Tesla Founder and CEO Elon Musk Is The Richest Man On The Planet, Mukesh Ambani Ranks 8th

Tesla founder and CEO Elon Musk, with a net worth of US$197 billion, is the world’s richest man, far ahead of Amazon founder and CEO Jeff Bezos the latter ranked second with a fortune of US$189 billion.

Bernard Arnault, head of the Louis Vuitton SE Group, ranked third ($114 billion), while Mukesh Ambani, chairman and managing director of Reliance Industries ranked eighth, is the only Indian to enter the top ten.

Elon Musk Is The Richest Man On The Planet

Musk, 49, has increased by US$151 billion in the past year, nearly US$1 billion every two days, most of which comes from his 21% stake in Tesla.

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According to the Hurun Global Rich List 2021, in which he holds a 52% stake in SpaceX, has increased its value by $13 billion in the past year.

Bezos, 57, was the world’s richest man last year, and despite adding $49 billion in revenue in the past year, he ranked second.

The 71-year-old Luxury King Arnault rank fell to third place with $114 billion. At the beginning of the coronavirus outbreak, Arnault lost $25 billion, but then rebounded back at the end of the year, an increase of 7% over last year.

Despite the chaos caused by a coronavirus, this year has been seen the largest increase in wealth in the past decade. To a certain extent, thanks to the promotion of quantitative easing, the boom in the stock market and the issuance of a large number of new shares have created eight new dollar billionaires per week for the past year.

Hurun Report Chairman and Chief Researcher Rupert Hoogewerf said that the world has never seen such a short year to create so much wealth, this number far exceeded expectations for a year of such devastating Covid-19.

The speed of wealth creation is breathtaking. In the context of the rise of electric vehicles, the three people have increased by more than 50 billion U.S. dollars in a year, of which Elon Musk-led by 151 billion U.S. dollars, and Amazon’s e-commerce billionaire Jeff Bezos and Pinduoduo’s Colin Huang each increased by $50 billion. At this rate, we expect there will be 50 or more companies in the next five years. More companies expect to break the $100 billion mark in the next five years.

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Microsoft co-founder Bill Gates ranked fourth ($128 billion), Facebook founder Mark Zuckerberg ($101 billion) ranked fifth, and Berkshire Hathaway CEO Warren Buffett (US$91 billion), ranked sixth, and Zhong Shanshan, chairman of Nongfu Spring, a Chinese bottled water company, (US$85 billion) ranked seventh.

With a net worth of US$83 billion, Ambani ranked eighth, followed by former Microsoft CEOs Steve Ballmer and Bertrand Puech and French luxury giant Hermes, both ranked ninth, each with $80 billion.

There are 3 new faces in this year’s top 10: Elon Musk, Zhong Shanshan, and Bertrand Puech. The top ten countries (six of which are from the United States, two from France, and two from China and India) have increased by US$169 billion in a year and are now worth US$1.1 trillion, accounting for 7.5% of the total.

For the first time in hundreds of years, Asia has more billionaires than the rest of the world combined. Wealth creation is shifting to Asia. Hoogewerf added that electric vehicles, e-commerce, blockchain, and biotechnology were the fastest-growing industries last year.

The rich list ranks 3,228 billionaires from 2,402 companies from 68 countries and regions.

Mukesh Ambani, chairman and managing director of Reliance Industries Ltd. (RIL), is the richest man in India and the eighth richest man in the world, with a net worth of 6.06 billion rupees ($83 billion) . However, the slogan of the richest man in Asia is Zhong Shanshan ($85 billion), chairman of the Chinese bottled water company Nongfu Spring.

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India now has 209 billionaires, of which 177 live in India, compared with 689 in the United States. Reliance, 63, has $83 billion in assets and is the richest man in India. Healthcare, consumer products, and chemical products led the way with 37, 26, and 19 billionaires respectively.

According to the Hurun 2021 Global Rich List, Kiran Mazumdar-Shaw, the chairman and managing director of Bangalore-based Biocon, has a net worth of 34.8 billion Indian rupees and is the richest man in India.

Compared with technology-driven wealth creation in the United States and China, wealth creation in India is dominated by cyclical and traditional industries.

When technology-driven wealth creation reaches its full potential, India may beat the United States in terms of the number of billionaires, Hurun India managing director and chief researcher Anas Rahman Junaid said.

Mumbai is the capital of 61 billionaires so far, followed by New Delhi with 40. The average age is 66. There are also 32 Indian billionaires living outside India, led by LN Mittal of ArcelorMittal in London.

Gautam Adani’s wealth almost doubled to US$32 billion, Shiv Nadar’s wealth increased from US$10 billion to US$27 billion, NR Narayana Murthy’s wealth increased by 35% to $3.1 billion, and Pankaj Munjal made it to the list for the first time with a value of $1.2 billion.

BR Shetty, hit by the scandal, lost his billionaire status for the first time. Due to the impact of Covid-19, Ritesh Aggarwal of Oyo Rooms also lost his billionaire status, and Kishore Biyani of Future Retail also dropped out of the list.

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