Monday, May 16, 2022

Who is the richest person in the world?

A lot of people are wondering, “who is the richest person in the world?” The answer has been debated many times, but it’s hard to say with exact certainty. Some sources say that Bill Gates is the wealthiest man on earth while others point to Carlos Slim Helu and Warren Buffett. One thing we can all agree on though- whoever it is, he or she must be a really smart business person.

Who is the richest person in the world?
Who is the richest person in the world?

The richest person in the world is Bernard Arnault. He earned his fortune through luxury goods conglomerate LVMH, which includes brands like Louis Vuitton and Dior. Bernard Arnault is the chairman of Louis Vuitton Moet Hennessy has become the world’s richest person. He is a fresh businessman and a $196 billionaire. Until 2021 Jeff Bezos who is the Amazon founder was the richest person in the world. But now Arnault has surpassed Jeff with the difference of $4 billion.

Man Who Beat Jeff Bezos In The Race for World’s Richest Person:

The Amazon founder’s net worth dropped $13.9 billion a day causing Bernard the world’s richest person. Previously Arnault was leading the world’s wealthiest people in 2019, 2020, and 2021. He is also head of the world’s 70 richest brands in fashion like Moynar, Donna Karen, Givenchy, Marc Jacobs, Tiffany & Co, Sephora, Thomas Pink, Nicholas Kirkwood, Bulgari, Loro Piana, De Beers, TAG Heuer, Fendi, Emilio Pucci, etc.

96.5% shares in Christian Dior, which manages 41%, Louis Vuitton. Arnault’s business became likely while working for a construction firm owned by his father. He took control of Ferret-Sanvinel in 1971 and converted that to a real estate company named Ferinel Inc in 1979.

He was a chairperson for Ferinel’s for six years until he reorganized and gained luxury goods maker Financiere Agache in 1984. All the shares have been sold other than Le Bon Marche and Christian Dior. He invested in Louis Vuitton in 1987 becoming the majority stakeholder, and as CEO of the company after two years.

Top 3 Worlds Richest People 2021 list:

  1. Bernard Arnault ($196 Billion)
  2. Jeff Bezos ($186 Billion)
  3. Elon Musk ($160 Billion)

A history about Bernard Arnault (Richest person in the world)

No.1 Richest Person in the world Bernard Arnault
No.1 Richest Person in the world Bernard Arnault

The chairman and chief executive of LVMH (Louis Vuitton Moet Hennessy, a French multinational luxury goods conglomerate) are Bernard Arnault, who is the richest person in France. He made his fortune through mergers and acquisitions. One of LVMH’s subsidiaries, Christian Dior, was taken over by Bernard Arnault after its long-time owner passed away.

Now it is one of the most prestigious brands in the fashion industry. Currently, there are more than seventy LVHM brands under management, including Paul Hermann Chaudron which makes perfume for Louis Vuitton, and Loewe which can be considered as a competitor to Gucci or Bottega Veneta with very reasonable pricing. In addition, the company has taken over other renowned brands such as Christian Lacroix in 2002 and Rocher in 2004.

Bernard Arnault is no doubt a very successful businessman. In fact, he is one of the few tycoons who has successfully created their own brand rather than unified multiple businesses under one roof to become an empire. But there is another side of Bernard Arnault-he has been involved in several disputes about his wealth with the French government for years because he holds most of his assets overseas to avoid paying taxes on them.

  • Name: Bernard Arnault
  • Net worth: $196 Billion
  • Age: 72 years (As of August 2021)
  • Source of wealth: LVMH

A history about Jeff Bezos the Amazon CEO

No.2 Richest Person in the world Jeff Bezos
No.2 Richest Person in the world Jeff Bezos

The 57-year-old(As of 2021) Jeff Bezos, born in 1964, is the youngest son of the Cuban immigrant, Mike Bezos. He was raised in Florida. His mother Jacklyn was a teenager when she married his father and had to drop out of school for raising her sons. She came from a wealthy Mississippi family and passed away in 2004 after several unsuccessful surgeries due to cancer. His older brother Mark is currently the oldest male billionaire alive (as of 2016) with $25.2 billion at his disposal, and he resides on a ranch in West Texas which he runs as a cattle estate with his wife and three children where they raise cutting horses.

After graduating from high school early at 16, Jeff enrolled in Princeton University with an interest in computer science but later changed to electrical engineering. Then in 1986, after 2 years, he graduated with the highest GPA in his class and immediately started working for D. E. Shaw & Co which is a New York-based Hedge Fund company founded by David Edward Shaw who also worked at IBM as a Research Scientist before founding the fund firm.

Initially focused on algorithmic trading which later became one of the most successful scientific hedge funds ever created earning its creator David Shaw close to $3 billion USD only during 2017 alone just from his share in equity (his personal wealth is at least estimated to be around $1 billion).

Later Jeff moved to New York where he met his wife MacKenzie, a former senior editor at “Newsweek” magazine who also worked for a short while at the hedge fund firm The New York Times Company. They married in 1993 and resided with their three children in the suburbs of New York City where Jeff led his own company called Blue Origin which is one of the leading space travel engineering companies in the world currently working on reusable rocket technology. Blue Origin has big plans to colonize Mars by 2024 as it launches its first rockets into low earth orbit sometime during this year (2016).

  • Name: Jeff Bezos
  • Net worth: $186 Billion
  • Age: 57 years (As of August 2021)
  • Source of wealth: Amazon

A history about Elon Musk Tesla CEO

No.3 Richest Person in the world Elon Musk
No.3 Richest Person in the world Elon Musk

Elon Reeve Musk was born on June 28, 1971, in Pretoria, Transvaal in South Africa. He is the oldest son and the second child among three brothers. His father Errol Musk who left his family when he was nine years old and his mother Maye (Haldeman) are both Canadian-South African-born. From his mother’s side, he has English ancestry as well as French Huguenot ancestry from her maternal grandmother.

Elon also has Pennsylvania Dutch ancestry through his father and grandfather. After leaving college in 1989 when still a teenager to pursue entrepreneurial ventures, Elon started Zip2 Corporation in 1995 and later that year, moved to California. By 1999, the company developed an online city guide called Zip2 which provided maps, directions, and business listings for cities throughout the United States as well as in Canada; South Africa; the UK, and France. The following year, he attended Stanford University where he studied physics before dropping out in two days because of disillusionment with life on a college campus.

Then in June 2004, Elon founded Tesla where he serves as its CEO along with his automotive engineer partner JB Straubel. They also jointly serve as Directors and are the company’s largest stockholders which together hold about 28% of their electric vehicle (EV) manufacturing and design company. In September 2012, they launched Tesla Model S a fully electric four-door luxury sedan that is able to reach 60 mph in 5 seconds from a standstill. Currently, Tesla vehicles sell in thirty countries and territories worldwide supported by over 1,000 high-speed Supercharging stations globally allowing road trips to travel to long distances such as LA to NY coast or LA to SF Bay Area.

In 2009, they signed a deal with Daimler AG for the creation of an electric Mercedes-Benz A-Class which was made available in Europe before the US versions followed suit. The following year, Tesla Motors launched its first lithium-ion battery-based energy storage power grid known as Powerwall and Powerpack home and commercial batteries respectively supporting backup power applications for homes or businesses allowing them to have uninterrupted access to electricity even during blackouts.

The company also produces solar panels in partnership with Panasonic called SolarCity that is based in San Mateo, California. It has been providing high-efficiency solar panels since 2006 with a similar business plan of installing, maintaining, and designing custom solar systems for homeowners consisting of rooftop photovoltaic systems, solar roof tiles called Solar Roof or solar glass shingles available in four styles.

In 2013, Tesla announced its plans to commercialize the Model S as a 2014 model where it was noted for having the lowest drag coefficient of any production car before making its European debut at the Paris Motor Show and then went on sale in June that year. Tesla’s third vehicle said to have “zero-emission all-electric long-range transportation” called Model X made its first retail deliveries in September 2015. It is an all-electric crossover SUV built on the same platform as the Model S but with falcon doors allowing easy access to second and third-row seats. In July 2017, after more than a thousand cars were sold in Norway in 2016, Tesla became the top-selling car in the country.

  • Name: Elon Musk
  • Net worth: $160 Billion
  • Age: 49 years (As of August 2021)
  • Source of wealth: TESLA

How Net Worth Of An Individual Is Calculated?

Net worth is determined by valuing all the assets that belong to a specific person or corporation, liabilities are not included. The net worth can be calculated by totaling all the assets, investments, properties, cash. All debts were also subtracted and also provide a record of the current financial position. Including all the other factors at the end, a financial report card was produced basing on the status of the current situation.

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