The Richest People in the World in 2023
After witnessing record gains in wealth, ultra-high net worth individuals (UHNWIs) lost a combined $10 trillion last year.
A lagging stock market dented these fortunes against high interest rates, energy shocks, and economic uncertainty. But some of the world’s billionaires have flourished in this environment, posting sky-high revenues in spite of inflationary pressures.
With data from Forbes Real-Time Billionaires List, we feature a snapshot of the richest people in the world in 2023.
Luxury Mogul Takes Top Spot
The world’s richest person is France’s Bernard Arnault, the chief executive of LVMH.
With 75 brands, the luxury conglomerate owns Louis Vuitton, Christian Dior, and Tiffany. LVMH traces back to 1985, when Arnault cut his first major deal with the company by acquiring Christian Dior, a firm that was struggling with bankruptcy.
Fast-forward to today, and the company is seeing record profits despite challenging market conditions. Louis Vuitton, for instance, has doubled its sales in four years.
In the table below, we show the world’s 10 richest people with data as of February 27, 2023:
| Rank | Name | Source | Net Worth
Feb 2023 | Change
2022-2023 |
|---|
| 1 | Bernard Arnault & family | LVMH | $202B | 28% |
| 2 | Elon Musk | Tesla, SpaceX | $191B | -13% |
| 3 | Jeff Bezos | Amazon | $117B | -32% |
| 4 | Larry Ellison | Oracle | $113B | 7% |
| 5 | Warren Buffett | Berkshire Hathaway | $106B | -10% |
| 6 | Bill Gates | Microsoft | $105B | -19% |
| 7 | Carlos Slim Helu & family | Telecom | $90B | 11% |
| 8 | Mukesh Ambani | Diversified | $84B | -8% |
| 9 | Steve Ballmer | Microsoft | $81B | -11% |
| 10 | Françoise Bettencourt Meyers & family | L'Oréal | $79B | 5% |
Elon Musk, the second-wealthiest person in the world has a net worth of $191 billion. In October, Musk took over Twitter in a $44 billion dollar deal, which has drawn criticism from investors. Many say it’s a distraction from Musk’s work with Tesla.
While Tesla shares have rebounded—after falling roughly 70% in 2022—Musk’s wealth still sits about 13% lower than in March of last year.
Third on the list is Jeff Bezos, followed by Larry Ellison. The latter of the two, who founded Oracle, owns 98% of the Hawaiian island of Lanai which he bought in 2012 for $300 million.
Fifth on the list is Warren Buffett. In his annual letter to shareholders, he discussed how Berkshire Hathaway reported record operating profits despite economic headwinds. The company outperformed the S&P 500 Index by about 22% in 2022.
How Fortunes Have Changed
Given multiple economic crosscurrents, billionaire wealth has diverged over the last year.
Since March 2022, just four of the top 10 richest in the world have seen their wealth increase. Two of these are European magnates, while Carlos Slim Helu runs the largest telecom firm in Latin America. In fact, a decade ago Slim was the richest person on the planet.
Jeff Bezos has seen his wealth decline 32%, or $54 billion, the most across the top 10 richest. Amazon posted a $2.7 billion net loss for the full year of 2022, its worst year yet.
Overall, as the tech sector saw dismal returns over the year, the top 10 tech billionaires lost almost $500 billion in combined wealth.
Recent Shakeups in Asia
Perhaps the most striking news for the world’s richest centers around Gautam Adani, formerly the richest person in Asia.
In January, Hindenburg Research, a short-selling firm, released a report claiming that the Adani Group engaged in stock manipulation and fraud. Specifically, the alleged the firm used offshore accounts to launder money, artificially boost share prices, and hide losses.
The Adani Group, which owns India’s largest ports—along with ports in Australia, Sri Lanka, and Israel—lost $100 billion in value in the span of a few weeks.
Interestingly, very few Indian mutual funds hold significant shares in Adani Group, signaling a lack of confidence across India’s market, which was also cited in Hindenburg’s report.
As a result, Mukesh Ambani has climbed to Asia’s top spot, controlling a $84 billion empire that spans from oil and gas and renewable energy to telecom. His conglomerate, Reliance Industries is the largest company by market cap in India.
FAQs
Elon Musk is the richest person in the world as of June 9, 2023, according to Forbes. Tesla CEO Elon Musk on Thursday became the richest man on earth taking the title away from LVMH chairman Bernard Arnault.
Who is No 1 richest person in the world 2023? ›
Who is the richest man in the world? As of June 1, 2023, the richest man in the world is Bernard Arnault, the CEO and chairman of LVMH of France; he's worth $215 billion. He moved into the number one spot after Elon Musk's fortune fell in late 2022 as shares of electric carmaker Tesla fell.
How many billionaires are there in the world in 2023? ›
According to Forbes, there are 2,640 billionaires as of May 2023. This is 19 times the amount there was in 1987.
Who is the top 100 richest man in 2023? ›
Here are the 25 richest people on the 2023 World's Billionaires list
- #1. Bernard Arnault & family. Net worth: $211 Billion | Source of Wealth: LVMH | Age: 74 | Citizenship: France. ...
- #2. Elon Musk. ...
- #3. Jeff Bezos. ...
- #4. Larry Ellison. ...
- #5. Warren Buffett. ...
- #6. Bill Gates. ...
- #7. Michael Bloomberg. ...
- #8. Carlos Slim Helú & family.
Bernard Arnault
Billionaire, businessman and the chairman and chief executive of LVMH (LVMUY), Bernard Arnault holds the crown as the richest person in the world. According to Forbes, Arnault has a fortune of $217.9 billion.
Are there any Trillionaires? ›
A trillion is such a huge number, followed by twelve zeros. That is one thousand times a billion (nine zeros followed by 1). Do you know that only 6 trillionaires ever lived on the face of earth? As of today, there are no trillionaires who live on earth.
How to become a billionaire? ›
How to Become a Billionaire in Just 9 Steps
- Get started by understanding how money works.
- Learn to manage your money wisely.
- Master the art of investing.
- Grow your business into a powerhouse.
- Protect your wealth by taking advantage of legal protections.
Luxury Mogul Takes Top Spot. The world's richest person is France's Bernard Arnault, the chief executive of LVMH. With 75 brands, the luxury conglomerate owns Louis Vuitton, Christian Dior, and Tiffany.
Who is the richest female in the world? ›
There are 337 women on the 2023 World's Billionaires list, including a familiar face as the world's wealthiest. T he reign of Françoise Bettencourt Meyers continues.
How many billionaires are in USA? ›
Number of Billionaires by Country
| # | Country | Number of Billionaires (2023) |
|---|
| 1 | United States of America | 735 |
| 2 | People's Republic of China | 495 |
| 3 | India | 169 |
| 4 | Germany | 126 |
72 more rowsAmong the list of 15 nations with the most billionaires, Japan ranked at the bottom with only 40 ultra-rich people, the World of Statistics data reported. Only Russia (105), Germany (126), India (169), China (495), and the US (735) have more than 100 billionaires across the globe.
Who is the 92 year old billionaire? ›
The 92-year-old billionaire media mogul Rupert Murdoch is preparing to walk down the aisle for the fifth time. Billionaire media mogul Rupert Murdoch is preparing to walk down the aisle for the fifth time.
Who is the richest family in the world 2023? ›
World Richest Man 2023
The Richest Man in the World, as reported in March 2023, is Bernard Arnault & family, the Chief Executive Officer of LVMH, with a net worth of $207.1 billion. World's Billionaires is an annual ranking granted to the wealthiest billionaires of the world, documented on the basis of their net worth.
How rich is the 100th richest person in the world? ›
Here is a list of the wealthiest individuals in the world as of 2023: the top billionaires.
| Rank | Billionaire | Net Worth |
|---|
| 97 | Donald Bren | $17.2 billion |
| 98 | Robert Kuok | $17.2 billion |
| 99 | Lui Che-woo | $17.2 billion |
| 100 | John Menard | $17.2 billion |
96 more rowsMar 4, 2023
World Richest Man 2023 Top 10 Richest Man in the World List
- Bernard Arnault – Net worth $ 211.3 Billion, Source – LVMH.
- Elon Musk- Net Worth $180.4 billion, Source- Tesla, SpaceX.
- Jeff Bezos- Net Worth $ 114.0 billion, Source- Amazon.
- Larry Ellison- Net Worth $ 107.2 billion, Source – Oracle.
After Mansa Musa died in 1337, aged 57, the empire was inherited by his sons who could not hold the empire together. The smaller states broke off and the empire crumbled.
Is Elon the richest man in the world? ›
Elon Musk has reclaimed his position as the world's wealthiest person. That's according to a Bloomberg Billionaires tally, which estimated the Tesla (TSLA) CEO's net worth is now about $192 billion, compared to LVMH (LVMHF) CEO Bernard Arnault's $187 billion.
What makes you rich faster? ›
Start Investing Now
The longer you wait to start investing, the longer it will take to get rich. It's not enough to save money. To get rich you must put your rupees to work by investing in markets. Learning how to invest is not a simple task, but the time to get started is now.
How to become a millionaire in 5 years? ›
- 10 Steps to Become a Millionaire in 5 Years (or Less) ...
- Create a wealth vision. ...
- Develop a 90-day system for measuring progress/future pacing. ...
- Develop a daily routine to live in a flow/peak state. ...
- Design your environment for clarity, recovery, and creativity. ...
- Focus on results, not habits or processes.
How to make money fast
- Become a rideshare driver. ...
- 2. Make deliveries. ...
- Pet sit. ...
- Sell clothes and accessories online. ...
- Sell unused gift cards. ...
- Take surveys. ...
- Trade in old electronics. ...
- Host a yard sale.
A trillionaire is an individual with a net worth equal to at least one trillion in U.S. dollars or a similarly valued currency, such as the euro or the British pound. Currently, no one has yet claimed trillionaire status, although some of the world's richest individuals may only be a few years away from this milestone.
How much is trillion? ›
Trillion is a number with two distinct definitions: 1,000,000,000,000, i.e. one million million, or 1012 (ten to the twelfth power), as defined on the short scale. This is now the meaning in both American and British English.
Who is a Quadrillionaire? ›
quadrillionaire (plural quadrillionaires) Somebody whose wealth is greater than one quadrillion units of the local currency. quotations ▼ (by extension) An extremely wealthy person.
How much money do I need to be a billionaire? ›
Calculating Net Worth
In the United States, a billionaire is a person with a net wealth of a billion dollars, $1,000,000,000, one thousand times greater than a millionaire, $1,000,000. Billionaires in other countries are defined by monetary units in currencies such as euros.
How to meet a billionaire? ›
There are plenty of online dating websites that cater to people who are looking to date wealthy people, such as MillionaireMatch.com, Sugardaddie.com, DateAMillionaire.com, and many others. Some websites have income verification tools that ensure that the person you are matching with has the income they claim.
What age do you become a billionaire? ›
The average age of a first time millionaires is 37, it has been found. In data released by Betway Insider, the average age of a first time billionaire is also revealed: and is a little higher at 51. So, if you're not quite there yet, what can you do to make your first million?
Do millionaires keep cash? ›
Many millionaires keep a lot of their money in cash or highly liquid cash equivalents. And they tend to establish an emergency account even before making investments. Millionaires also bank differently than the rest of us.
Do millionaires hold cash? ›
High net worth investors typically keep millions of dollars or even tens of millions in cash in their bank accounts to cover bills and unexpected expenses. Their balances are often way above the $250,000 FDIC insured limit.
Do billionaires use cash? ›
Though not often thought of as an investment, cash is a liquid asset, meaning you can use it in a variety of ways as needs or desires arise. In a crisis, having cash on hand gives you the flexibility to respond. That's why billionaires keep a significant portion of their money in cash and cash equivalents.
Who is richer Oprah or Ellen? ›
Oprah Winfrey has a higher net worth than DeGeneres, clocking in at an estimated whopping $2.5 billion compared to DeGeneres' $380 million.
1. Françoise Bettencourt Meyers: Net Worth- 94.9 billion USD. A French businesswoman and philanthropist hold the number one position among the World Richest Women. Francoise Bettencourt Meyers is the only granddaughter of the founder of the fashion company L'Oreal.
Who is the richest family in the world? ›
The Walton Family is the richest family in the world. It owes its wealth to the Walmart company started by brothers Sam & Bud Walton in Northwest Arkansas more than six decades ago.
Which US state has no billionaires? ›
They live in 42 of the 50 states. The only states where you won't find a billionaire are Alabama, Alaska, Delaware, New Hampshire, New Mexico, North Dakota, Vermont, and West Virginia.
Who are the 3 richest families in America? ›
The top 10 richest families in 2022 by estimated wealth are: The Walton family with $224.5 billion. The Mars family with $160 billion. The Koch family with $128.8 billion.
Where do most US billionaires live? ›
Three of the four biggest clusters of billionaires in the world are classic US destinations for the uberwealthy: New York City, Los Angeles, and the Bay Area, which includes the neighboring tech hubs of San Francisco and Silicon Valley. Nearly 163 billionaires reside in those three hot spots alone.
Who is the richest person in the US 2023? ›
As of April 12, 2023, Elon Musk was the wealthiest person in the United States, with an estimated net worth of 189.1 billion U.S. dollars, followed by Jeff Bezos (No. 2, $123.0 billion), Larry Ellison (No. 3, $118.5 billion); and Warren Buffett (No.
Who is the richest man in the world 2024? ›
2024. The world's richest person, Elon Musk, has an estimated net worth of $263 billion as of 19/01/22, according to Forbes.
Which country has the most billionaires 2023? ›
The United States of America is home to 735 billionaires
The Forbes 2023 rich list reveals that 2,640 billionaires of the world hail from 77 countries or territories. The country with the highest number of billionaires is, unsurprisingly, the US.
