 billionaire club is Mukesh Ambani who chairs and runs Reliance Industries and has assets of $84.5 billion. There are nine other Indians among the top 200. Gautam Adani & family with networth of $50.5 billion from infrastructure, commodities ranks 24 among the top billionaire club, followed by Shiv Nadar who minted $ 23.5 billion from software services, ranks at 71, Radhakishan Damani with assets worth $16.5 billion, ranks 117. Number 121 is occupied by Indian, Uday Kotak, controlling assets of $15.9 billion, followed by at number 133, Lakshmi Mittal with $14.9 billion, who runs the world's largest steel and mining company by output. At 168, the commodities king Kumar Birla owns $12.8 billion. Cyrus Poonawalla, the world's largest vaccine maker (by doses) who founded Serum Institute of India in 1966, controls assets worth $12.7 billion. He occupies slot number 169 among the top 200 billionaires.

Altogether, these billionaires are worth $13.1 trillion, up from $8 trillion in 2020. The US still has the most, with 724, followed by China (including Hong Kong and Macao) with 698. The Forbes uses stock prices and exchange rates from March 5 to calculate net worths.