Capitalism is suffering a deserved punishment and not just in the headlines. Only in the second year of a decade did both the number of billionaires and their total wealth shrink. So this shows that even the richest people in the world have the economicforces and the weak stock marketsnot oppose. At last count, there are approximately 2,153 billionaires in 2019, which is 55 fewer than a year ago. Of these, 994 or 46% of the record holders have less wealth or are “poorer” than last year. Overall, ultra-wealthy individuals, for example, are worth $8.7 trillion, a decrease of $400 billion compared to 2018. In total, 11% of last year's members, or 247 people, fell from the ranks. Most of these have been included since 2009 at the height of the global financial crisis.
Which richest people in the world lead the rankings
Asia Pacific was the hardest hit, with 60 fewer ten-figure fortunes. This decline was led by China, which has 49 billion fewer billionaires than a year ago. Europe, the Middle East and Africa also lost ground. America, driven by a resurgent Brazil, and the United States are the only regions that own more of the world's richest people than a year ago. There is now a record 607 in the US, which includes 14 of the world's 20 richest. Jeff Bezos is again number 1 in the world, followed by Bill Gates at number 2.
Despite the strong headwinds, relentless entrepreneurs found new ways to get rich: 195 new recruits joined the ranks. The richest newcomer is Colin Huang, the founder of Chinese discount online retailer Pinduoduo, which went public in the US in July. Other notable additions include Spotify's Daniel Ek and Martin Lorentzon; James Monsees and Adam Bowen of Juul Labs, Daniel Lubetzky of Kind Bar and cosmetics prodigy Kylie Jenner, who at 21 is the world's youngest billionaire.
The Forbes list
The Forbes World Billionaires list is primarily a snapshot of wealth based on stock prices and exchange rates as of February 8, 2019. Some people also become richer or poorer within days of publication. Japan's Tsuyoshi Matsushita's fortune ($1.3 billion on this list) fell by nearly $600 million through February 18 as shares of his fitness and beauty products company, MTG, fell.
Just over a week later, Singaporean Forrest Li jumped into the 10-figure club when his online gaming company Sea's stock rose 45% in just a few days. Forbes lists individuals, not multigenerational families, who share wealth, although they also include assets of a billionaire's spouse and children if that person is the founder of the fortune. In some cases, the English magazine lists siblings or couples together when the distribution of property between them is not clear.
However, an estimated net worth of $1 billion per person is needed here to make the cut. Forbes values a variety of assets, including private companies, real estate, art and more. They don't claim to know every billionaire's personal balance sheets, although some provide those numbers as well. Accordingly, if no information is provided or available, the assets will not be taken into account. So here is the list where richest people in the world are from 1 to 10.
Number 1 – Jeff Bezos & Family
Jeff Bezos founded the e-commerce colossus Amazon in his Seattle garage in 1994. He still remains CEO and holds a 16% stake. However, in January he and his wife MacKenzie announced they were divorcing after 25 years of marriage. Terms of the split were not disclosed. MacKenzie was also Amazon's first female accountant. Under Washington state law, she was able to reach half of Jeff's fortune, making her the richest woman in the world.
In 2018, Amazon had revenue of $230 billion and net income of $10 billion, compared to $3 billion the previous year. In February, the online giant announced it was canceling plans for a second headquarters in Long Island City, New York, after local lawmakers opposed the plan. Bezos owns The Washington Post and Blue Origin, an aerospace company that is developing a rocket for commercial use.
Number 2 – Bill Gates
Bill GatesWith his wife Melinda, he runs the Bill & Melinda Gates Foundation, the world's largest private charitable foundation. This works primarily to save lives and improve global health. The foundation also works with Rotary International to combat polio (child paralysis). Gates has sold or given away a large portion of his shares in Microsoft. So he holds just over 1% of the shares and invests in a mix of stocks and other assets. He also remains a board member of Microsoft, the software company he founded with Paul Allen in 1975. At the end of 2016, Gates announced the creation of an investment fund with $1 billion and around 20 other people. To date, Gates has donated $35.8 billion worth of Microsoft stock to the Gates Foundation.
Number 3 – Warren Buffett
Warren Buffett, known as the “Oracle of Omaha,” is one of the most successful investors of all time. Buffett runs Berkshire Hathaway, which owns more than 60 companies, including insurer Geico, battery maker Duracell and restaurant chain Dairy Queen. The son of a U.S. congressman, he first bought stocks at age 11 and filed taxes at age 13. Buffett has also promised to give away over 99% of his wealth. In 2018, he donated $3.4 billion, much of it to establish the foundation of his friends Bill and Melinda Gates. In 2010, he and Gates launched the Giving Pledge, asking billionaires to commit to donating half of their wealth to charitable causes.
Number 4 – Bernard Arnault & Family
Bernard Arnault is one of the world's style influencers and owns 70 brands, including Louis Vuitton and Sephora. His luxury goods group LVMH also achieved record sales and profits in 2018, thanks in part to increased spending by Chinese customers. The art patron is the visionary behind the $135 million Louis Vuitton Museum, designed by Frank Gehry and opening in 2014. His daughter Delphine is vice chairwoman of Louis Vuitton and a member of the executive committee of LVMH. His father also made a “small” fortune while building it. Arnault contributed $15 million from this deal to purchase Christian Dior in 1985.
Number 5 – Carlos Slim Helu & Family
Mexico's richest man, Carlos Slim Helu, and his family control America Movil, Latin America's largest cell phone company. With foreign telecommunications partners, Slim also bought a stake in Telmex, Mexico's only telephone company, in 1990. Telmex is now part of America Movil. He also owns shares in Mexican construction, consumer goods, mining and real estate companies and 17% of the New York Times. His son-in-law Fernando Romero designed the Soumaya Museum in Mexico City, home to Slim's extensive, eclectic art collection.
Number 6 – Amancio Ortega
Amancio Ortega is one of the richest men in Europe and the richest retailer in the world. A pioneer in the field of fast fashion, he founded Inditex, known for its fashion chain Zara, in 1975 with his former wife Rosalia Mera (d. 2013). For example, he owns about 60% of Madrid-listed Inditex, which also owns eight brands, including Massimo Dutti and Pull & Bear, and 7,500 stores worldwide. Typically, Ortega earns more than $400 million a year in dividends. He invested his dividends primarily in real estate in Madrid, Barcelona, London, Chicago, Miami and New York.
Number 7 – Larry Ellison
Larry Ellison co-founded the software company Oracle in 1977 to address the growing need for databases for customer relationship management. He left the Oracle CEO role in 2014 but continues to serve as chairman of the board and chief technology officer. As part of Oracle's push into cloud computing, he also acquired cloud software company Netsuite for $9.3 billion in 2016. In May 2016, Ellison pledged $200 million to the University of Southern California for a cancer treatment center. In March 2018, Ellison also founded a wellness startup called Sensei, whose first project is theHydroponic farmingon the Hawaiian island of Lanai. Additionally, Ellison joined Tesla's board in December 2018 after purchasing 3 million Tesla shares earlier that year.
Number 8 – Mark Zuckerberg
After another year of criticism over fake news and abuse on Facebook, CEO Mark Zuckerberg said his priority in 2019 will be tackling social issues. He also testified before Congress in April 2018 when it was revealed that Facebook had shared users' data with political consulting firm Cambridge Analytica. Zuckerberg started using the social network in 2004 at Harvard at age 19 as a way to match students with names and faces in class. He made Facebook public in May 2012 and still owns about 15% of the shares. In December 2015, Zuckerberg and his wife Priscilla Chan pledged to give away 99% of their Facebook shares over their lifetime.
Number 9 – Michael Bloomberg
Michael Bloomberg co-founded the financial information and media company Bloomberg LP in 1981. He also provided seed funding for the company and now owns 88% of the company, which has revenue north of $9 billion. Bloomberg started on Wall Street in 1966 with an entry-level job at the investment bank Salomon Brothers. However, he was released 15 years later. An active philanthropist, he has also donated more than $5 billion to gun control, climate change and other causes. He wants to continue spending at least $500 million to defeat Donald Trump in 2020.
Number 10 – Larry Page
Larry Page sits at the helm of Alphabet, Google's parent company. He is also the chairman of the healthcare division Calico, the smart home appliance division Nest and much more. He also co-founded Google in 1998 with his Stanford colleague – graduate student Sergey Brin. With Brin, Page developed the Google PageRank algorithm that powers the search engine. Page was Google's first CEO until 2001. After serving as President of Products, he took on the position of CEO again in 2011.
