Every year Forbes 400 lists the richest man in the world. Out of the people listed, except a few who were apparently born with a silver spoon and managed to get richer using their background as well as business acumen to good effect, there is a more than half the number of them who were able to make money by starting from the scratch and working for it. This indeed sparks an interest in us to consider how they would have made the money and if it is still possible to make money that way.
A study conducted by Oxfam suggests that the top 1% of the rich and famous see to own more wealth than the rest of the world’s population since the last 4-5 years. it also suggests that we would be able to see the world’s first trillionaire in or within a period of 25years. Among the 1500 billionaires in the world, about 560 are from the U.S. Jeff Bezos is the richest man in the world in the year 2018 with a net worth of about 13,950 crores. He was able to do this because he seemed to have worked out a portfolio that has turned out to be the best way to invest money.
Top 5 richest people in the world
1. Jeff Bezos – $151.4 Billion
He is the CEO and founder of Amazon.com. He owns about 17% of the company and he has purchased Washington Post. He is also the owner of an aerospace company called Blue Origin. He is believed to have purchased Washington Post for $250 million in cash. The other business investments include his venture capital fund called the Bezos Expeditions.
Jeff Bezos became the richest man in the world overtaking Bill gates who had held this position since 2013 this year. The lead he gained over Bill gates is attributed to the fact that the Amazon stocks of which Jeff Bezos owns 17% increased in value by 1.3% opening up at $1,065.92 which became the determining factor. It pushed the net worth of Jeff Bezos to 90.9 billion when compared to that of Gates which was $90.7 billion. The present net worth is $151.4 billion. His progress is a classic example of how investing in stocks could lead you to a fortune.
2. Bill Gates – $97 Billion
Bill Gates along with Paul Allen started Microsoft. Their vision was that every home should have a computer on the desktop. Though the dream seemed to be a farfetched one at that time, it has now become a reality. Bill Gates developed the largest At present, he is a member of the board and technology advisor at Microsoft. Software in the world which is a household name at present. technology advisor at Microsoft. The net worth of Bill Gates is $97 billion. Bil gates are involved in Philanthropic activities through the Bill & Melinda Gates Foundation.
3. Warren Buffet – $81 Billion
Warren Buffet is the chairman as well as CEO of Berkshire Hathaway. He is a business magnate from the United States. He is noted for having made his fortune by investing in stocks. He actually knew the right ways to invest money to earn a fortune. He contributes heavily to the Bill & Melinda Gates Foundation as an act of philanthropy. He is supposed to have started buying stocks when he was 11 years old and he started paying taxes when he was just 13 years old. Many top mutual funds controllers consider him as an authority in predicting the stock market moves. Berkshire Hathaway actually owns about 60 companies including the battery maker Duracell, insurance company, Geico, and the Dairy Queen chain of restaurants. He launched the Giving pledge in 2010 requesting billionaires to commit half their wealth for charitable causes. His net worth is $81 billion.
4. Bernard Arnault (Spain) – $76 Billion
He is French business magnate who is the CEO of LVMH Moet Hennessey –Louis Vuitton which is known all over the World for its luxury products. He was born in an industrial family. He worked as an engineer in a construction company called Ferret-Savinel. He progressed to the top to become the chairman of the company in 1978. 1n 1989, he became the major shareholder of Louis Vuitton. He has been the chairman and CEO of the company since then. He is also an avid art collector and an intelligent investor. His net worth is around $76 billion.
5. Amancio Ortega (Spain) – $65.6 Billion
Amancio is the 5th richest man and is the wealthiest retailer in the world. He is the co-founder of Inditex which is known for its fashion chain, Zara. He is a 60%stakeholder of Inditex that has about 8 brands under its banner and about 7,500 stores all around the world. He is believed to earn a whopping sum of $400 million as dividends in a year which he seems to invest in real estate in Barcelona, London, Chicago, New York, Miami, and Madrid. His net worth is about $65.6 billion
The millionaires make money by investing in diverse portfolios which include investing in the companies that are owned by them, buying stocks, buying government bonds, buying bonds etc. through each of this carry an element of risk, it is diversified. They also hire the services of an advisor to protect the assets.