Forbes, which is the business magazine of the US has published the 37th edition of its yearly billionaires ranking. This list has positioned French business magnate Bernard Jean Étienne Arnault in first place with an amazing net worth of $211 billion.
Arnault is the founder and CEO of the globe’s biggest brand of luxury goods – LVMH Moët Hennessy Louis Vuitton. He is the only billionaire on the list to have a net worth of more than $200 billion.
The second position is ranked by Tesla CEO Elon Musk who has a net worth of $180 billion. The third position is bagged by Jeff Bezos, fourth by Larry Ellison, fifth by Warren Buffett, sixth by Bill Gates, seventh by Michael Bloomberg, eighth by Carlos Slim Helu & Family, ninth by Mukesh Ambani, and tenth by Steve Ballmer.
Check out their net worth below.
Rank Wealth Name
1 $211 billion Bernard Arnault
2 $180 billion Elon Musk
3 $114 billion Jeff Bezos
4 $107 billion Larry Ellison
5 $106 billion Warren Buffett
6 $104 billion Bill Gates
7 $94.5 billion Michael Bloomberg
8 $93 billion Carlos Slim Helu & Family
9 $83.4 billion Mukesh Ambani
10 $80.7 billion Steve Ballmer
The reason that almost half of all billionaires mentioned in the list have declined net worth than last year is due to falling stocks, not-so-profitable unicorns, and increasing interest rates. All over the world, the list of billionaires includes 2,640 ten-figure fortunes, which has come down from 2,668 in 2022.
For the unversed, Jeff Bezos who ranks third in the list is the founder and CEO of Amazon and you will already know how the company is one of the largest e-commerce and cloud computing companies. Bezos is followed by Larry Ellison who is the most successful investor.
Mukesh Ambani has made India proud by attaining the ninth position in the list with his group of companies Reliance Industries. Reliance has companies in oil and gas, petrochemicals, telecom, and retail and was started by Mukesh’s father Dhirubhai Ambani in 1966.
With the news of him being India and Asia’s richest person, there is another update on how Reliance Industries is aiming for a big disruption in the futuristic market of electric vehicles. Reliance Industries recently released its new product at the Battery Show event held in Greater Noida.
The product is a swappable and multipurpose battery storage technology for two-wheeler electric vehicles in India. It is one part of the company’s huge $10 billion clean energy push. Interestingly, this product can also be used to provide power supply to household appliances through an inverter, according to a report.
The Indian EV battery market is predicted at $5.9 billion (over Rs 49000 crore) in 2023, aiming to cross $10.14 billion by 2028.
The new product comes from RIL’s two important acquisitions, which included two battery companies Faradion and Lithium Werks purchased for around $200 million in 2021 and 2022 respectively.