The richest people’s net worth can fluctuate due to market values because so much of their money is invested in publicly traded companies. For example, Elon Musk, the creator and CEO of Tesla Inc. (TSLA) and the world’s richest person as of Feb. 28, 2022, saw his net worth increase in 2021 as a result of a rise in the share price of Tesla (of which he owns 17 percent)—with Tesla shares climbing more than 32 percent in 2021. 516
In early February 2022, however, Meta Platforms Inc. (FB) founder and CEO Mark Zuckerberg dropped out of the top 10, as Meta’s share price plummeted 26% following a dismal financial report. In 2022, Zuckerberg’s net worth will have decreased by $45 billion (as of Feb. 28, 2022).
According to the Bloomberg Billionaires Index, the 10 wealthiest people on the earth as of the same day are listed below.
- Elon Musk ($223 billion)
Other Assets — Space Exploration Technologies ($40.3 billion private asset), $5.53 billion in cash.
Musk became a key investor in Tesla Motors (now Tesla) in 2004, which led to his present position as the company’s CEO. Tesla makes energy storage devices, automobile accessories, and, thanks to the acquisition of SolarCity in 2016, solar power systems, in addition to electric cars.
Musk is also the founder and CEO of Space Exploration Technologies (SpaceX), a space launch rocket company. Tesla shares rose 740 percent in 2020, propelling Musk to the top of the wealth rankings, surpassing Muck. Tesla will be the largest company added to the S&P 500 in December 2020. Musk became the world’s richest person in January 2021.
- Jeff Bezos ($178 billion)
Other Assets — Blue Origin ($9.15 billion private company stake), The Washington Post ($250 million private asset), and $15.5 billion in cash.
Bezos had up to 16 percent of Amazon in 2019, before handing over 4 percent to his ex-wife MacKenzie Scott as part of their divorce settlement. Amazon’s stock price surged by 76 percent in 2020 due to increasing demand for online purchasing as a result of the COVID-19 outbreak. On July 5, 2021, Bezos stepped down as CEO of Amazon and became the company’s executive chair.
Bezos took Amazon public in 1997 and went on to become the first guy with a net worth of more than $100 billion since Bill Gates in 1999.
- Bernard Arnault ($155 billion)
Other Assets — Moelis & Company equity ($23.2 billion public asset), Hermès equity (undisclosed stake), and $10.7 billion in cash.
Arnault’s riches is mostly derived from his 41.3 percent stake in Christian Dior SE, the holding company that owns LVMH. Groupe Familial Arnault, his family’s holding company, owns 6.2 percent of Christian Dior SE and another 6.2 percent of LVMH.
Arnault, a professional engineer, first showed his economic prowess while working for his father’s construction company, Ferret-Savinel, which he eventually took over in 1971. He turned Ferret-Savinel into Férinel Inc., a real estate firm, in 1979.
- Bill Gates ($127 billion)
Other Assets: Cascade Investment LLC ($55.9 billion public assets), $55.3 billion in cash.
Microsoft, the world’s largest software company, also makes computers, publishes books through Microsoft Press, provides email services via its Exchange server, and sells video gaming consoles and peripherals. In 2008, Gates, who was formerly Microsoft’s leading software architect, was elected to the board of directors. He was elected to Berkshire Hathaway’s board of directors in 2004. He resigned from both boards on March 13, 2020.
- Larry Page ($120 billion)
Larry Page, like many of the other tech millionaires on our list, started his career in a college dorm room. While at Stanford University in 1995, Page and his friend Sergey Brin came up with the idea of better internet data extraction. “Backrub,” a new search engine technology dubbed after its ability to analyse “backing links,” was devised by the duo. After that, Page and Brin founded Google in 1998, with Page acting as CEO until 2001, and then again from 2011 to 2019.
Google is the most used internet search engine, with over 92 percent of all global search requests. The business bought YouTube, the most popular platform for user-submitted videos, in 2006.