The Forbes Magazine released the list of the World’s Richest people in US Dollars (USD) of the year 2023.
According to the list, which is real-time updated, the total number of billionaires in the world dropped from 2,668 last year to 2640 individuals in 2023.
Additionally, the total worth of the world’s billionaires stood at $12.2 trillion at the end of December 2023.
Forbes further noted that this was nearly a $500 billion drop from the $12.7 trillion recorded last year.
Notably, the list provided by Forbes, noted a significant change in the rankings.
In the grand tapestry of wealth, the fortunes of the world’s richest are influenced by the ever-shifting tides of the stock market.
Notably, X and Tesla owner Elon Musk fell into second place according to the list due to the drop in Tesla shares.
According to Forbes, the combined net worth of the world’s top 10 richest people as of December 1 stood at an astounding $1.44 trillion.
World’s Richest
The Kenya Times compiled the list of the top 5 richest people in the year 2023 according to Forbes.
Warren Buffett ($106b)
Warren Buffet was ranked as the world’s fifth richest person of the year 2023 at a staggering net worth of $106 billion.
Fondly known as the “Oracle of Omaha”, Buffet is the owner of Berkshire Hathaway, a conglomerate that owns dozens of companies.
Renowned for his unparalleled investment prowess, Buffett stands as a testament to the enduring impact of strategic financial acumen.
Also Read: Brain Chip That Can Help You Control Computer Cursor with Your Mind Approved
As a philanthropic force, he co-created the Giving Pledge together with Microsoft owner Bill Gates.
Underscoring his commitment to charitable causes, Buffet is estimated to have donated a staggering $55 billion through charity.
Despite a minor dip in fortune between November 1 and December 1, Buffett’s legacy as the most generous billionaire prevails.
Larry Ellison ($107b)
In the realm of technology and innovation, Larry Ellison’s narrative unfolded with the founding of software giant Oracle in 1977.
Ellison is also the chairman and chief technology officer of the software giant, owning less than 40% of the total shares.
Besides overseeing the software giant, Ellison’s life exudes a blend of business brilliance and personal extravagance.
The University of Illinois drop out notably acquired the Hawaiian island of Lanai at a $300 billion cost, moving permanently in 2020.
An investor in Tesla and a former board member, Ellison’s fortunes experienced a surge in 2023.
His fortunes rose by $15.6 billion between November 1 and December 1, briefly propelling him to the third richest spot globally.
Jeff Bezos ($114b)
The titan behind the e-commerce giant Amazon, Jeff Bezos, transitions seamlessly from revolutionizing online retail.
Notably, the third richest parson of the year 2023 founded Amazon in the year 1994 out of his garage in Seattle.
Additionally, also owns aerospace company Blue Origin and The Washington Post.
Also Read: Rwanda: Stories That Made Headlines in 2023
Stepping down as Amazon’s CEO in 2021, Bezos still remains an influential figure as the company’s chairman.
His journey, marked by a continuous rise in wealth, reflects the symbiotic relationship between Amazon’s success and his personal fortunes.
Nevertheless, Bezos witnessed a successful year as Forbes recorded a $12.5 billion surge in just a month.
Elon Musk ($180b)
Perhaps the main change in the rankings, X owner Elon Musk dropped to second in the 2023 World’s richest.
Elon Musk has been dominating as the World’s richest person throughout the year.
However, Forbes’ recorded a significant drop in stocks of his electric car manufacturer company Tesla.
Richest People in the World
The drop further saw Musk drop into second but has since reclaimed the top spot as of December 31, according to Forbes’ Real Time Net Worth.
Musk who owns about 21% of Tesla between options and stocks, bought social media giant Twitter for $44b in April 2022.
He has since rebranded the company to X, in which was a major significant change at the company since he took over.
Notably, the American cofounded six companies including tunneling startup Boring Company and rocket producer SpaceX.
Musk’s journey from South Africa to the zenith of corporate innovation is a saga of tenacity and audacity.
According to Forbes, Tesla’s shares soared by nearly 17% in the past month.
Also Read: Why Elon Musk Wants All X Users to Pay Monthly Fee
In turn, Musk’s fortune experienced a remarkable $28 billion surge, cementing his reign at the summit.
Bernard Arnault
Forbes ranked Bernard Arnault as the World’s richest person of the year 2023 at a $211 billion net worth.
Notably, Arnault is the CEO and Chairman of LVMH Moet Hennessy Louis Vuitton (LVMH).
The business conglomerate orchestrates a symphony of luxury with luxurious fashion and cosmetics brands.
They include brands like Louis Vuitton, Christian Dior, Givenchy, Fendi and Celine.
A scion of wealth, Arnault’s ascent is also intertwined with his family’s success in the construction business.
Despite the world’s richest title slipping momentarily, his fortune soared by $13.6 billion in November.
