The World’s Richest Individuals And How They Made Their Millions

The World's Richest Individuals And How They Made Their Millions
TradeGM Analysis date_range April 26th, 2021

While in the past, the rich and wealthy were either nobles or descendants of wealthy households, things are rather different in 2021. Instead, this year’s Forbes 35th annual list of the world’s wealthiest people includes a few surprises as well as race to the top of the food chain. 

Despite the devastations brought by 2020, this year’s list has a whopping 660 more billionaires than the one from last year. It seems that a new billionaire is added to the list every 17 hours. But who are these individuals, and how did they make their billions? 

1. Jeff Bezos 

I didn’t think I’d regret trying and failing. And I suspected I would always be haunted by a decision to not try at all – Jeff Bezos 

After being overtaken by Elon Musk in net worth for a little, the founder of the famous online marketplace Amazon regained his position as the world’s wealthiest man. 

Bezos founded Amazon in 1994, right from his garage. The company started as an online bookstore and, for many years, was known as the ultimate marketplace for buying books, but Bezos always planned to expand the group. His parents invested the initial capital of $300,000 into Amazon, and just three years later, he took the company public with an initial public offering (IPO). 

Amazon’s initial success was enormous; in just two months, the company was making $20,000 a week. By 1998, Amazon was selling a variety of consumer goods. Bezos used the money he raised during the IPO to buy small competitors and continued to grow the business and diversify its services and products.  

“As a result of surging Amazon shares,” Bezos net worth jumped to $177 billion in 2021. Jeff Bezos also owns the newspaper ‘Washington Post’ and the rocket company ‘Blue Origin’. 

2. Elon Musk 

When something is important enough, you do it even if the odds are not in your favor – Elon Musk 

The South African/Canadian entrepreneur is now famous for sending a Tesla car to space, but many forget his beginnings. In 1999, Musk and his brother Kimbal joined forces with software engineer Max Levchin, diplomat Ken Howery, and several other entrepreneurs and merged their business X.com with the electronic payment company Confinity. Today, the merger is known as Paypal, which is the very company that earned Musk his first billion. 

Musk’s most profitable venture was Tesla Motors. The company was formed in 2003 with the mission to create affordable, mass-market electric cars. In 2020, Tesla sold over 1.4 million electric cars and reported annual revenue of $31.5 billion. 

In 2008 Musk proceeded to launched Space X (Space Exploration Technologies Corporation), a company that specializes in building spacecraft for commercial travel through space. Space X has numerous achievements, its most prominent one being that it’s the first privately owned company to send humans to the International Space Station (ISS). 

Aside from having numerous successful businesses under his sleeve, Musk is significantly popular in the investing community. The entrepreneur expressed his reverence for the cryptocurrency Bitcoin and, on occasion, has steered the cryptocurrency market with his cryptic tweets about various coins. In 2021, Tesla revealed that it had invested $1.5 billion into Bitcoin and now allows users to buy its cars using cryptocurrency. 

3. Bernard Arnault 

In the luxury business, you have to build on heritage – Bernard Arnault 

The third man on our list is Bernard Arnault, the French businessman who is the chairman and chief executive of LVMH Moët Hennessy – Louis Vuitton SE. His net worth is estimated to be $123.7 billion. 

Arnault’s debut in the fashion industry was working at Christian Dior; apparently, his mother was fascinated with Dior and encouraged her son’s career there. In 1989, Bernard Arnault became the majority shareholder at LVMH Moët Hennessy, the mother company of Louis Vuitton. The company is the world’s leading luxury products group.  

Arnault has led the company through numerous rises and falls. LVMH’s acquisition of American jeweller Tiffany & Co for $15.8 billion is considered to be the largest luxury brand acquisition ever. 

Who are the other billionaires on Forbes’ list? 

Amongst the top five richest men on Earth, you will find previous leading earners such as Bill Gates, Mark Zuckerberg and Warren Buffet. The richest woman on the list is Alice Walton, heir of Walmart’s founder Sam Walton. The list continues to display many international names such as India’s petrochemicals billionaire Mukesh Ambani, Google’s co-founder Sergey Brin and fast fashion brand Zara’s founder, Amancio Ortega. 

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.42% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. X