August 12, 2022

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Forbes: The total wealth of the world’s rich has fallen to 12.7 trillion dollars. Rich Lists

The total wealth of the world’s rich has fallen from a record low last year amid a decline in global stock markets since the Russian invasion of Ukrainealthough the planet’s richest people still own $12.7 trillion (£9.7 trillion) in assets.

by year Forbes magazine’s ranking of the world’s richest peopleThe number of billionaires worldwide fell by 329 to 2,668, with the total value of their combined assets dropping slightly from $13.1 trillion in the 2021 list.

She said Putin’s invasion of Ukraine – and the avalanche of sanctions that followed – sent the Russian stock exchange and the ruble plummeting, bringing the number of Russian billionaires on the list down by 34. All those coming from the country with billionaire status saw their fortunes stagnant or declining, with their total wealth dropping by more than $260 billion compared to the previous year.

Forbes said the drop in the total number of billionaires from 2,755 to 2,668 was the largest since the 2009 financial crisis, but came after an increase of more than 600 in 2021 when global stocks rebounded from pandemic lows.

Elon Musk, the independent head of Tesla and SpaceX, was named the world’s richest man for the first time with a fortune of $219 billion, up $68 billion from the previous year due to a soaring stock price for the automaker.

Musk Leap Leap on Amazon Jeff Bezoswhose fortune fell to $171 billion after a slight drop in the company’s share price and donations to charities.

Bezos’ estimated $1.5 billion in charitable gifts pales in comparison to his ex-wife Mackenzie Scott, who gave $12.5 billion to more than 1,250 organizations in less than two years. Scott from She raised a $38 billion settlement in her divorce from Bezos in 2019It has fallen from the 22nd richest person on the planet to the 30th with a fortune of $43.6 billion.

Among those who dropped out of the rankings are 169 “one-year wonders” – newcomers to the list in 2021 but already falling behind. They include exercise bike company John Foley, and dating app Bumble’s Whitney Wolfe Herd.

About 236 people joined the billionaire club for the first time, including the pop star Rihanna, Lord of the Rings director Peter Jackson, and venture capitalist Joshua Kushner. Barbados, Bulgaria, Estonia and Uruguay acquired the first billionaires.

Millionaires for Humanity, A coalition of the super-rich demands a global wealth tax on the super-rich To address inequality, the Forbes list said, “was a slap in the face for society.”

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Jafar Shalchi, Danish billionaire businessman and founder of the initiative said: “Forbes Rich List is a stark reminder of the grossly unequal world we live in. As most people around the world struggle to adapt and survive the pandemic, many of them have lost their jobs, sinking into the clutches of Poverty, those on the Forbes Rich List were able to sit back and watch their fortunes rise.”

“It is an insult to humanity, an insult to the claim that we are all in this together, and a slap in the face for those who think of us that we share this planet and its resources as equals.

The time to impose a wealth tax on people like me has been a long time. Inequality is bad for everyone. Even in the US, we’re eyeing the prospect of President Biden introducing the billionaire tax. This will be an important step in the right direction.”

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