Forbes launches annual billionaire ranking; check list for top 10

American business magazine Forbes has launched its 37^th annual billionaire rankings with the report counting 2,640 billionaires, which is 28 less than that of last year. The report also reveals that the net worth of nearly half of the billionaires is less compared to the previous year. The reason for this fall in net worth is because of falling shares, wounded unicorns and rising interest rates across the world.

According to this list, French businessman Bernard Jean Etienne Arnault,  founder and CEO of the world’s largest brand of luxury goods – ‘LVMH Moët Hennessy Louis Vuitton’ is the richest person on the planet with a net worth of above $200 billion. Arnault oversees the LVMH empire of 75 fashion and cosmetics brands, including Louis Vuitton and Sephora. Notably, he is also the only businessman to have a net worth above $200 billion. Following Arnault is Tesla CEO Elon Musk whose net worth fell after the acquisition of ‘X’ (formerly Twitter). However, Musk’s net worth still stands at a staggering $180 billion. Elon Musk had acquired the microblogging site Twitter after buying 74% of the company in October last year.

Mukesh Ambani, the founder and chairman of Reliance Industries is 9^th on the list and the only Indian on the list with a net worth of $83.4 billion. Reliance, which has interests in petrochemicals, oil and gas, telecom and retail, was founded by his late father Dhirubhai Ambani, a yarn trader, in 1966. Amongst the others in the list are; Amazon’s Jeff Bezos, Oracle’s Larry Ellison, Bill Gates, super investor Warren Buffet, Co-founder of media company Bloomberg LP, Michael Bloomberg, Carlos Slim Helu and family and finally, Steve Ballmer.

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