The world seems to be getting richer day by day. Even in the times of COVID-19, there seem to be no signs of wealth slowing down, in the hands of ultra-rich. The billionaires, which are spread throughout the whole world, including Asia, the United States, Europe respectively. Most of them are self-made, with the possible exception of the Gulf monarchies, who amassed vast fortunes, due to high oil prices, in the 1970s. The list though hasn’t changed much, with Amazon founder, Jeff Bezos, leading the pack, followed by Bill Gates, stock guru Warren Buffet.
The surprise entry this year is Indian petrochemicals tycoon Mukesh Ambani, who has climbed up to the fourth position in the list, with his net wealth soaring up to eighty billion dollars. The fantastic success of Reliance Jio, which is providing the cheapest broadband and the smartphone, worth only 50 USD, has captured the whole Indian market and taken the world by storm. Broadband rates, offered by Reliance Jio, are now the envy of the world. It is as low as 0.07 USD per 1 GB of data. Now, let us examine this record wealth in detail.
One of the most invigorating ingredients of this fantastic wealth of billionaires, is that majority of them are self-made. If you look at all the list of all the twenty-five billionaires, you will find almost all of them started from scratch. The billionaire’s list is highly diversified, with individuals in nearly all the fields like finance, footwear, healthcare, tech etc.
Starting with Len Blavatnik, who commenced his business, by creating Access Industries in 1986, which is into aluminium extraction and processing. He is also the possessor of Warner Music, which he acquired for 3.3 billion USD. Currently, Blavatnik is estimated to be worth around twenty billion dollars.
One of the wealthiest Chinese origin entrepreneurs, is Ka-Shing, is the owner of Hutchinson Whampoa, which also acquired the second-largest mobile operator, O2 based in Britain. Shing has recently invested twenty-three million dollars in egg-replacement and plant-based firm Hampton Creek, with the help of his startup firm Horizon Ventures. Shing has a net worth of twenty-one billion dollars.
Who can forget the legendary sports shoes ‘Nike’, which is perhaps the largest selling shoe in the market? Its founder Phil Knight started the firm five decades ago, with five hundred dollars. Today, the brand Nike is worth eighty-six billion dollars. Phil Knight’s net worth more than twenty-one billion dollars.
Carl Ichan, the financial tycoon, created Icahn Enterprises, which is a diversified holdings firm, in the year 1987 and is present in almost all the fields like energy and technology. Ichan has assets estimated to be around twenty-three billion dollars.
New York’s wealthiest individual, Michael Bloomberg, who is the wealthiest media tycoon, commenced his career at Salomon Brothers as a stock trader and then as a partner. Later he created Bloomberg LP in 1981 and has assets worth thirty-three billion dollars.
Today, life is unthinkable and going to any party is inconceivable, without the presence of glasses like Ray Ban, Oakley, Versace, Prada etc. The owner is the legendary Leonardo Del Vecchio, who created Luxottica and is the largest eyewear retailer globally. The firm commenced in 1961 and also made glasses for world-class luxury brands like Versace, Burberry etc. Vecchio is worth twenty-three billion dollars and recently, gave ten million dollars worth of shares to all his Italian staff, for celebrating his eightieth birthday.
The guru of the stock market, Warren Buffet bought his first stock at the age of eleven, and he is the creator of Berkshire Hathaway, having the highest valued shares in the New York Stock Exchange. He is third most prosperous on the list with around ninety billion dollars.
Another legendary investor, who broke the Bank of England, George Soros, created Quantum Fund, in 1973, which is a hedge fund, as a part of the Soros Fund Management Company. One of Soros incredible moves occurred in 1992, by shorting the British pound, which made the fund earn up to one billion dollars in one day. Soros, who migrated to the United States, from Hungary as a Jewish, Second World War refugee, without a penny in his pocket is worth about 25 billion USD today.
The father of the information revolution and probably, the most impactful people in the world, who created the company of the century, information giant, Google are Larry Page and Sergey Brin respectively. Sergey Brin studied PhD in computer science at Stanford University, where he met Larry Page and both created BackRub project in 1996, in their dormitory rooms. Both of them quit Stanford, to start their favourite firm Google. Currently, Brin and Page are worth thirty-one and twenty-nine billion dollars, respectively.
The guru of social media, Mark Zuckerberg, made Facebook when he was in his sophomore year at Harvard, and then moved to California to increase the company’s growth. The IPO of Facebook raised sixteen billion dollars in 2012. Today, Zuckerberg and his wife, Priscilla, is worth a hundred billion dollars.
Probably, the most famous billionaire in this list is the founder of Microsoft, Bill Gates, who created the software giant, along with his colleague Paul Allen, in 1975, after dropping out of Harvard. Today, Gates has a fortune of 100 billion USD.
Despite this year’s COVID pandemic, the wealthiest person on this list Jeff Bezos, wealth has zoomed up to two hundred billion dollars. Tech firms have benefited tremendously, from this pandemic, since more and more people are shopping behind doors and are socialising more.
In this blog, readers will come to know how the wealth of the global billionaires has reached a vast ten trillion dollars.