For only the second year in the last 10 years, both the number of billionaires and their total wealth reduced. This proves that even the wealthiest are not immune to economic forces as well as weak stock markets. According to Forbes, there are currently 2,153 billionaires in the world, 55 fewer than a year ago. Of those, a record 994, or 46%, experienced a decline in their net worth over the course of the last 12 months. The total net worth of the ultra-rich is currently put at $8.7 trillion, down $400 billion from 2018.
A total of 247 people representing 11% of last year’s list members, dropped out of the ranks, the most since 2009 when the global recession reached its peak. The Asia-Pacific region was hardest hit, with 60 fewer billionaires than last year. China leads in that regard as the number of billionaires in the country dropped by 49. Europe, the Middle East and also Africa equally got hit. Only the Americas, driven by a resurgent Brazil, and the U.S. are the two regions that experienced changes in the number of billionaires than they had a year ago.
It is said that Warren began investing at the age of 11 when he made his first stock purchase. At the age of 13, he filed taxes for the first time. He earned a Bachelor degree from University of Nebraska Lincoln to which he added a Master of Science from Columbia University. Warren Buffet is widely seen as a philanthropist who has donated almost $32 billion to charity so far with a promise to donate up to 99% of his wealth. In the year 2010, Warren Buffett teamed up with fellow billionaire Bill Gates in setting up the Giving Pledge.
The 82-year-old Ortega started his business career as a member of a small family owned textiles producing firm in the year 1963. Later in 1975, Amancio Ortega founded Inditex together with his late wife Rosalia Mera. Inditex is widely recognized for its Zara fashion group. The establishment of this fashion outfit made Ortega an innovator in fast fashion. Amancio controls about 60% stake in Madrid-listed Inditex, which has 8 brands under it, including Massimo Dutti and Pull & Bear, as well as 7,500 stores all over the world.
After this, he serves as president of products before again taking up the CEO role in 2011. The bulk of Larry Page’s wealth comes from the 6% stake he has in Google. His net worth in 2020 stands at $50.8 billion. Page lives in Palo Alto, California and is currently not married. He is reportedly funding two secretive flying car startups: Zee. Aero and Kitty Hawk personally.
Here are the Top 100 Wealthiest Person In The World 2020
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This is the most recent list of the top 100 Richest People in the world according to Forbes magazine. Each year, Forbes tracks of the wealthiest people in the world and release its estimated net value of these moneybags. Topping the list this year is Jeff Bezos, the e-commerce giant who founded Amazon. Closely following behind him is Microsoft CEO, Bill Gates while the great investor, Warren Buffet rounds up the list. While some members of the billionaire’s list from 2018 dropped out, some new entrants were welcomed with the richest of them being Colin Huang who made the top 100 in 94th place.
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Tag: Top 100 Richest People In The World 2020 – Net Worth And Biography