If your portfolio had a rough time last year, know you’re not alone.
The richest 25 people in the world lost a collective $200 billion in net worth in 2022, according to Forbes’ 2023 World Billionaires List released this week. That brings their collective worth down to $2.1 trillion as of March 10.
Both the number of billionaires in the world and their volume of wealth are down. While 254 people lost their billionaire status last year, the remaining 2,640 billionaires lost a combined $500 billion. Embattled FTX founder Sam Bankman-Fried and Kanye West are among those who left the club.
Despite Twitter drama and sliding Tesla shares, Elon Musk didn’t wind up losing the most last year, according to Forbes. That title goes to Jeff Bezos, whose net worth dropped $57 billion due to a 38% drop in Amazon’s stock price as of March 10.
Musk ended up losing just $39 billion, but dropped from the top spot to No. 2 in the rankings.
Bernard Arnault, head of luxury conglomerate LVMH, earned the No. 1 spot after adding $53 billion to his net worth in 2022, launching him to the top of the richest list for the first time.
Here are the 10 richest people in the world as of March 2023, according to Forbes.
1. Bernard Arnualt & family
- Net worth: $211 billion
- Source of wealth: LVMH (France)
2. Elon Musk
- Net worth: $180 billion
- Source of wealth: Tesla, SpaceX
3. Jeff Bezos
- Net worth: $114 billion
- Source of wealth: Amazon
4. Larry Ellison
- Net worth: $107 billion
- Source of wealth: Oracle
5. Warren Buffett
- Net worth: $106 billion
- Source of wealth: Berkshire Hathaway
6. Bill Gates
- Net worth: $104 billion
- Source of wealth: Microsoft
7. Michael Bloomberg
- Net worth: $94.5 billion
- Source of wealth: Bloomberg LP
8. Carlos Slim Helú & family
- Net worth: $93 billion
- Source of wealth: Telecom
9. Mukesh Ambani
- Net worth: $83.4 billion
- Source of wealth: Reliance Industries (India)
10. Steve Ballmer
