The year was not favorable for many of the world’s billionaires, including the top 25. As per Forbes’ World’s Billionaires list released on Tuesday, their collective net worth is $2.1 trillion, which is $200 billion less than the previous year’s $2.3 trillion.
The majority of the top 25 individuals on the list saw a decrease in their wealth, with two-thirds experiencing a decline compared to half of the overall list. Jeff Bezos experienced the largest loss, with a $57 billion reduction in his fortune after Amazon shares fell by 38%. As a result, he dropped from the second wealthiest person in the world in 2022 to third place this year. Elon Musk was the second biggest loser, and his situation was even worse.
Who is Top World Billionaires in 2023?
1. Elon Musk
Elon’s net worth in 2023 is $180 Billion. Tesla stock has dropped almost 50% since Musk announced his $44 billion takeover of Twitter last April, which is much worse than Nasdaq’s 18% drop. The selling of $23 billion of Tesla shares to fund the acquisition has been criticized by investors. Musk’s tweets are believed to have contributed to the company’s decline.
In early 2023, SpaceX was valued at almost $140 billion in a tender offer, which is an increase from the previous $127 billion valuation in May of the previous year. However, despite the company’s success, Elon Musk’s net worth has decreased by $39 billion in less than a year.
2. Bernard Arnault
Bernard’s net worth in 2023 is $211 Billion. The owner of LVMH, Bernard Arnault, has topped the World’s Billionaires list for the first time due to a successful year for his company. LVMH, which owns luxury brands such as Louis Vuitton, Christian Dior, and Tiffany & Co., has seen record highs in revenue, profit, and shares, resulting in Arnault’s fortune increasing by $53 billion over the past year, the largest gain among all billionaires.
Arnault, who is now wealthier than ever, is preparing for the future by proposing a reorganization of his holding company, Agache. The company holds most of his LVMH stock and he plans to give equal stakes to his five children. This move is seen as a succession plan for his vast empire.
3. Larry Ellison
Larry’s net worth in 2023 is $107 Billion. Despite a challenging year for the technology industry, Oracle’s chairman and former CEO, Larry Ellison, rose up four spots in the rankings. This was due to the company’s solid earnings and a focus on security, which resulted in a 10% increase in Oracle shares.
Ellison purchased one of the most expensive homes in Florida for $173 million, adding to his collection of luxurious real estate, including the Hawaiian island of Lanai, where he resides. He resigned from Tesla’s board after serving for four years in August.
4. Jeff Bezos
Jeff’s net worth in 2023 is $114 Billion. After stepping down as Amazon CEO, Jeff Bezos has been busy with philanthropic work, including support for free preschools and grants from his Bezos Earth Fund.
He has also made headlines with his space flight via Blue Origin and the near-completion of a $500 million superyacht. However, his fortune has taken a hit, with a $57 billion loss compared to last year due to a significant decline in Amazon stock.
5. Bill Gates
Bill’s net worth in 2023 is $104 Billion. Despite stepping down from the board of Microsoft in 2020, Bill Gates still spends 10% of his time working with teams at the software firm, including those at OpenAI, which Microsoft has backed. Gates believes generative artificial intelligence tools like OpenAI’s ChatGPT are just as important as the PC and the internet.
Meanwhile, Gates and his former wife Melinda French Gates are increasing spending by the Gates Foundation, which they co-chair and plan to wind down within 25 years.
6. Warren Buffett
Warren’s net worth in 2023 is $106 Billion. Over the last three years, Warren Buffett has been actively investing Berkshire Hathaway’s cash into stocks, share buybacks, and the acquisition of Alleghany Corp for $11.5 billion.
In March, he advised the Biden administration on bank runs and potential investments in regional banks. Buffett, who has vast experience in market crises, continues to make strategic moves in the financial industry.
7. Mukesh Ambani
Mukesh’s net worth in 2023 is $83 Billion. Asia’s wealthiest individual, Mukesh Ambani, has reclaimed his title after Gautam Adani fell in the rankings. Ambani’s conglomerate, Reliance Industries, reached a revenue of over $100 billion last year, a first for an Indian company.
To settle succession rumors, he appointed his children to key positions in the company, with Akash leading Jio Infocomm, Isha heading the retail business, and Anant involved in Reliance’s new energy ventures.
8. Michael Bloomberg
Michael’s net worth in 2023 is $94.5 Billion. Despite donating $1.7 billion to charity, Bloomberg’s fortune still grew as his financial terminal and media business revenue reached $13.3 billion in 2022, up from $12.5 billion in 2021.
He recently criticized the plans of Israeli Prime Minister Benjamin Netanyahu to weaken the country’s judiciary in a New York Times opinion piece, showing his long-time support for Israel.
9. Carlos Slim Helu
Carlos’s net worth in 2023 is $93 Billion. Bloomberg’s net worth increased despite his $1.7 billion in charitable donations. His financial terminal and media business generated $13.3 billion in revenue in 2022, up from $12.5 billion the previous year.
In a recent New York Times op-ed, he expressed his opposition to Israeli Prime Minister Benjamin Netanyahu’s plans to weaken the judiciary, demonstrating his longstanding support for Israel.
10. Françoise Bettencourt Meyers
Françoise’s net worth in 2023 is $80.5 Billion. For the third year in a row, the L’Oréal heiress has maintained her position as the world’s richest woman, due to a 12% increase in the cosmetics company’s stock over the past year.
In addition to donating $230 million towards the reconstruction of Notre Dame Cathedral, she has also appointed a managing director for her investment firm, Téthys Invest, which supports projects such as the French private hospital operator Elsan.
