Who Is the Richest Person in the World?


RICHEST PERSON

One of the most asked questions on the internet remains, “Who is the richest in the world?” Of course, many individuals are eager to know who sits on the most significant wealth in the world. They want to know their name, country, source of wealth, and probably a little thing about their personal life. But, like other things in the world, the name of the wealthiest person changes often. Today it could be individual A from Mexico; tomorrow, it could be individual B from the United States.

The wealthiest person in the world is Bernard Arnault. Bernard Arnault is the chairperson and CEO of the French luxury conglomerate LVMH Moet Hennessy Louis Vuitton. He surpassed Amazon owner Jeff Bezos after his net worth fell $13.9B in a day.

If you want to make wealth, it makes sense to take a leaf out the book of those who have. I am not talking of those who derived wealth illegally, but those who grew their wealth from scratch leveraging legal means. Today, there are about 2,755 billionaires in the world. Among these individuals, there is a “number 1″ on the list. If you aren’t aware of who that is, what he does for a living, how he generated his wealth, you should read this article to the end. As a bonus, I’ll also be providing you with a brief list of other close competitors.

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Who Is the Richest Person in the World?

You wake up early each day, put on a shirt, pants, grab your suitcase, and head to work to make money and not because you enjoy the cheerful atmosphere at your workplace. These days, everyone wants to make money to afford a trip to the Bahamas, cater to their loved ones, buy houses in the best areas in the U.S., and leave wealth for their offspring.

Everyone Wants to Know Who Has the Deepest Pocket:

Because the thought of having lots of money sends people into a frenzy, you tend to discover that most of the searches on the internet are money or wealth-related. How do I make money fast? How do I become rich fast? Who is the current richest woman in the world? Who is the wealthiest person in the world?

Among the “searched questions” highlighted above, you can attest that queries regarding the wealthiest person in the world are often quite common. Well, you can’t blame the average American for digging, wanting to know who controls the most wealth in the world. Who knows? Maybe if he follows the individual’s path and does what he does to the letter, he could have his name on the most coveted Forbes rich list.

Before I provide you with some insight regarding the wealthiest person in the world, let’s take a quick look at how rich folks make their wealth.

Quick Facts About Billionaires:

Here is a quick fact about billionaires.

  • There exist two types of billionaires: self-made billionaires (those who built wealth from scratch) and those born into wealth.
  • Over two-thirds of people with a net worth of $30 million or more are deemed “self-made.”
  • Regardless of how billionaires make their money, they all have some core traits, including prioritizing saving and diversifying investments.

How Do Rich People Make Their Wealth?

According to Forbes’s World’s Billionaires list, there are a record-breaking 2,755 billionaires worldwide. But, how did they get rich? By doing everything from starting hedge funds and tech companies to breeding domestic animals like pigs and kombucha.

However, certain industries offer a more common route to wealth than others. For example, the most likely way to make a billion-dollar fortune is by embracing the world of finance and investments. That sector is a goldmine. It has minted the most billionaires worldwide, with 371 individuals, or about 13% of the whole list. Also, it was deemed the top industry for billionaires in 2020, the last time they were tabulated (per industry).

The number of finance and investment billionaires has increased by a whopping 50% in the past year. It has almost doubled from two years ago, with common names like Berkshire Hathaway’s Warren Buffet, Carl Icahn, and hedge fund mogul Ray Dalio. Of course, there is still space for a novice like the Winklevoss twins, who join the list this year due to a big bet on cryptocurrency, including Jeff Yass, founder of trading firm Susquehanna International.

Having understood how the rich make their wealth, let’s revert to the crux of this article:

Before now, the richest person was Amazon founder Jeff Bezos. A few months back, it was the tech guru, Elon Musk. However, today, the richest one is no other person than Bernard Arnault.

Who is Bernard Arnault?

Bernard Arnault is a 72-year old French billionaire who heads the world’s leading fashion brand Louis Vuitton Moet Hennessy (LVMH). According to Forbes Real-Time Billionaire list, he holds a net worth of $198.9b compared to Amazon’s Jeff Bezos’s $194.4b and Tesla owner Elon Musk’s $185.5b.

Before today, Bernard Arnault led the list of the world’s wealthiest people in December 2019, January 2020, May 2021, and July 2021.

Who Are Bernard’s Competitors?

Based on Forbes Real-Time Billionaires List, Bernard’s close competitors are Amazon Jeff Bezos, Elon Musk, Microsoft founder Bill Gates, Facebook founder Mark Zuckerberg, Google co-founder Larry Page, and Oracle co-founder Larry Ellison and Sergey Brin.

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Do Billionaires Keep Their Money in Banks?

Billionaires can be likened to demigods or some aliens. Why? Because you often find people trying to find out information about them. Individuals want to know who their spouse, children, how they made their wealth, what they spend on, how they invest, what they invest on, if they use credit cards, and also if they keep their money in banks.

Billionaires do not keep all their money in banks. While they may have a savings account, they often prefer to diversify their wealth. So they invest in stocks, bonds, busi9nesses, real estate, etc.

It is often hard to imagine a billionaire with $1B in his bank account. It’s impossible because inflation risk hurts the rich the most.

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