Forbes updates its billionaire list each month with the names of the wealthiest businessmen in the world based on their total net worth. This list is dynamic and subject to change based on each person’s net worth and asset performance.
The wealthiest people’s net worth may change with market prices since a large portion of their money is invested in publicly traded equities. For instance, Elon Musk, the world’s richest man and creator and CEO of Tesla (TSLA), witnessed a gain in his net worth in 2021 due to a growth in Tesla share price, with Tesla shares climbing by nearly 50% in that year. As of October 2022, he was valued at $207.7 billion.
So, here is the list of the top 10 businessmen as of October 2022.
1. Elon Musk ($207.7 Bn)
In 2004, Musk invested a sizable amount in Tesla Motors (now Tesla), which helped him advance to his current designation as CEO of the electric vehicle company. Through its 2016 acquisition of SolarCity, Tesla now produces solar power systems, energy storage devices, and automobile accessories in addition to electric automobiles. Musk also serves as the president and chief engineer of the space launch rocket business Space Exploration Technologies (SpaceX).
A rise in Tesla stock in 2021 and private transactions that raised SpaceX’s reported value have extended Musk’s lead in the list of the world’s wealthiest people. His wealth reached its high of $340 billion in November 2021.
2. Bernard Arnault & Family ($147.8 Bn)
LVMH – France Chairman and CEO Bernard Arnault is now the second richest man in the world. His business empire, which consists of more than 70 businesses, including Sephora and Louis Vuitton, has helped him amass a net worth of $147.8 billion. Bernard Arnault, a French businessman, gained a $100 billion fortune in December of the previous year, the wealthiest man in Europe.
Engineer by profession, Arnault first displayed his ability for business while working at Ferret-Savinel, the construction company he brought over from his father in 1971. He renamed the real estate company Ferret-Savinel to Férinel Inc. in 1979.
3. Jeff Bezos ($130.4 Bn)
The creator and CEO of Amazon, Jeff Bezos, is currently ranked third most prosperous on the planet with a net worth of $130.4 billion. He built the massive online retailer Amazon in his Seattle garage in 1994. He serves as the company’s CEO and owns 11.1% of it.
He would have been wealthy if he hadn’t filed for divorce from his wife MacKenzie in 2019 after 25 years of marriage. A quarter of his Amazon stake has to go to his wife.
4. Gautam Adani ($124.4 Bn)
In March 2022, Adani Group founder Gautam Adani surpassed Mukesh Ambani to become Asia’s richest person. Adani owns 75% of Adani Enterprises, Adani Power, and Adani Transmissions through his ownership of Adani Group. He also has 65% of Adani Ports & Special Economic Zone, 61% of Adani Green Energy, and 37% of Adani Total Gas.
Adani is the largest port operator, tightly held thermal coal producer, and coal dealer in India right now. In 2020, he acquired a 74% stake in Mumbai’s Chhatrapati Shivaji International Airport, the second busiest airport in India.
5. Bill Gates ($99.8 Bn)
The Bill & Melinda Gates Foundation was established by Bill Gates, worth $99.8 billion. Bill Gates and Paul Allen co-founded the software giant Microsoft, and over time, Gates sold off most of his shares in the company, holding only 1% and investing the rest in equities and other investments. When Microsoft’s stock jumped after earnings in April, Bill Gates became the first person to reach the $100 billion mark. The most extensive personal charitable foundation in the world is the Bill and Melinda Gates Foundation.
6. Warren Buffet ($95.5 Bn)
The most well-known living value investor, Warren Buffett, filed his first tax return in 1944 when he was just 14 years old, citing earnings from his paper route.
He bought his first shares in Berkshire Hathaway, a textile company, in 1962, and by 1965 he had overtaken all other shareholders. He expanded the business’s offerings in 1967 to encompass insurance and other activities. As of August 5, 2022, a single share of stock (Class A shares) in Berkshire Hathaway was selling for more than $439,000, giving the company a market valuation of $705 billion.
7. Larry Ellison ($87.4 Bn)
Larry Ellison co founded the software corporation Oracle in 1977 and, as a result, has an estimated net worth of $87.4 billion. In 2014, he left his position as the company’s CEO, currently its chairman of the board and chief technical adviser. Ellison joined Tesla’s board in December 2018 and has been a member since. Earlier in the year, he had bought 3 million shares. He almost owns the whole Hawaiian island of Lanai.
8. Mukesh Ambani ($84.0 Bn)
The CEO of Reliance Industries Limited, India’s most valuable corporation, is the second-richest person in Asia (RIL). The Fortune India 500 ranked Reliance Industries Limited (RIL) first, and the Fortune Global 500 ranked RIL 106th.
The petrochemicals, oil and gas, and telecoms sectors provide Mukesh Ambani, 65, with most of his wealth. He is presently the ninth richest person in the world.
9. Larry Page ($83.9 Bn)
Like many other software millionaires on our list, Larry Page started his path to fame and wealth in a college dorm room. Better internet data extraction was an idea that Page and his friend Sergey Brin developed in 1995 while they were both researchers at Stanford University. Backrub, a brand-new search engine technology they developed, gets its name from its ability to investigate backup links. In 1998, Page and Brin co-founded Google. Page served as CEO from 1998 to 2001 and from 2011 to 2019.
10. Sergey Brin ($80.5 Bn)
With an estimated net worth of $80.5 billion, Alphabet co-founder and board member Sergey Brin ranks sixth among the world’s wealthiest individuals. He and Larry Page co-founded Google in 1998. Google went public in 2004 and switched its name to Alphabet in 2015.
Wrapping Up
So, this was the list of the world’s top 10 wealthiest businessmen and tycoons for October 2022. If you want to get more such information, then stay tuned with us!
