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Revealed: Top 25 Billionaires of 2023 - Their Secrets to Mind-Blowing Wealth!

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May 1, 2023 | 

1238 Views | 

Karrie Tan | 

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The global pandemic has not stopped the world's billionaires from amassing wealth.
The 25 wealthiest individuals in 2023 come from a range of backgrounds, having made their fortunes in industries such as technology, fashion, and finance. They include:

#1. Bernard Arnault & Family


Net Worth: $211 Billion | Wealth Source: LVMH | Age: 74 | Nationality: France

The French magnate of luxury goods claims the top spot on the World's Billionaires list for the first time, thanks to an outstanding year for LVMH, which includes brands such as Louis Vuitton, Christian Dior, and Tiffany & Co., among others. With record-high revenues, profits, and LVMH shares, Arnault's fortune has increased by $53 billion in the past year - the largest gain for any billionaire. With his wealth at an all-time high, Arnault is now preparing for the future: In July, he proposed a restructuring of his holding company, Agache, which holds the majority of his LVMH shares, in order to grant equal stakes to his five children.

#2. Elon Musk

Net Worth: $180 Billion | Wealth Source: Tesla, SpaceX | Age: 51 | Nationality: U.S.

Musk's Twitter activity contributed to his fall from the top position in the rankings, as Tesla's stock price dropped nearly 50% since his announcement of a $44 billion Twitter takeover last April. This was significantly more than the tech-heavy Nasdaq's 18% decline. Investors have criticized the $23 billion of Tesla shares he sold to finance the acquisition. Meanwhile, SpaceX's valuation has soared to nearly $140 billion in a tender offer that closed in early 2023—up from the $127 billion valuation by investors last May. Musk's net worth has decreased by $39 billion in the past year.

#3. Jeff Bezos


Net Worth: $114 Billion | Wealth Source: Amazon | Age: 59 | Nationality: U.S.

Since resigning as Amazon CEO in 2021, Bezos has traveled to space via his company Blue Origin, made headlines with his nearly completed $500 million superyacht, and increased his philanthropic efforts through initiatives like Bezos Academy free preschools and grants from his Bezos Earth Fund. However, his fortune has taken a hit, shrinking by $57 billion in the past year due to a 38% decline in Amazon's stock price.

#4. Larry Ellison


Net Worth: $107 Billion | Wealth Source: Oracle | Age: 78 | Nationality: U.S.

Oracle's chairman and former CEO moved up four spots during a challenging year for the tech sector, as Oracle's shares rose 10% thanks to strong earnings and an emphasis on security. Last summer, Ellison purchased one of Florida's most expensive homes for $173 million, adding to his impressive real estate portfolio, which includes the Hawaiian island of Lanai, where he resides. He left Tesla's board in August after a four-year tenure.

#5. Warren Buffett


Net Worth: $106 Billion | Wealth Source: Berkshire Hathaway | Age: 92 | Nationality: U.S.

Buffett has been on a spending spree for the past three years, investing around $90 billion of Berkshire Hathaway's cash in stocks, share buybacks, and the $11.5 billion acquisition of insurance firm Alleghany Corp., which closed in October. In late March, the Oracle of Omaha reportedly advised the Biden administration on bank runs and discussed potential investments in regional banks.

#6. Bill Gates


Net Worth: $104 Billion | Wealth Source: Microsoft | Age: 67 | Nationality: U.S.

Gates stepped down from Microsoft's board in 2020 but still dedicates 10% of his time to working with teams at the software company—including those at OpenAI, which Microsoft supports. "This is every bit as important as the PC, as the internet," Gates told Forbes in February, referring to generative artificial intelligence tools like OpenAI's ChatGPT. Meanwhile, he and his former wife, Melinda French Gates, are increasing spending through the Gates Foundation, which they co-chair and plan to dissolve within 25 years.

#7. Michael Bloomberg


Net Worth: $94.5 Billion | Wealth Source: Bloomberg LP | Age: 81 | Nationality: U.S.

Despite donating an additional $1.7 billion to charity over the past year, the Bloomberg LP co-founder's fortune continues to grow, as estimated revenue at his financial terminal and media business reached $13.3 billion in 2022, up from $12.5 billion in 2021. A longtime supporter of Israel, Bloomberg entered Israeli politics in a New York Times opinion piece in March, criticizing Prime Minister Benjamin Netanyahu's plans to weaken the country's judiciary.

#8. Carlos Slim Helú & family


Net worth: $93 Billion | Wealth Source: Telecom | Age: 83 | Citizenship: Mexico

Carlos Slim Helú's fortune has increased by nearly $12 billion as the New York-listed shares of his pan-Latin American mobile phone company, América Móvil, saw a 14% rise in the past year. This marks Slim's return to the top 10 richest people in the world for the first time since 2019. In February, he listed his historic Manhattan mansion, located across from the Metropolitan Museum of Art, for $80 million, nearly double the amount he paid for it in 2010.

#9. Mukesh Ambani


Net worth: $83.4 Billion | Wealth Source: Diversified | Age: 65 | Citizenship: India

Ambani reclaimed his title as Asia's wealthiest person while Gautam Adani (No. 24) slipped. Ambani's oil-to-telecom conglomerate, Reliance Industries, was the first Indian company to exceed $100 billion in revenue last year. Ambani delegated key roles to his children, with older son Akash chairing Jio Infocomm, daughter Isha heading the retail business, and son Anant working in new energy ventures.

#10. Steve Ballmer


Net worth: $80.7 Billion | Wealth Source: Microsoft | Age: 67 | Citizenship: U.S.

Ballmer's L.A. Clippers, the NBA's sixth-most valuable team, is thriving. He is constructing a privately funded $2 billion arena, set to be completed in 2024. The former Microsoft CEO's fortune has decreased by $10 billion in the past year, primarily due to a decline in Microsoft shares.

#11. Françoise Bettencourt Meyers & family


Net worth: $80.5 Billion | Wealth Source: L’Oréal | Age: 69 | Citizenship: France

The L'Oréal heiress remains the world's wealthiest woman for the third consecutive year, thanks to a 12% increase in the cosmetics company's stock over the last 12 months. In addition to pledging $230 million towards the reconstruction of Notre-Dame Cathedral, she has appointed a managing director for her investment firm, Téthys Invest, where she supports projects such as French private hospital operator Elsan.

#12. Larry Page


Net worth: $79.2 Billion | Wealth Source: Google | Age: 50 | Citizenship: U.S.

Three years after stepping away from day-to-day operations at Google, Page and cofounder Sergey Brin (No. 14) attended strategy meetings in late 2022 amid the generative-AI arms race spurred by ChatGPT. Page has stopped selling his stock; after selling more than $2.5 billion (pretax) between May 2021 and April 2022, he hasn't sold a single share since.

#13. Amancio Ortega


Net worth: $77.3 Billion | Wealth Source: Zara | Age: 87 | Citizenship: Spain

Ortega's fashion retail empire, Inditex, which is best known for its Zara chain in the U.S., has seen a surge in performance. Its stock rose 39% in the past 12 months, with revenue for the year ending January 31, 2023, increasing 18% to nearly $35 billion. Ortega's fortune has grown by almost $18 billion since last year. His daughter Marta Ortega was appointed Inditex's chair in April 2022.

#14. Sergey Brin

Net worth: $76 Billion | Wealth Source: Google | Age: 49 | Citizenship: U.S.

Similar to his co-founder Larry Page (No. 12), Brin halted their routine involvement at Google in 2019. However, rumors suggest he might be returning. A code submission in January seems to be his first in a long time, with reports indicating he contributed code updates to Google's AI chatbot. Between May 2021 and April 2022, Brin sold over $2.5 billion in Alphabet shares but has since only gifted stock. Additionally, he has donated a total of $1.1 billion to Parkinson's disease research.

#15. Zhong Shanshan

Net worth: $68 Billion | Wealth Source: Beverages, pharmaceuticals | Age: 68 | Citizenship: China

China's bottled water magnate retains his position as the country's richest person for the third year in a row. Gains by Nongfu Spring, led by Zhong, offset a decline in shares of his Covid test supplier Beijing Wantai Biological Pharmacy after the country eased pandemic restrictions at the end of last year.

#16. Mark Zuckerberg


Net worth: $64.4 Billion | Wealth Source: Facebook | Age: 38 | Citizenship: U.S.

Despite AI competition and tech layoffs, Zuckerberg remains CEO of Meta Platforms. The company has cut 21,000 jobs since November. Meanwhile, the charitable Chan Zuckerberg Initiative, which aims to help cure or manage all diseases, announced a new Chicago Biohub in March.

#17. Charles Koch


Net worth: $59 Billion | Wealth Source: Koch Industries | Age: 87 | Citizenship: U.S.

#17. Julia Koch & family

Net worth: $59 Billion | Wealth Source: Koch Industries | Age: 60 | Citizenship: U.S.

Wichita-based conglomerate Koch Industries, with $125 billion in 2022 sales, announced a restructuring of certain subsidiaries in March 2022. Charles Koch recently revealed that his COO will join him as co-CEO after 55 years alone in the role. Julia Koch, widow of Charles' brother David (d. 2019), was elected as a trustee of New York's Metropolitan Museum of Art in January.

#19. Jim Walton

Net worth: $58.8 Billion | Wealth Source: Walmart | Age: 74 | Citizenship: U.S.

#20. Rob Walton

Net worth: $57.6 Billion | Wealth Source: Walmart | Age: 78 | Citizenship: U.S.

#21. Alice Walton


Net worth: $56.7 Billion | Wealth Source: Walmart | Age: 73 | Citizenship: U.S.

After holding onto their Walmart shares for decades, Sam Walton's children have been among the largest sellers, unloading another $1.8 billion of stock over the past 12 months. Part of the proceeds likely funded Rob Walton's record $4.7 billion purchase of the Denver Broncos last August. However, the team unexpectedly missed the NFL playoffs.

#22. David Thomson & family


Net worth: $54.4 Billion | Wealth Source: Media | Age: 65 | Citizenship: Canada

Canada's richest person added another $5.2 billion to his fortune in 2022, as his 68% stake in Thomson Reuters increased by 17%. The Toronto-based company, which Thomson chairs, has been supplementing its core news and information business with AI investments like automated tax software company SurePrep, acquired in January for $500 million.

#23. Michael Dell

Net worth: $50.1 Billion | Wealth Source: Dell Technologies | Age: 58 | Citizenship: U.S.

Dell's chairman and CEO saw his fortune decline by $5 billion this year following a 27% drop in Dell Technologies' stock price. However, his family office has grown into a large investment and advisory firm. MSD Partners, which manages over $12 billion, merged with fellow billionaire Byron Trott's BDT & Co. in October.

#24. Gautam Adani


Net worth: $47.2 Billion | Wealth Source: Infrastructure, commodities | Age: 60 | Citizenship: India

Adani was the world's third-richest person on January 24, with a net worth of nearly $126 billion. However, a report from short-seller Hindenburg Research sent his companies' shares plummeting.

#25. Phil Knight & family


Net worth: $45.1 Billion | Wealth Source: Nike | Age: 85 | Citizenship: U.S.

Knight, who established Nike in 1964 with a mere $500 investment, continues to receive substantial dividends—$400 million (pretax) in the past year—due to his 25% ownership in the footwear and apparel giant. Challenges in the supply chain and Covid-related restrictions in China caused a 3% dip in Nike's shares. The upcoming movie AIR, featuring Ben Affleck as a young Knight, tells the story of the brand's profitable signing of a young Michael Jordan.

Conclusion:

In conclusion, this article provides an insightful glimpse into the lives and fortunes of some of the world's wealthiest individuals. While their wealth sources span a diverse range of industries, from technology and fashion to beverages and pharmaceuticals, their successes demonstrate the power of innovation, perseverance, and strategic decision-making. It is crucial to remember that their wealth not only highlights their personal achievements but also impacts the global economy and philanthropic efforts. As the world continues to evolve and technology advances, it will be fascinating to see how these entrepreneurs and business magnates adapt and continue to shape the future.

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