FX.co ★ Forbes list of ultra-rich updated in spring

1st rank - Bernard Arnault

Last year, French tycoon Bernard Arnault was ranked third on the list of the wealthiest men in the world. However, the owner of the high fashion empire managed to pump up his capital by more than $50 billion. So, he was recognized at the top of the tree. According to the latest estimates, his net worth is measured at $212 billion. The main source of his wealth is multinational holding LVMH which he has been running for many years. It is home to 75 distinguished brands such as Louis Vuitton, Christian Dior, Givenchy, Tiffany, Hublot, Hennessy, etc.

2nd rank – Elon Musk

The landmark event for Tesla and SpaceX CEO was a purchase deal with another huge company. The American billionaire took over the popular social media platform Twitter, but his venture inflicted heavy losses. Shortly after the takeover deal was nailed down, the shares of his electric car brainchild plummeted almost twice. As a result, the high-tech mogul lost nearly $40 billion last year that pushed him down from the top to second rank on the red-hot Forbes list. Currently, the net worth of the 51-year-old entrepreneur is estimated at $180 billion.

3d rank – Jeff Bezos

The tough 2022 year inflicted heavy losses on Jess Bezos, the 59-year-old ex-CEO of Amazon. Having shrunk by more than 30% last year, his wealth is now estimated at $114 billion. The culprit for such massive losses was a slump in the shares of the e-commerce giant. Even though Jeff Bezos stepped down as Amazon CEO in the summer of 2021, he still owns a hefty stake in the company’s stock. Besides, he donated considerable funds to charity in the last 12 months.

4th rank – Larry Ellison

This year, Oracle's former CEO and co-founder Larry Ellison has again entered the top 5 billionaires of the planet. Last year, the IT entrepreneur was ranked 8th on the Forbes list. The net worth of the 78-year-old tycoon ballooned by $1 billion to $107 billion in the last 12 months. A steady rally in the securities of high-tech giant Oracle enabled solid gains in Ellison’s income. Last year, the shares’ quotes jumped by over 10% thanks to high profits.

5th rank – Warren Buffett

Legendary investor Warren Buffett ranks 5th on the list of the world’s richest men in the spring. He maintained this position, even though his wealth contracted by more than 10%. According to the latest estimates, Berkshire Hathaway’s owner holds $106 billion in his personal account. Bearing in mind his generous donations to charity, he might reduce this amount soon. The billionaire is recognized as one of the most benevolent philanthropists in the US. Warren Buffett used to pledge to give away the lion’s share of his fortune.