The world's five richest people have more than doubled their wealth since 2020, Oxfam, a British charitable foundation, has said. In a report, urging nations to resist the influence of the ultra-rich on tax policy, it said that at a rate of $14 million per hour, the world's wealthiest men have doubled their fortune, while about five billion people worldwide have grown poorer during the same time.
The report also added that despite some of the crisis revolving around the world's economy, the billionaires are today $3.3 billion richer than they were in 2020.
As per a report by Deutsche Welle (DW), Elon Musk, Bernard Arnault, Jeff Bezos, Larry Ellison and Mark Zuckerberg are the world's five richest men.
Let's take a closer look at who are these five richest men in the whole world:
Elon Musk
With a $ 251.3 billion net worth, Elon Musk is the richest man on this planet, as per Forbes India. He is the CEO of several prominent companies, including electric car manufacturer Tesla and space exploration company SpaceX.
Around two-thirds of Mr Musk's wealth is tied to Tesla. He grabbed all the headlines in October 2022, buying social media company Twitter, which he later renamed X. The 52-year-old co-founded Tesla in 2003. However, it was only during 2020 and 2021 that the company witnessed significant growth in market capitalisation.
This propelled Mr Musk to the position of the world's top 10 richest people in September 2021. He reached its peak in November 2021, when his wealth reached an astounding $320 billion.
Bernard Arnault
The world's second richest man presides over luxury goods empire Moët Hennessy Louis Vuitton (LVMH). It is best known for owning brands such as Louis Vuitton, Dior, Bulgari, Sephora and Givenchy. The 74-year-old French businessman has a net worth of $ 201 billion, as per Forbes.
Bernard Arnault has held the position of LVMH CEO since January 1989, two years after it was founded. The CEO of LVMH grabbed all the limelight in January 2021 when the conglomerate completed the acquisition of jeweller Tiffany & Co. for a staggering $15.8 billion.
Jeff Bezos
With a $ 174.2 billion net worth, Jeff Bezos is the third richest man in the whole world. In 1994, Jeff Bezos founded e-commerce giant Amazon out of his Seattle garage. While in July 2021 he stepped down as CEO of the e-commerce powerhouse, Jeff Bezos still maintains his position as the chairman.
Mr Bezos bought the American newspaper The Washington Post in 2013 for $250 million. Apart from this, Jeff Bezos also owns Blue Origin, a private space exploration company he established and generously funded with billions of dollars.
Larry Ellison
Larry Ellison co-founded the software giant Oracle in 1977. He held the position of CEO until 2014. He, now, assumes the roles of the company's Chairman and Chief Technology Officer. As per Forbes, 79-year-old Larry Ellison has a net worth of $135.3 billion and occupies the fourth position on the list.
The American businessman grabbed all the attention when he acquired the Hawaiian island of Lanai in 2012 for a sum of $300 million. In 2020, Larry Ellison moved permanently to his Hawaiian island.
Mark Zuckerberg
Mark Zuckerberg is the co-founder and CEO of Meta Platforms. At the age of 19 in 2004, Zuckerberg started the social media platform Facebook. The 39-year-old has a net worth of $125.3 billion.
