Top 4 Billionaires In The World With Over $50 Billion Wealth Loss

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List of American Billionaires 2023 - Photo Daily Mail

How many billionaires are in the US in 2023?

America still leads the world in terms of number of billionaires, with 735 billionaires worth a collective $4.7 trillion.

How much does richest people in the US own?

2022’s Forbes 400 (Top 400 richest people in the US) is $500 billion poorer than they were a year ago. Their total net worth stands at $4 trillion, down 11% from last year.

No one has been hit harder than American tech tycoons, who have lost a combined $315 billion, as their stock prices have plummeted and the spigot of venture capital money has slowed. A total of 41 people fell from the ranks this year, including Yahoo’s Jerry Yang, Rivian’s RJ Scaringe and, thanks to the crypto winter, the Winklevoss twins. Meanwhile, Mark Zuckerberg, last year’s No. 3, fell out of the top 10 for the first time since 2014. He’s $76.8 billion poorer than a year ago, the biggest loss of anyone on the 2022 list.

READ MORE: Top 10 Richest Countries in the World 2023 by Net Worth

Who are richest people in the US?

Photo Forbes
Photo Forbes

For the first time in 41 editions, Tesla tycoon Elon Musk leads the list of the richest people in the US - and indeed the world - having increased his fortune by $60 billion dollars in the last twelve months. According to Forbes, Musk currently has a net worth of $251 billion.

Following Musk is Jeff Bezos, creator of Amazon, who led the list last year. Bezos’ net worth is thought to be around $151 billion dollars, placing him second nationally and third globally.

The third richest person in the US is Microsoft creator, Bill Gates, with a net worth of $106 billion dollars. Back in July Gates announced that he was pledging another $20 billion to charity through the Bill & Melinda Gates Foundation, taking his total lifetime donations past the $50 billion mark. He has previously stated his intention to give away the vast majority of his fortune during his lifetime.

Top 10 richest people in the US

1. Elon Musk - $251 billion (Tesla / SpaceX)

2. Jeff Bezos - $151 billion (Amazon)

3. Bill Gates - $106 billion dollars (Microsoft)

4. Larry Ellison - $101 billion (Oracle)

5. Warren Buffett - $97 billion (Berkshire Hathaway)

6. Larry Page - $93 billion (Google)

7. Sergey Brin - $89 billion (Google)

8. Steve Ballmer - $83 billion (Microsoft)

9. Michael Bloomberg - $76.8 billion (Bloomberg LP)

10. Jim Walton - $57.9 billion (Walmart)

Mark Zuckerberg Leaves the Richest List

One notable name absent from the 2022 top ten is Facebook founder Mark Zuckerberg, who ranked third in the 2021 count, but has dropped out of this year’s list. Zuckerbuck lost more than half of his fortune in the last year.

Zuckerberg currently has a net worth of $57.7 billion, a huge decline from his $134.5 billion fortune the previous year. In recent months the value of Facebook has fallen sharply, due in large part to competition from newer social networking sites like TikTok.

Rihanna becomes America's youngest female self-made billionaire

At the age of 34, Rihanna has become the youngest self-made billionaire in America, with a staggering net worth of USD 1.4 billion. Forbes published this on the list of America's Richest Self-Made Women in 2022. In 2019, Kylie Jenner, the makeup mogul, held this title, whose current net worth stands at USD 600 million.

Rihanna thrives on several business ventures. She is a Fenty Beauty co-owner and holds a 30% stake in her brand, Savage x Fenty lingerie. She has also dabbled in Fenty Beauty. Her song "Umbrella" has rocked the music world. According to Forbes, she is also the first to become a billionaire from Barbados, her homeland. Not just that, she is also the only woman under 40 to be on Forbes' list of female billionaires in the U.S. in 2022.

Taylor Swift, Beyonce, and Whitney Wolfe Herd were also on the list with a respective net worth of USD 570 million, USD 450 million, and USD 740 million. And Kylie was mentioned in the list for the 5th time consecutively.

Who are the youngest billionaires in the US?

Photo Forbes
Photo Forbes

9. Scott Duncan

Age: 39

Net worth: $6.9 billion

Source of wealth: Pipelines

8. Brian Armstrong

Age: 39

Net worth: $2.7 billion

Source of wealth: Cryptocurrency

7. Nathan Blecharczyk

Age: 39

Net worth: $7.7 billion

Source of wealth: Airbnb

6. Mark Zuckerberg

Age: 38

Net worth: $57.7 billion

Source of wealth: Facebook

5. Dustin Moskovitz

Age: 38

Net worth: $8.1 billion

Source of wealth: Facebook

4. Lukas Walton

Age: 36

Net worth: $20.5 billion

Source of wealth: Walmart

3. Bobby Murphy

Age: 34

Net worth: $2.7 billion

Source of wealth: Snapchat

2. Evan Spiegel

Age: 32

Net worth: $2.8 billion

Source of wealth: Snapchat

1. Sam Bankman-Fried

Age: 30

Net worth: $17.2 billion

Source of wealth: Cryptocurrency exchange

♦ Check: Top 9 Billionaires Have The Most Kids In The US

Which billionaire gives away the most?

The wealthiest people in the U.S. may have big fortunes, but they don’t all write big checks. Forbes once again investigated the charitable giving of every member of the list of 400 richest people in the US and ranked each person’s generosity on a scale of 1 (those who have given less than 1% of their wealth away so far) to 5 (those who have given at least 20%). More than half have given away less than 5% of their fortune; only nine list members scored a 5.

Which State has the largest population of billionaires in the United States?

Texas is the U.S. state with most billionaires, with 337 billionaires calling the state home. California is the second, with 186 resident billionaires. The third place is New York with 135.

What did US billionaires spend on?

American billionaires spent a record $880 million on the U.S. midterm elections so far, with most of their spending favoring Republicans, according to a new report.

Billionaire spending is up 44% over the 2018 midterms, and is expected to approach $1 billion by next week, according to Americans for Tax Fairness, which analyzed campaign-contribution data from the Federal Election Commission compiled by nonpartisan campaign finance watch dog Open Secrets. While U.S. billionaires poured $1.2 billion into the 2020 presidential elections, their outsized spend in the mid-terms shows just how much is at stake for wealthy donors of both parties heading into Tuesday’s contests.

Their spending also highlights growing concern over the outsized influence of super-wealthy political donors who can now contribute unlimited sums of money to so-called super PACs, which don’t limit individual donors.

“If we are going to have a democracy that works for everyone, we need to greatly curb the influence of billionaire money in our politics,” said Frank Clemente, executive director at Americans for Tax Fairness.

Billionaires are funding ideologies and parties on both sides. Their spending was about three to two in favor of Republicans, conservative groups or candidates, according to the report. Their funds accounted for 7.4% of all the money received from any source by federal candidates, parties and political action committees (PACs) this election cycle. They accounted for 10% of total money raised by PAC’s so far.

Who lost the most money in 2022?

Facebook’s Mark Zuckerberg lost US$87.3 billion

The biggest net loss of the year can be attributed to Facebook founder and Meta CEO, Zuckerberg. Since September 2021, the 38-year-old has lost more than half his fortune, causing him to drop out of the list of the top 10 richest people in the US, a list he has been on since 2015, reported Forbes.

The steep fall from grace has been caused by Meta’s declining shares: according to Forbes, Meta shares plunged by 57 per cent since last year’s Forbes 400 from the same time period. The dip has primarily been caused by losses in advertising revenue due to privacy policy changes by Apple, as well as competition from fellow social media app TikTok. Its operating profits were also affected by the company’s heavy investment in the metaverse.

Binance’s Changpeng Zhao lost US$72.6 billion

Binance founder and CEO Zhao, who at one point was worth US$96 billion, has accumulated losses of US$72.6 billion in the cryptocurrency crash that caused digital currencies to lose US$2 trillion in value, according to PBS.

Binance released a report in September announcing that “the crypto market is crashing hard”. The crash was attributed to macroeconomic factors, as the US dollar showed increased strength versus bitcoin, the most famous cryptocurrency.

Tesla’s Elon Musk lost US$66.4 billion

Musk, CEO of Tesla, has been making news recently for his tumultuous Twitter buyout. He changed his mind repeatedly about pushing through with the deal, before finally purchasing the social media platform for a hefty US$44 billion.

The acquisition caused Musk to have a US$9 billion drop in net worth, according to Time magazine. He now faces several financial challenges in turning the business around, as Twitter has failed to turn an annual profit in three of the last five years. According to Forbes, Musk also faced financial losses earlier in the year too, when shares of Tesla fell by 8 per cent in May.

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