The 3 Richest People In the World

 

1. Jeff Bezos

• Age: 57
• Residence: Seattle
• Founder and CEO: Amazon
• Net Worth: $177 billion
• Amazon Ownership Stake: 11% ($174 billion)
• Other Assets: Blue Origin ($7.15 billion private assets), The Washington Post ($250 million private assets), and $9.75 billion in cash

In 1994, Jeff Bezos founded Amazon.com in a garage in Seattle, shortly after he resigned from the hedge fund giant D.E. Shaw. In fact, he had originally pitched the idea of an online bookstore to his former boss David E. Shaw, who wasn’t interested.

Though Amazon.com originally started out selling books, it has since morphed into a one-stop shop for everything under the sun, and is arguably the world’s largest retailer. At any rate, it is hard to dispute its self-description as the “Earth’s most customer-centric company.” Its pattern of constant diversification is evident in some of its unexpected expansions, which include acquiring Whole Foods in 2017 and launching its own branded over-the-counter drugs in February. 2018. In 2020, Amazon’s share price skyrocketed on the heightened demand for online shopping as lockdowns forced consumers to stay home.

Bezos originally took Amazon public in 1997 and went on to become the first man since Bill Gates in 1999 to achieve a net worth of more than $100 billion. Bezos’s other projects include aerospace company Blue Origin; The Washington Post, which he purchased in 2013; and the 10,000-year clock, also known as the Long Now.

2. Elon Musk

• Age: 49
• Residence: Austin, Texas
• Cofounder and CEO: Tesla
• Net Worth: $151 billion
• Tesla Ownership Stake: 20% ($114 billion)
• Other Assets: Space Exploration Technologies ($29.8 billion private assets) and The Boring Company ($101 million private assets)

Elon Musk has had his hands in several different companies over the years. Originally enrolled at Stanford University, Musk deferred his attendance to launch Zip2, one of the earliest online navigation services. A portion of the proceeds from this endeavor was then reinvested to create X.com, an online payment system that later became PayPal. While both of these systems were eventually sold to other companies, Musk has maintained his status as CEO and lead designer of his third project, Space Exploration Technologies (SpaceX), which aims to make space exploration more affordable.

In 2004, Musk became a major funder of Tesla Motors (now Tesla), which led to him being retroactively declared a cofounder and his current position as CEO of the electric vehicle company. In addition to its line of electric automobiles—which include sedans, sport utility vehicles (SUVs), and the “Cybertruck” announced in 2019—Tesla also produces energy storage devices, automobile accessories, merchandise, and, through its acquisition of SolarCity in 2016, solar power systems. In 2020, Tesla’s stock price experienced an astronomical surge, having risen 705% from the start of the year to mid-December. It joined the S&P 500 that same month, the largest company added thus far.

In 2016, Musk founded two more companies, Neuralink and The Boring Company, with him serving as the CEO of the former. Neuralink is developing brain-machine interface devices to help individuals suffering from paralysis and potentially allow users to mentally interact with their computers and mobile devices. The Boring Company, meanwhile, develops boring machines for the purpose of drilling tunnels for underground public transportation systems, which would mitigate traffic congestion in major cities. It also (briefly) sold a handheld flamethrower.

3. Bernard Arnault

• Age: 72
• Residence: Paris
• CEO and Chair: LVMH
• Net Worth: $150 billion
• Christian Dior Ownership Stake: 97.5% ($109 billion)
• Other Assets: Moelis & Company equity ($21.4 billion public assets), Hermès equity ($2.23 billion public assets), Carrefour equity ($1.26 billion public assets), and $4.50 billion in cash.

French national Bernard Arnault is the chair and CEO of LVMH, the world’s largest luxury goods company.

 This business owns some of the biggest brands on Earth, including Louis Vuitton, Hennessey, Marc Jacobs, Sephora, and many more. The majority of his wealth, however, actually comes from his massive stake in Christian Dior SE, the holding company that controls 41.2% of LVMH. His shares in Christian Dior SE, plus an additional 6.2% in LVMH, are held through his family-owned holding company, Group Arnault SE.

An engineer by training, Arnault’s business chops became apparent while working for his father’s construction firm, Ferret-Savinel, which he would take control of in 1971. He later converted Ferret-Savinel to a real estate company named Férinel Inc. in 1979.

Arnault remained Férinel’s chair for another six years, until he acquired and reorganized luxury goods maker Financière Agache in 1984, eventually selling all of its holdings other than Christian Dior and Le Bon Marché. He was invited to invest in LVMH in 1987 and became the majority shareholder, chair of the board, and CEO of the company two years later.