KEY TAKEAWAYS
- Bernard Arnault, chairman of LVMH, is the richest person and the richest man in the world with a net worth of $199 billion.
- After Arnault is the chief executive of Tesla and SpaceX, Elon Musk.
- Other billionaires with some of the largest net worths include Amazon founder Jeff Bezos, Microsoft's Bill Gates, and L'Oréal's Francoise Bettencourt Meyers; the only woman on the list.
- Seven of the top 10 billionaires made their fortunes in technology, with Arnault, Berkshire Hathaway's Warren Buffett, and L'Oreal's Francoise Bettencourt Meyers being the exceptions.
1. Bernard Arnault
- Age: 74
- Residence: Paris
- CEO and Chair: LVMH (LVMUY)
- Net Worth: $199 billion
- Christian Dior Ownership Stake: 97.5% ($157 billion total)
- Other Assets: Moelis & Company equity ($31.2 billion public asset) and $11.2 billion in cash.
French national Bernard Arnault is the chair and CEO of LVMH, the world’s largest luxury goods company. LVMH brands include Louis Vuitton, Hennessey, Marc Jacobs, and Sephora.
Most of Arnault's wealth comes from his massive stake in Christian Dior SE, the holding company that controls 41.4% of LVMH. His shares in Christian Dior SE, plus an additional 6.2% in LVMH, are held through his family-owned holding company, Groupe Familial Arnault.
An engineer by training, Arnault first showed his business acumen while working for his father’s construction firm, Ferret-Savinel, taking charge of the company in 1971. He converted Ferret-Savinel to a real estate company named Férinel Inc. in 1979.
Arnault remained Férinel's chair for another six years, until he acquired and reorganized luxury goods maker Financière Agache in 1984, eventually selling all its holdings other than Christian Dior and Le Bon Marché. He was invited to invest in LVMH in 1987 and became the majority shareholder, chair of the board, and CEO of the company two years later.
2. Elon Musk
- Age: 51
- Residence: Texas
- Co-founder and CEO: Tesla
- Net Worth: $172 billion3
- Tesla Ownership Stake: 13% ($63.9 billion)
- Twitter Ownership Stake: 79% ($9.65 billion)
- Other Assets: Space Exploration Technologies ($48.9 billion private asset), The Boring Company ($3.33 billion private asset)
Elon Musk is a well-known entrepreneur and business magnate who is widely regarded as one of the most innovative and influential individuals in the world of technology. He is the founder and CEO of several high-profile companies, including Tesla, SpaceX, and The Boring Company.
Musk was born in Pretoria, South Africa, in 1971. From a young age, he showed a keen interest in science and technology, and he eventually moved to the United States to pursue his entrepreneurial dreams.
In the late 1990s, Musk co-founded Zip2, a company that provided online business directories and city guides for newspapers. The company was eventually sold for nearly $300 million, and Musk used the proceeds to launch PayPal, an online payment system that revolutionized the way we transfer money online.
After the sale of PayPal, Musk turned his attention to space exploration and transportation. In 2002, he founded SpaceX with the goal of reducing the cost of space travel and eventually colonizing Mars. Today, SpaceX is one of the most successful private space exploration companies in the world, with numerous successful launches and contracts with NASA and other organizations.
In addition to SpaceX, Musk is also the CEO of Tesla, a company that is known for its innovative electric cars and renewable energy solutions. Tesla has been at the forefront of the movement to transition to cleaner and more sustainable forms of transportation.
Musk's other ventures include The Boring Company, which is developing new transportation infrastructure such as tunnels for high-speed travel, and Neuralink, a company that is working on developing advanced brain-computer interfaces.
Throughout his career, Musk has been known for his bold ideas and willingness to take risks. He has been recognized for his contributions to technology and innovation with numerous awards and accolades, including being named one of Time Magazine's 100 most influential people in the world.
Despite his successes, Musk has also faced criticism for his management style and controversial statements on social media. However, his impact on the worlds of technology, transportation, and space exploration cannot be denied, and he continues to be a leading figure in these fields.
3. Jeff Bezos
- Age: 59
- Residence: Washington
- Founder and Executive Chair: Amazon (AMZN)
- Net Worth: $125 billion
- Amazon Ownership Stake: 10% ($100 billion)
- Other Assets: Blue Origin ($11.2 billion private asset), The Washington Post ($250 million private asset), and $13.3 billion in cash.
Bezos was born in Albuquerque, New Mexico, in 1964. He graduated from Princeton University with degrees in electrical engineering and computer science, and went on to work for several tech companies before founding Amazon.com in 1994.
At the time, the company focused solely on selling books online, but it quickly expanded into other product categories and became one of the most successful e-commerce companies in the world. Today, Amazon.com offers a wide range of products and services, including cloud computing, digital streaming, and artificial intelligence.
Under Bezos' leadership, Amazon has become one of the most valuable companies in the world, with a market capitalization of over $1.5 trillion as of 2021. Bezos himself has also become one of the wealthiest individuals in the world, with a net worth of over $100 billion.
In addition to his work with Amazon, Bezos is also the owner of The Washington Post, a major American newspaper, and Blue Origin, a space exploration company that is developing new technologies for space travel.
Bezos is known for his innovative ideas and his willingness to take risks. He has been recognized for his contributions to technology and business with numerous awards and accolades, including being named Time Magazine's Person of the Year in 1999 and being inducted into the Internet Hall of Fame in 2017.
Despite his successes, Bezos has also faced criticism for his company's impact on the retail industry and for his personal wealth and influence. However, his impact on the world of technology and e-commerce cannot be denied, and he continues to be a major force in these fields.
4. Bill Gates
- Age: 67
- Residence: Washington
- Co-founder: Microsoft (MSFT)
- Net Worth: $120 billion
- Microsoft Ownership Stake: 1.4% ($29.3 billion)
- Other Assets: $59.6 billion in cash and billions over multiple other companies
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Bill Gates is an American entrepreneur, software developer, and philanthropist. He is best known for co-founding Microsoft Corporation, one of the world's largest and most successful software companies.
Gates was born in Seattle, Washington, in 1955. He showed an early interest in technology and programming, and he went on to study computer science at Harvard University. In 1975, he dropped out of Harvard to start Microsoft with his childhood friend Paul Allen.
Under Gates' leadership, Microsoft became one of the most successful software companies in the world. The company's flagship product, the Windows operating system, became the standard for personal computers, and its suite of productivity software, including Word, Excel, and PowerPoint, became essential tools for businesses and individuals alike.
Gates' success with Microsoft made him one of the wealthiest individuals in the world, with a net worth of over $100 billion. In recent years, he has focused his attention on philanthropy through the Bill and Melinda Gates Foundation, which works to improve global health and education.
The foundation has made significant contributions to the fight against diseases such as malaria and polio, and it has also supported initiatives to improve access to education and technology in developing countries.
Gates is widely recognized for his contributions to technology and his philanthropic efforts. He has been honored with numerous awards and accolades, including being named Time Magazine's Man of the Year in 1999 and receiving the Presidential Medal of Freedom in 2016.
Despite his success, Gates has also faced criticism for his company's business practices and for his personal wealth and influence. However, his impact on the world of technology and his dedication to improving the lives of others through philanthropy cannot be denied, and he continues to be a major figure in both fields.
5. Warren Buffett
- Age: 92
- Residence: Nebraska
- CEO: Berkshire Hathaway (BRK.A)
- Net Worth: $108 billion
- Berkshire Hathaway Ownership Stake: 14% ($107 billion)
- Other Assets: $1.18 billion in cash.
Now 92 years old, Buffett still serves as CEO, but in 2021 he hinted that his successor might be Gregory Abel, head of Berkshire’s non-insurance operations.
Widely known as the Oracle of Omaha, Buffett is a buy-and-hold investor who built his fortune by acquiring undervalued companies. More recently, Berkshire Hathaway has invested in large, well-known companies. Its portfolio of wholly owned subsidiaries includes interests in insurance, energy distribution, and railroads as well as consumer products.
Buffett is a notable Bitcoin skeptic. Buffett has dedicated much of his wealth to philanthropy. Between 2006 and 2020, he gave away $41 billion—mostly to the Bill & Melinda Gates Foundation and his children’s charities. Buffett launched the Giving Pledge alongside Bill Gates in 2010.
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