FX.co ★ Forbes’ updated list of wealthiest people

1st rank - Bernard Arnault

At present, French entrepreneur Bernard Arnault is acknowledged to be the richest person in the world. According to the latest estimates, the net worth of the 73-year-old tycoon measures more than $213 billion. His main source of income is his own company, LVMH Moet Hennessy – Louis Vuitton, the world's largest luxury goods company. Nowadays, the group comprises a bunch of famous brands such as Christian Dior, Marc Jacobs, Givenchy, Tiffany, Hublot, Bulgari, etc. The market value of all companies in Bernard Arnault’s empire is estimated at $442 billion.

2nd rank – Elon Musk

The CEO of Tesla, SpaceX, and Twitter held firmly the title of the richest person in the world for longer than a year. However, Elon Musk incurred heavy losses in December 2022 and lost leadership. Nowadays, the net worth of the 51-year-old high-tech mogul is estimated at $178 billion, $1 billion less than a year ago. The capital of the American billionaire shrank due to a sharp loss in market quotes of his e-vehicle company. As of today, Tesla shares slumped more than twice from their peak recorded at the end of 2021.

3d rank – Jeff Bezos

The founder of e-commerce giant Amazon held the first rank in the top 10 list from 2018 until 2021. Since Jeff Bezos stepped down as a CEO in 2021, his wealth has contracted by more than $50 billion. The US online retailer is going through troubled times nowadays. The company displayed dismal performance last year. So, Amazon shares plummeted, in turn, eroding the capital of Jeff Bezos. According to the latest estimates, the net worth of the 59-year-old entrepreneur is valued at $126 billion.

4th rank – Larry Ellison

The capital of American IT entrepreneur Larry Ellison expanded by $900 million from a year ago. This enabled him to shift two ranks up in Forbes’ rating to the top 5. As of February 2023, the wealth of the 78-year-old Oracle founder amounts to $112 billion. At present, Larry Ellison also acts as the chief technology officer (CTO) and executive chairman. Until recently, he belonged to Tesla’s executive board but abandoned it in the summer of 2022.

5th rank – Warren Buffett

Outstanding American investor Warren Buffett retained the fifth rank on the list in early 2023 and in 2022, though the wealth of the Oracle of Omaha shrank by almost $10 billion. For the time being, his personal account is deposited with more than $108 billion. The major source of the 92-year-old billionaire is Berkshire Hathaway, his own conglomerate holding company. Remarkably, Warren Buffett is still actively involved in all his businesses at such an advanced age and is not going to retire.

6th rank – Bill Gates

The personal wealth of Microsoft founder Bill Gates reduced by $24.5 billion in the last 12 months. The reason for such a considerable decrease is an enormous donation. In the summer of 2022, the entrepreneur contributed more than $20 billion to his charity, Bill & Melinda Gates Foundation. According to the latest estimates, Bill Gates’ net worth now equals roughly $104 billion. In early 2023, he ranks 6th on Forbes’ list, two ranks down from 4th place in 2022. Previously, the tycoon used to be the leader of the rankings a few times.

7th rank – Carlos Slim Helu

Mexican billionaire Carlos Slim Helu used to be placed at the top of Forbes’ rating from 2010 to 2013. However, he missed the top 10 in the last few years. This year, the media magnate again appeared among the world’s 10 wealthiest people. For the time being, the personal capital of the 83-year-old tycoon is valued at more than $91 billion. He founded mobile telecom holding America Movil which accounts for his major source of income. At present, this company is the world’s fourth mobile service provider in terms of the number of users.

8th rank – Larry Page

In the last 12 months, the shares of high-tech giant Alphabet which also includes Google tumbled by almost 40%. This dented the net worth of American billionaire Larry Page who resigned as Alphabet CEO three years ago. Nevertheless, he remains one of the controlling shareholders of the Silicon Valley behemoth. The 49-year-old tycoon lost more than $25 billion. According to the latest estimates, his wealth now amounts to nearly $86 billion. Larry Page’s rank on Forbes’ list shifted two lines down from a year ago.

9th rank – Mukesh Ambani

The entrepreneur used to be the richest man in India for 14 years straight until Gautam Adani outpaced him in February 2022. Interestingly, they again replaced their ranks in 2023. Gautam Adani’s fortune has shrunk considerably after he had been charged with fraud. Thus, he left the top 10 list of the wealthiest people on Earth. In turn, Mukesh Ambani rose to the 9th rank on Forbes’ list. The net worth of the 65-year-old industrialist currently tops $83 billion. His income is mainly generated from Reliance Industries Ltd, India's most valuable company in market capitalization and largest holding company.

10th rank – Sergey Brin

The business associate of Larry Page and Google co-founder, Sergey Brin also incurred heavy losses last year. In the last 12 months, his capital plummeted by roughly $25 billion and is now estimated at about $82 billion. The Internet entrepreneur still owes his wealth to high-tech giant Alphabet, the parent company of Google. Like his companion, Sergey Brin stepped down as an Alphabet top executive a few years ago but still acts as a controlling shareholder and a board member.