Jeff Bezos, Amazon founder
Jeff Bezos, the founder and CEO of the multinational retail company Amazon, one of the largest in the world, tops the Forbes rating. In 2020, Amazon's revenue soared by 38% to $386.1 billion. Importantly, in 2020, Bezos also took first place on the list of the richest people on the planet. Over the year, his fortune skyrocketed by $64 billion to $177 billion.
Elon Musk, CEO of Tesla and SpaceX
The second line of the Forbes rating is occupied by Elon Musk, whose fortune jumped by $126.4 billion in 2020. A year ago, the CEO of Tesla was just on the 31st position. However, during the year, he has achieved stunning results, rising to second place on the Forbes list. Currently, Musk's personal wealth has reached an impressive $151 billion. From 2016 to 2020, his income increased 14 times, more than anyone else in the world. It triggered the cosmic rise of the company's share price, adding 720% in 2020. Musk is the most successful billionaire of Donald Trump’s presidency era.
Bernard Arnault, Chairman and CEO of LVMH
Bernard Arnault, the CEO of the French conglomerate LVMH Moët Hennessy Louis Vuitton SA, takes third place among the richest people in the world. His fortune is estimated by Forbes at $150 billion. Last year, due to the coronavirus pandemic, LVMH's revenue plunged by 34% to €4.7 billion. Partly, the company incurred losses after a drop in demand for luxury goods. However, Arnault managed to recoup some of the early losses and regain the status of one of the wealthiest people in the world. In January 2021, LVMH acquired the Tiffany jewelry brand for $16.9 billion, including certain debt obligations. The purchase was the largest in the luxury goods segment, Arnault's fortune surged by more than $4 billion.
Bill Gates, Microsoft Founder
The fourth place in the Forbes ranking goes to Bill Gates, the founder of Microsoft. His fortune reaches $124 billion. Together with his wife Melinda, he heads the world's largest private charity foundation. He allocates a huge amount of money for the development of a vaccine against COVID-19. At the same time, the billionaire is the largest private owner of farmland in the United States. He owns 1,000 sq. km of agricultural land in 19 American states. Gates is deeply concerned about climate change and he is looking for solutions to improve the climate on the planet and the social responsibility of large companies.
Mark Zuckerberg, Facebook Founder
Mark Zuckerberg, the founder of social network Facebook, is on fifth place on the Forbes list. His fortune is estimated at $97 billion. After the election of Joe Biden, Zuckerberg's income gained $8 billion. Importantly, the rally of Amazon, Facebook, and Google shares have become the main engine of the current American market’s recovery. Zuckerberg’s private wealth had even exceeded $100 billion for some time. By the end of 2020, Facebook shares have advanced even higher. This growth was facilitated by the company's efforts to develop e-commerce and dominate the advertising market.
Warren Buffett, CEO of Berkshire Hathaway
Warren Buffett takes sixth place among global billionaires. He owns stakes in more than 60 companies, including insurer Geico, battery manufacturer Duracell and restaurant chain Dairy Queen. Currently, Buffett’s fortune totals $96 billion thanks to his wise investments. No wonder he is considered to be the king of the stock market. The CEO of Berkshire Hathaway also gives money for charity, working with the Bill and Melinda Gates Foundation. In July 2020, Buffett donated $2.9 billion worth of Berkshire Hathaway shares to charity.
Larry Ellison, Oracle Founder
The seventh position in the Forbes ranking is occupied by Larry Ellison, the founder of Oracle, a software company. His fortune is estimated at $93 billion. In 2021, Oracle was recognized as one of the largest software developers in the world. In addition, Larry Ellison invests in medical innovations and agricultural technologies. The businessman also donates money to projects aimed at fighting cancer and prolonging life. During the coronavirus pandemic, with the support of the Donald Trump administration, the billionaire developed a system for monitoring coronavirus patients. Ellison planned to collect the data necessary for the development of a vaccine against COVID-19.
Larry Page, Former CEO of Alphabet
Larry Page, the former CEO of Alphabet, a subsidiary of Google, is on eighth place among the world's wealthiest people. The businessman, whose fortune reaches $91.5 billion, founded the Internet corporation together with Sergey Brin in 1998. The partners have built the largest IT concern controlling the world's most popular search engine. Page is also the co-founder of Planetary Resources, a company dedicated to the exploration of the capabilities of the Earth's natural resources. In the first week of February 2021, his fortune increased by $10 billion thanks to the good earnings reports of Alphabet, the parent company of Google. Notably, during the week, the shares of the IT giant rose by more than 14%.
Economic inequality remains one of the most pressing issues in today's world. To measure the gap between the rich and the poor in each country, the Gini index is used. This coefficient reflects how income is distributed within a society: the closer the index is to 100, the greater the inequality. Let's explore which countries currently have the highest Gini index values
This year has been pivotal for Bitcoin, the world's leading cryptocurrency. One of the key milestones was the approval of Bitcoin spot ETFs by the US Securities and Exchange Commission. In April 2024, Bitcoin also experienced a halving event, which is typically seen as a positive development for the digital asset. This year, the cryptocurrency is up 57%, and analysts remain optimistic about its future. However, they highlight four key factors that could influence Bitcoin's trajectory, both for better and for worse
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