Visualizing the Richest People in the World
Over $567 billion has been added to the wealth of the world’s 10 richest individuals in less than a year. To contextualize this growth, it’s over seven times the amount accumulated by the same group in the previous comparable period. For instance, Elon Musk’s fortune skyrocketed by at least 500% within a year, while Jeff Bezos of Amazon gained an additional $68.6 billion. Using data from the Forbes Real-Time Billionaires List, this analysis examines how the wealth of the ultra-rich has evolved since the pandemic's onset.
The 10 Richest People in the World With a net worth of $182 billion, Jeff Bezos is the wealthiest in the world.
After 26 years at the helm, Jeff Bezos announced his decision to step down as Amazon CEO and transition to the role of executive chairman. This move allows him to dedicate more time to Blue Origin and other projects. Blue Origin, a private aerospace company, has stated its mission to make space accessible to everyone and plans to launch its first rocket, New Glenn, in the second half of 2022.
As of March 1, 2021, here are the 10 wealthiest individuals globally:
Top 10 Wealth Growth
With a stunning 1,172% growth rate year-over-year, Daniel Gilbert, CEO of the largest mortgage lending company in the U.S., has seen his wealth multiply the fastest.
Gilbert, who founded Quicken Loans at 22, took its parent company public in August.
Richest People in the World
Elon Musk, with his devoted following, has experienced remarkable wealth growth, even briefly overtaking Jeff Bezos as the world's richest person.
This achievement is striking, given that Bezos’ fortune expanded by over 70% during the same period. Likewise, other billionaires such as Mark Zuckerberg, Bill Gates, and Warren Buffett have also enjoyed significant double-digit increases in their net worth.
Who’s In and Who’s Out?
Whitney Wolfe Herd, CEO of Bumble, has recently joined the billionaire's club at the age of 31. She made history as the youngest American woman to take a company public, with Bumble's February 2021 IPO raising $2.2 billion. Bumble is now the second-largest dating company to go public, following Match Group, which operates 45 dating platforms, including Tinder.
In contrast, last year’s youngest billionaire, Kylie Jenner, dropped off the billionaire list after allegations of inflating her net worth. The Kardashians reportedly made significant efforts to prove her wealth to Forbes, including presenting tax returns and offering tours of their mansions. Despite this, Jenner's net worth remains substantial at around $700 million.
A New Gilded Age?
Given the staggering growth of the ultra-wealthy in recent years, today’s wealth concentration is now comparable to America’s Gilded Age.
At the time, John D. Rockefeller was the richest person in the world—worth roughly $285 billion in today’s terms. His businesses produced 1.6% of total U.S. economic output.
By comparison, Jeff Bezos, at $182 billion, still has a little ways to go just yet.