Elon Musk is the richest man in the world, but he is not alone. Bernard Arnault & family is the second one and Jeff Bezos is the third-richest man. Bill Gates, the founder of Microsoft is the fourth richest person in the world. Let’s take a look at each of these men and how they became rich.
Known in the world as a space rocket mogul, electric car salesman, purveyor of satellite internet, and Twitter troll, Elon Musk is a multifaceted and prolific businessman. His family was well-off and his mother worked as a professional dietician. His father, an engineer, co-owned an emerald mine in Zambia. His grandfather was an early leader of the technocratic movement, and his family was no different. Musk was raised with the belief that scientists could solve any problems, and his parents had the same philosophy.
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Elon Musk is worth over $234.5 billion, making him the richest man in the world. He holds a majority stake in two of the world’s biggest companies, Tesla and SpaceX, and his share in SpaceX amounts to about $170 billion. Both companies added massive amounts of value in the last year. Elon Musk’s fortune is also growing rapidly. Bezos and Musk are rivals in the billionaire space race, and he is announcing new rockets and plans to use them to launch astronauts into space.
LVMH, the luxury goods conglomerate headed by Bernard Arnault, has raised the age limit for CEOs and has created an opportunity for younger CEOs to rise up through the ranks. LVMH owns a number of luxury brands including Louis Vuitton, Chanel, and Moet & Chandon, as well as Louis Vuitton, Bvlgary, and TAG Heuer. In 2002, LVMH had $13 billion in sales, and the company-owned brands such as Louis Vuitton, Chanel, and LVMH.
Born in France, Arnault, and his family emigrated to the U.S. in 1981. He joined his father’s construction business and worked as an engineer for the company. Then, after graduating from the Ecole Polytechnique, he convinced his father to shift his focus to real estate. During the 1970s, he sold his Mediterranean-style home to a neighbour who would later demolish it and turn it into a luxury real estate company.
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LVMH CEO Bernard Arnault is worth an estimated $149.7 billion according to Forbes. His companies have a global presence, with sales in China and other parts of Asia. During the COVID-19 pandemic, Arnault’s wealth shrank by over 30 billion dollars, but by 2022 it has increased to $149.7 billion.
Amazon’s founder, Jeff Bezos, has made the company into one of the most valuable companies in the world. Bezos owns over a third of the company and is its biggest stockholder, with an estimated 16% stake. His fortune has grown with the company’s stock price, and he has sold almost $27 billion worth of shares since the company’s IPO in 1997.
The company’s success has led Jeff Bezos to invest a considerable portion of his fortune in ventures, including Blue Origin, an aerospace company that plans to transport tourists to space by 2021. Bezos’ investments are reflected in his public-relationship-based investments. For example, his 165,000-acre Corn Ranch is the base for his company Blue Origin, which plans to launch the New Shepard rocket to space.
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While Bezos was the richest person in the world last year, he will no longer be a part of the company. His net worth will fall by about $6 billion after he divorced his college sweetheart MacKenzie Scott in April 2019. Now his worth is $142.2 billion.
Bill Gates is the fourth richest person in the world. His fortune came from Microsoft, founded by him and Paul Allen in 1975. Microsoft has since become a multi-billion dollar company, dominating internet technology, software development, and mobile communications. It has risen above early calls to split up and is now the world’s most valuable company. As of the beginning of 2018, Microsoft is worth more than $1 Trillion dollars. Microsoft’s profits are estimated to be $22.5 billion per year.
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Bill Gates has been the richest person in the US since 1991. In July 2019, his net worth had increased by $23 billion, making him the second-richest man in the world behind Jeff Bezos. But despite his enormous wealth, Gates is far from outliving Bezos. Now his worth is $124.9 billion. Read More