Elon Musk Tops The World’s Rich List As Crypto Billionaires Climb The Rankings


Tesla CEO and Pretoria-born Elon Musk is by far the richest person in the world, according to the recently released Hurun Global Rich List 2022, with a total personal wealth of $205 billion (over $3 trillion). rand).

Musk’s astonishing rise to become not only the richest person in the world, but also the first to carve out a personal fortune north of $200 billion, has been fueled by the vehicle market leader’s extraordinary rise electric, Tesla.

Tesla sold 936,000 cars in 2021, 87% more than the 2020 figure. Last year, Tesla struck a deal to sell 100,000 vehicles to car rental company Hertz, the biggest deal ever for electric vehicles.

It took Tesla just 11 years to reach a market capitalization of $1 trillion, giving it a market value greater than the combined value of the nine largest automakers, including General Motors, Ford, Toyota and VW. .

Tesla’s valuation appears to defy conventional logic and has attracted heavy short sellers, including The Big Short’s Michael Burry. Tesla stock price is down a third from its high of $1,200 in January.

Tesla is ranked the sixth-largest company in the world with a market capitalization of $1.03 trillion, behind online retailer Amazon, with a market capitalization of $1.68 trillion.

The next richest…

Amazon founder Jeff Bezos is ranked by Hurun as the second richest person in the world with a fortune valued at $188 billion.

Third on the list is Bernard Arnault, CEO of luxury goods company LVMH, who has seen his fortune soar 34% to $153 billion in the past year.

Microsoft founder and once the richest person in the world, Bill Gates, despite his divorce from Melinda, managed to increase his wealth by 13% to amass a fortune of $124 billion. (Ex-wife Melinda made the Hurun list in her own right with $11 billion.)

Berkshire Hathaway’s Warren Buffet has had a respectable year, ranking number five on the world’s richest list, adding 31% to his $119 billion total – most fueled by the rising tide of the stock market.

Next on the list are Google Parent Alphabet founders Sergey Brin and Larry Page, with $116 billion each.

Hurun says there are now 10 billionaires worth over $100 billion, which is a huge concentration of economic power.

Steve Ballmer, former CEO of Microsoft, comes in eighth place with $107 billion, followed by Mukesh Ambani, chief executive of India’s largest Reliance Industries. Ambani is worth around $100 billion, as is Bertrand Puech, 10th, a scion of luxury goods company Hermès.

Ambani is currently in competition with Bezos to take control of a $3.4 billion retail group in India owned by former Indian billionaire Kishore Biyani. Ambani also announced its foray into green energy by announcing an US$8 billion plan to set up four gigafactories for the manufacture of solar power, batteries and hydrogen.

Space race for billionaires

Billionaires spend their fortunes on space exploration.

Musk’s SpaceX was supposed to hold around 45% of the world’s commercial space launch contracts in 2017, while space rival Bezos launched Blue Origin in 2000 to monetize space rockets.

Virgin founder Richard Branson tried his own vehicle when in July 2021 he flew his Unity rocket plane to the edge of space, the first such space-touring flight and the one that is now sold for $250,000 a pop.

Japanese fashion billionaire Yusaku Maezawa, 46, has become the first space tourist to visit the International Space Station in more than a decade.

Cryptobillionaires

The report shows that 17 new crypto billionaires were created in 2021. Topping the list is Binance founder CZ Zhao Changpeng, whose fortune of $23 billion grew by $15 billion over the course of the year. year. Binance is the largest crypto exchange in the world, a remarkable achievement for a company founded just five years ago.

Sam Bankman-Fried, just 30, has amassed a fortune of $22 billion (which has doubled over the year) from his holdings in crypto exchange FTX.

Coinbase has also created a group of millionaires, including Brian Armstrong, with a reported 19% stake in the company that operates a cryptocurrency exchange. That stake was worth about $10 billion, down substantially from its listing peak nearly a year ago.

Top “Rich List” Countries

China has 17% of the world’s population and 34% of the world’s “known” billionaires, up from 30% last year. Of the roughly 60 people living outside Greater China, favorite residences were Southeast Asia, particularly Singapore, and the United States.

China continued to slip away from the United States in terms of billionaires, adding 75 to reach 1,133.

The United States was second with 716 billionaires, up 20.

China and the United States have 55% of the world’s known billionaires.

India added 38 to consolidate third place, while the UK overtook Germany for fourth place. Russia fell one spot to eighth place, with 72 billionaires – 13 less, due to the collapse of the ruble and sanctions since the Russian-Ukrainian war.

Indian billionaires have doubled every five years, with now over 200 in India. Interestingly, the proportion of non-resident Indian billionaires on the Hurun Global Rich List has halved over the past five years compared to onshore billionaires.

Only five billionaires donated more than $1 billion last year, Hurun says.

“Billionaires don’t follow philanthropy, making money much faster than they give it away.”

Source: JDYD Liquor – Hurun Global Rich List 2022

Among the South Africans on the list are Johann Rupert, who has seen his fortune more than halve to $10 billion in the last year, De Beers alumni Nicky Oppenheimer (worth of $8.1 billion), Koos Bekker of Naspers ($2.6 billion), Patrice Motsepe of African Rainbow Minerals ($2.3 billion) and Michiel le Roux of Capitec ($1.6 billion ).

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