Who can become the world's first trillionaire?

A recently released Oxfam report shows that since 2020, the net worth of the five richest billionaires on the planet has skyrocketed 114% to a total of $869 billion, after adjusting for inflation.

The world could have its first trillionaire in the next decade if this trend continues, Oxfam predicts.

The five richest people in the world today are Tesla CEO Elon Musk, LVMH Chairman Bernard Arnault, Amazon founder Jeff Bezos, Oracle founder Larry Ellison and investment guru Warren Buffett.

Elon Musk

The richest billionaire in the world today is Elon Musk. From March 2020 to November 30, 2023, CEO Elon Musk's assets increased by 737%, to 245.5 billion USD. Elon Musk is the person who earned the most money in recent years.

Elon Musk's wealth is largely tied to the performance of the companies he owns, especially Tesla, which accounts for more than 80% of Elon Musk's net worth.

Tesla’s stock price has fluctuated significantly over the past few years, peaking at $1,200 per share in November 2021 and falling to $400 per share in January 2024. In the first two weeks of 2024, Tesla lost more than $94 billion in market value. So, Elon Musk’s net worth fluctuates significantly depending on market conditions and investor sentiment.

According to Oxfam's calculations, if Elon Musk spent $1 million a day, it would take him 673 years to spend all his assets. This is 6 times the average human lifespan. However, Elon Musk is not a billionaire famous for his lavish spending habits. Elon Musk prefers to invest in projects rather than personal shopping.

Bernard Arnault

From March 2020 to November 30, 2023, French billionaire Bernard Arnault - chairman of luxury goods empire LVMH - is the second richest person in the world with assets increasing 111% to 191.3 billion USD.

Previously, in August 2023, the assets of the richest billionaire in France increased by more than 2 billion USD in just 1 night, approaching the world's richest billionaire Elon Musk. At that time, Bernard Arnault's total assets were estimated at more than 210 billion USD, only about 8 billion USD away from the world's richest billionaire Elon Musk.

French billionaire Bernard Arnault. (Photo: BI)

LVMH is an international corporation headquartered in Paris (France). The corporation has a retail network of more than 5,600 stores worldwide, owning 75 famous brands such as Louis Vuitton, Christian Dior, Zenith, TAG Heuer, Hublot, Chaumet, Dom Pérignon, Givenchy, Marc Jacobs, Moët & Chandon, Hennessy...

LVMH is the most valuable company in Europe, with a market capitalization of $390 billion.

Jeff Bezos

According to Forbes, Jeff Bezos is worth $174 billion, making him the third richest person in the world. Last year, Jeff Bezos was one of the billionaires who topped the list of 10 billionaires with the strongest increase in assets thanks to the recovery of the stock market. In 2023, Jeff Bezos' assets increased by $46.5 billion.

Billionaire Jeff Bezos stepped down as CEO of Amazon at the end of 2021 to focus on his space exploration company Blue Origin. However, his fortune comes mainly from owning Amazon stock.

Larry Ellison

Oracle founder Larry Ellison is worth $134.9 billion, making him the fourth richest person in the world. Larry Ellison and his partners started selling their first database software, called Oracle Database, in 1977. Five years later, they named the company Oracle after their first software product.

In June 2023, Larry Ellison entered the top 5 richest people in the world for the first time. According to a report filed with the US Securities and Exchange Commission (SEC) in 2022, Larry Ellison is the largest shareholder of Oracle, owning about 42.9% of the company's shares. In addition, Larry Ellison also holds a 1.5% stake in electric car company Tesla.

Warren Buffett

According to a report released by Oxfam on January 14, legendary investor Warren Buffett - CEO of investment company Berkshire Hathaway saw his assets increase by 48% to 119.2 billion USD in the period from March 2020 to November 30, 2023.

Since 2006, Warren Buffett has donated more than half of his Berkshire shares to charity, totaling about $52 billion. Of that, the Bill & Melinda Gates Foundation alone has received more than $39 billion.

In a report filed with the US Securities and Exchange Commission (SEC) on November 21, billionaire Warren Buffett said he donated 1.5 million Berkshire Class B shares to the Susan Thompson Buffett Foundation, a charity named after Buffett's late first wife, focusing on the medical field.

Also on November 21, Buffett released a rare letter to shareholders and once again affirmed that he would donate more than 99% of his assets to charity. His children will be the ones to execute his will.

Lagerstroemia (Source: Forbes)

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