On the billionaires list, Trump anticipates a significant rise in wealth.
According to Forbes, the number of billionaires has reached a record-breaking 3,428, with Elon Musk retaining the title of the world’s richest person.
of the magazine’s latest ranking The boss of Tesla and SpaceX, who dominates the tech sector, came out on top with a net worth of $839bn (£623bn), followed in second place. Google co-founders Larry Page with $257 billion and Sergey Brin with $237 billion.
Donald Trump’s wealth increased by 27% to $6.5 billion due to crypto transactions, and after the fraud fine was dropped in New York, the US President became the 645th richest person in the world.
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Forbes’ 40th annual World Billionaires list also saw some notable debuts, including rapper Dr. Dre ($1 billion), singer Beyoncé Knowles-Carter ($1 billion) and tennis star Roger Federer ($1.1 billion).
Beyoncé Knowles-Carter is among the newcomers to the annual list. Photo: Reuters
The 390 newcomers also include Greg Abel, Warren Buffett’s successor as chief executive of Berkshire Hathaway ($1 billion); Mr Musk’s brother, Kimbal Musk ($1.4 billion); and former vice-presidential candidate and Mr Brin’s ex-wife, Nicole Shanahan ($1.4 billion).
Overall, those on the list are worth a record $20.1 trillion, an increase of $4 trillion from last year. As the wealth of the world’s richest people is increasing.
Investor Warren Buffett is ranked 9th in the list. File photo: Reuters
Last year’s list included 3,028 billionaires.
The number of people with a net worth of more than $100 billion rose to 20, from 15 a year ago.
Forbes also estimates that crypto baron Changpeng Zhao, better known as CZ, is now richer than Microsoft founder Bill Gates with a net worth of $110 billion.
The six richest people on the billionaires list are all Americans, including Amazon founder Jeff Bezos ($224 billion), chief executive of Meta Mark Zuckerberg ($222 billion) and Oracle co-founder Larry Ellison ($190 billion), who also ranked high.
Mark Zuckerberg, the Chief Executive of Meta, has an estimated wealth of $222 billion. Photo: AP
French luxury goods titan Bernard Arnault and his family are in seventh place with an estimated net worth of $171 billion.
The top ten richest billionaires also include Nvidia founder Jensen Huang ($154 billion), investor Warren Buffett ($149 billion) and Spanish fashion mogul Amancio Ortega ($148 billion).
Only a handful of Britons placed lower in the rankings, including hedge fund manager Michael Platt. With an estimated net worth of $20 billion, he is ranked 120th in the list.
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mr musk The dollar also saw its biggest gain, adding $497 billion to its wealth.
Meanwhile, Chinese electronics company Xiaomi founder Lei Jun suffered the biggest loss, with his wealth falling by $15.6 billion.
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The average net worth of the world’s richest billionaires also increased to an average of $5.8 billion from $5.3 billion last year.
The list also excluded 89 individuals this year, including real estate developer Charles Cohen and entrepreneur and NASA chief Jared Isaacman.
While the list has traditionally been dominated by men, this year 122 self-made women were included, with a net worth of $462 billion.
The world’s youngest billionaire is 20-year-old heiress Emily Voigt Trejes, a Brazilian whose grandfather founded industrial machinery firm WEG, who has an estimated net worth of $1.1 billion.
Surya Midha, co-founder of AI hiring start-up Mercor, is the youngest self-made billionaire at the age of 22.
The American is one of 12 self-made billionaires under the age of 30 on the list.
