Do you know billionaire is the foundation of the world economy? They are the individual who plays an oversized part in shaping philanthropy, politics, and the economy globally. There are around 2,755 billionaires right now, but all are at the same level? Of course not. The wealthiest amongst them related to the more special club and held more power. There is an interesting thing about them. Many of them are part of or the founder of the giant’s technology. What does it mean? It shows that their wealth was invested in the firm they began.
They can, yet, still borrow that assets to ignore selling stock eliminate and defer taxes on capital gain (unrealized) in the methods. Multi-billionaires can benefit from the tax panoply removal to cancel reported income, leaving some on the list paying zero income tax in current years.
The richest man in the World Net Worth
So, with much of their assets in traded stocks (publicly), the net amount of the richest person in the world can fluctuate. It depends on the market valuation. For instance, Elon Musk, CEO and founder of Tesla. As per FEB 28, 2022, the richest individual globally saw this total asset wave in 2021. It was all due to the incredible rise in the Telsa share prices. Where Elon Musk owns around 17% share of the firm and in 2021, Musk sharing raised 32% and more.
In contrast, Mark Zuckerberg, the CEOa nd Founder of FB moved out from the top ten richest men in Feb 2022. When the share price of Meta fell 26% after the unsatisfactory earning reports, the net worth of Mark Zuckerbergs is notably down in 2022 (45$ B as of February 28, 2022).
Who is the Richest Man in the World
The 3-ways race among the wealthiest individual globally intensified Thu as Elon, worth estimates 177.4$ B at the end of the day; overtook Bernard Arnault, the French magnate at 2nd place. Bernard kept pole place to begin the week, or almost 21 dollars a billion more lacking over the last 2 days as the shares of LVMH tumbles 12.6%. So, this led to Jeff Bezos, the founder of Amazon, reclaiming the high spot with his fortunes around 185.5$ B. But there has change in 2022.
Right now, Elon Musk is the richest man globally. So let us find out more about him in detail.
Elon Musk: The richest man in the world
Elon Musk Age: 50
His Residence: Texas
He is the CEO and founder of : Tesla
His Net Worth: $223 billion
About his Tesla Ownership Stake: is 150 dollar Billion or 17%
His Other Assets are: Space Exploration Technologies (40.3 dollars B personal asset), 5.53 dollar B in cash
Youth and His Growth
He was born in SOUTH AFRICA and in Canada; he attended university before shifting to the University of Pennsylvania; from there, he got his bachelor’s degree in economics and physics. So, here comes the interesting part here. 2 days after registering in the economics and physics bachelor’s degree program, Elon deferred attendance. BUT WHY! He launched ZIP2; it is the earliest and most useful navigation service. He then reinvested the portion of the profits from this to make X.com. The online payment process was traded to eBay or eBay, and eventually, he became PAYPAL Holding.
Tesla Motor Funder
Elon Musk became the main funder of TESLA OR Tesla Motors, which was directed to this new position as the CEO of the vehicle company (electrical vehicle).
Along with the electric automobiles, he also introduces energy storage accessories, automobile devices, and its purchases of SolarCity, a solar power plan (2016).
Elon Musk, also the chief engineer and CEO of SpaceX, is the developer of a pace launch rockets.
Tesla shares skyrocket 640%, pushing Musk up in the wealth ranking in 2020. In Dec 2020, he joined S&P 500 and became the biggest firm. Finally, in 2021 he became the world’s richest man, and till today, he is holding this title
Richest man of 2023
So, all thanks to the rise in the share of Tesla via Oct 2021 and the private transaction in October that increased the Space X reported valuation Elon charge in wealth ranking globally and continues to develop. Do you know on Nov 21, his net wealth was 340 dollars B? As of February 28, 211, Elan’s net worth has boosted by 39 dollar B during the last twelve month