Influential and powerful, billionaires wield immense control over the global economy, spanning realms such as politics, media, philanthropy, and innovation. Many of these individuals have established multinational corporations, employing thousands, if not hundreds of thousands, of people worldwide, and contributing to the success of iconic brands such as Microsoft, Amazon, Tesla, Google, and Nike. Unlike those who inherited their wealth, the majority of billionaires are self-made, having amassed their fortunes through their own entrepreneurial ventures. Nevertheless, some, like Bernard Arnault and Rupert Murdoch, leveraged their family businesses to initiate their rise and eventually establish vast empires in their respective industries.

The fortunes of numerous billionaires are closely tied to the stocks of the companies they founded. As stock prices fluctuate, so does their net worth. Forbes’ latest rankings reveal that on April 1, 2023, Mike Bloomberg, the founder of Bloomberg LP, held the seventh spot as the world’s wealthiest person. However, during April, the rising stock prices of Mexican telecom tycoon Carlos Slim Helu, former Microsoft CEO Steve Ballmer, and French cosmetics heiress Francoise Bettencourt Meyers propelled them ahead of Bloomberg, placing him at the tenth position. The reigning champion of wealth, Bernard Arnault, witnessed a staggering increase of nearly $11 billion since April 1.

Meanwhile, Facebook’s rebranding as Meta Platforms caused a dip in the fortune of its founder, Mark Zuckerberg, who previously held the fifth spot with a worth of $97 billion. Although Meta’s stock rebounded, including a substantial surge in late April 2023 after the announcement of quarterly earnings, Zuckerberg has yet to reclaim his position in the top ten. As of May 1, 2023, he stands at No. 14, with a net worth of $85 billion, a slight increase from the previous month.

Another notable shift occurred in Asia, where Gautam Adani surpassed Mukesh Ambani to become the region’s wealthiest person in February 2022. Adani experienced a remarkable surge of $55 billion in his fortune the previous year, reaching the global podium as the third richest individual, valued at $127 billion. However, on January 24, short seller Hindenburg Research published a scathing report accusing Adani Group of fraudulent practices, which the billionaire vehemently denied. Since then, Adani’s listed companies have witnessed significant stock declines. As of May 1, he occupies the 24th position, with a net worth of $50.2 billion, a slight increase from April 1.

According to Forbes, here are the top ten richest people in the world as of May 1, 2023, at 10:30 a.m. Eastern time. Please note that these rankings are subject to daily fluctuations due to stock market volatility.

By: Christian Madsen