The fortunes of many of the world’s 2,640 billionaires declined this year, including those among the 25 richest people in the world, whose combined net worth fell by $200 billion to $2.1 trillion, according to Forbes’ World’s Billionaires list released on Tuesday. Two-thirds of the top 25 saw their wealth shrink compared to about half of the overall list.
Jeff Bezos suffered the most significant loss, with Amazon shares plummeting 38%, reducing his fortune by $57 billion and causing him to slip from second to third place. Elon Musk, the second-largest loser this year, lost his title as the world’s richest person after purchasing Twitter, which he partially financed by selling Tesla shares, spooking investors. Musk’s net worth is now $39 billion less than last year, placing him in second place.
Two individuals dropped out of the top 25 this year: Tik Tok-parent Bytedance founder Zhang Yiming, who slipped from 25th to 26th place, and Binance founder Changpeng Zhao, known as CZ, who fell from 19th place to 167th amidst the cryptocurrency downturn.
However, not all the richest individuals experienced losses. Bernard Arnault, CEO of luxury goods titan LVMH, saw his fortune increase by $53 billion, propelling him to the top spot for the first time. Eight other members of the top 25 also saw their wealth grow since the 2022 ranking, including Spanish retailer Amancio Ortega, Bloomberg LP cofounder and former New York mayor Michael Bloomberg, and Mexican telecom tycoon Carlos Slim Helú.
As a result of the shifting fortunes, two billionaires joined the top 25 this year: Canadian media mogul David Thomson and Nike cofounder Phil Knight.
Americans hold 17 of the top 25 positions, followed by France and India, each with two representatives. The majority of the top 25 billionaires amassed their fortunes in technology (eight members) and fashion & retail (seven).
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List of Top 25 Richest People in the World 2023
According to Forbes, Here are the list of Top 25 Richest People in the World 2023