Top 10 Richest People in the World
Top 10 Richest People in the World
They say money makes the world go round. The richest people in the world are funnily some of the most open-handed. The net worth of the ten richest people is estimated (in USD) based on their assets and accounting for debt. The 2016 Forbes list of 100 Top Richest People in the World has a 1810 billionaires across the world. Their combined net worth is USD 6.48 trillion. There were 84 Indian billionaires on the list. Royalty and dictators whose wealth comes from their position are excluded from the Forbes list. Here are the top 10.
Bill Gates – The Richest Man Ever
Bill Gates is an American philanthropist, business magnate, investor, computer programmer and inventor. He has been at the very top of the Forbes’ Billionaires List 16 times in the last 21 years. His net worth is $75 billion down 4.2 billion from last year.
Early life: At Harvard, he devised an algorithm for ‘pancake sorting’ as a solution to a problem by his professor. Gates’ solution held the record as the fastest version for 30 years. His solution was later formalized in a published paper in collaboration with a Harvard computer scientist.
Microsoft: Bill Gates and childhood friend Paul Allen founded Microsoft. It has a wide range of products including Windows, MS Office and Skype. Currently, he serves as Technology Advisor to the CEO, Satya Nadella. Measured by revenues, Microsoft is the world’s largest software maker.
Trivia: Gates and his wife created the Bill and Melinda Gates Foundation. They were awarded The Padma Bhushan by the Government of India in 2015 for their contribution to Social Work. Gates wrote the book – Business @ the Speed of Thought.
“Software is a great combination between artistry and engineering.”
Amancio Ortega Gaona – That Zara Guy
Armancio Ortega is a Spanish fashion executive and the richest European. His net worth is $67 billion.
Early Life: When he was barely in his teens, Ortega found a job as a shop hand for a local shirt maker.
Inditex Fashion Group: Inditex is the biggest fashion group in the world and has over 6600 stores globally. The group designs and manufactures almost everything on its own. Ortega is the founding chairman of Inditex fashion group-best known for Zara retail shops.
Trivia: He’s very actively involved in the production and design process in the company. Ortega announced his imminent retirement from Inditex in 2011 making way for Inditex vice-president & CEO Pablo Isla to take over the reins.
“Zara will remain the largest and most international brand.”
Warren Buffett – The Sage of Omaha
Warren Buffett also is a business magnate, investor and philanthropist. His net worth is $60.8 billion.
Early Life: As a child, Buffett sold chewing gum, soft drinks and weekly magazines door-to-door. When he was 10, he made a point to visit the New York Stock Exchange while on a trip to the City. After being rejected by the Harvard Business School, Buffett joined the Columbia Business School after learning that Benjamin Graham taught there.
Berkshire Hathaway: Buffett is the Chairman, President and CEO of Berkshire Hathaway-an American holding company. The firm wholly owns Lubrizol among other companies and owns half of Heinz and several other companies.
Trivia: Buffett has pledged to give away 99% of his fortune to charitable causes mainly via the Gates Foundation. In fact, his pledge of nearly 10 million Berkshire Hathaway shares amounting to about $30 billion is the single largest charitable donation in history. In 2011, President Barack Obama awarded him the Presidential Medal of Freedom. Buffett is an avid bridge player, which he plays with fellow fan Gates.
“I always knew I was going to be rich. I don’t think I ever doubted it for a minute.”
Carlos Slim – The Warren Buffet of Mexico
Carlos Slim is a Mexican investor, business magnate and philanthropist. His net worth is $50 billion.
Early Life: At the age of 12, Slim bought shares in a Mexican bank. By 17, he earned 200 pesos a week by working in his father’s company. After graduating from college, he started working as a trader in Mexico.
Telmex and Grupo Carso: Telmex is a Mexican telecom company that offers telecom products and services, internet access, data, hosted services and IPTV. Carlos Slim is the chairperson of Telmex. Grupo Carso is a global conglomerate owned and operated by Carlos Slim. The firm got its name from Carlos and Soumaya, his late wife
Trivia: Slim has founded three non-profit organizations focused on Mexico City. His growing fortune has caused controversy because it has been amassed in a developing nation and because nearly 17% of the Mexican population is poor.
“The biggest things in life are not materials.”
Jeff Bezos – Founder of Amazon
Jeff Bezos is founder and CEO of Amazon.com. His net worth is $45.2 billion.
Early life: He attended Princeton University to study Physics, but soon returned to love of computers and graduated with two degrees in Electrical Engineering and Computer Science. After Princeton, Bezos worked on Wall Street in the computer science field. He has later worked for international trade, He worked on Internet enabled business opportunities at D. E. Shaw and Co.
Amazon: Bezos founded Amazon.com in 1994 after making a cross-country drive from New York to Seattle writing up the Amazon business plan on the way. He left his well paying job at New York City hedge fund after learning about rapid growth of Internet use. He set up Amazon in his garage.
Trivia: On August 15, 2015, New York Times wrote an article on Amazon, the company and depicted it as soulless workplace where no fun is had. Jeff responded to his employees with a memo claiming that this doesn’t represent the company he heads.
“I’m a big fan of all-you-can-eat plans, because they’re simpler for customers.”
Mark Zuckerberg
Mark Zuckerberg is Cofounder, Chairman and CEO of Facebook. His net worth is $44.6 billion.
Early Life: Zuckerberg began using computers and writing software in middle school. By the time he was at Harvard he was already recognized as programming prodigy. He had created a website that included photos of students living in dorm. The site went up over the weekend, but had to be pulled down because it overwhelmed Harvard network switches and many students complained that their photos we being posted without their permission.
Facebook:He launched Facebook in February 2004. Initially it was a Harvard college initiative, but later soon attracted attention of other colleges and universities. He turned down offers of many companies to buy Facebook. He said he was interested in creating something that would create information flow and not just organisation owned by business conglomerates.
Trivia:
Zuckerberg receives a salary of $1 as a CEO of Facebook.
“Mobile is a lot closer to TV that it is to desktop.”
Larry Ellison
Larry Ellison is an American programmer, internet entrepreneur, adventurer, businessman and philanthropist. His net worth is $43.6 billion.
Early life: In 1977, Ellison founded Software Development Laboratories (SDL) with two partners. In 1982, it officially became Oracle Systems Corporation named after its flagship product, the Oracle Database.
Oracle Corporation: The Oracle Corporation is an American multinational computer technology corporation. Oracle is the second largest software maker by revenue, after Microsoft. Larry Ellison co-founded Oracle Corporation in 1977 under the name SDL. In 1990, Oracle laid off 10% of its workforce because it was losing money. This crisis almost resulted in its bankruptcy. The company’s up-front marketing strategy was responsible for the crisis. Ellison was Oracle’s CEO throughout, until 2014.
Trivia: Ellison has donated up to 1% of his wealth to charity. In 1997, Ellison was made a director of Apple Computer after Steve Jobs returned to the company. But in 2002, Ellison resigned. Steve Jobs-former CEO and co-founder of Apple and Ellison’s late friend-was the official photographer of Ellison’s wedding.
“I believe people have to follow their dreams – I did.”
Michael Bloomberg
Michael Bloomberg is CEO of Bloomberg and his net worth is $ 40 billion.
Early Life: Michael Bloomberg joined John Hopkins University and graduated in 1964 with degree in Electrical Engineering. In 1966, he graduated from Harvard Business School with as Master of Business Administration.
Bloomberg: Bloomberg went on to set up a company named Innovative Market Systems. The basis was his realisation that financial community was willing to pay for high quality information delivered as soon as possible. He used technology to do this. The company was named Bloomberg L P in 1987. By 1990, it had 9000 terminals. Over the years he launched several products – Bloomberg News, Bloomberg message and so on.
Trivia: Bloomberg has been a Mayor of New York City and full time philanthropist.
“The cold harsh reality is that we have to balance the budget.”
Charles Koch
Charles Koch is an American businessman and philanthropist. His net worth is $39.6 billion.
Early life: Koch studied at MIT. In 1961, he joined his father’s business-Rock Island Oil and Refining Company. In 1967, he became its president and renamed it as Koch Industries.
Koch Industries: Koch Industries is an American multinational corporation involved in core industries. It has subsidiaries involved in manufacturing, trading and investment. Charles Koch is co-owner, chairman of the board and CEO while his brother-also a billionaire-is Executive VP. The brothers inherited the business from their father. The Koch Industries was accused of environmental and political misdeeds in 2012.
Trivia: Koch’s 2007 book-The Science of Success-describes his business philosophy of ‘market-based management’. He is a libertarian. He believes billionaires Warren Buffett and George Soros-who fund organizations with different ideologies-“simply haven’t been sufficiently exposed to the ideas of liberty.”
“People should only profit to the extent they make other people’s lives better.”
David Koch
David Koch is the younger brother of Charles Koch, co-owner and Executive VP of Koch Industries. His net worth is $39.6 billion.
Early life: He too, studied at the MIT, US. He joined the Koch Industries to work as a technical-services manager.
Trivia: David Koch considers himself a social liberal. He established the David H. Koch Charitable Foundation.
“I was gaga about dinosaurs as a kid.”
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