Top 100 Richest People In America – This scale of wealth is equivalent to spending roughly 1.3% of the global economy, the entire market cap of Amazon, or $1 million a day for 3,000 years. In fact, it is almost double the amount ($663 billion) seen two years ago.
As billionaire wealth continues to accumulate at a remarkable rate, we present a snapshot of the world’s richest people in 2022, based on data from Forbes’ real-time billionaire list.
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Despite supply chain constraints, Tesla’s deliveries are up 27% from the second quarter of 2021. Musk, who is also the CEO and chief engineer of SpaceX, plans to launch the largest rocket ever built into orbit in 2022. It is 119 meters high.
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Jeff Bezos is in fourth place with $ 150 billion. Amazon shares have declined more than 20% since last March amid pressure from inflationary prices and falling retail sales.
Notably, Meta (formerly Facebook) CEO Mark Zuckerberg dropped out of the top 10 for the first time since 2016. Meta shares declined after global daily active users posted their first decline since 2004.
Gautam Adani has seen the biggest increase in his fortunes than anyone else in this top 10 list. Adani heads one of the three largest industrial conglomerates in India. Adani plans to invest $70 billion in renewable energy in the coming years.
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Like Adani, Musk has seen the fastest rise in his wealth, even as Tesla shares are down more than 30% since their peak in November.
Even in the midst of crypto winter, at least ten people around the world have seen their fortunes grow into billions thanks to the stratospheric growth of cryptocurrencies.
Sam Bankman-Fried, founder of crypto derivatives exchange FTX, topped the list with a net worth of $18 billion. Bankman-Fried launched the exchange in 2019 when he was 27.
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Also on the list are Cameron and Tyler Winklevoss, co-founders of the Gemini cryptocurrency exchange, who are worth over $2 billion. Like his rival Mark Zuckerberg, he also aims to create a metaverse.
Will the wealth of billionaires continue to grow at a record pace? As the invasion of Ukraine continues, it is likely to have wider structural consequences.
Some argue that the war is a great leveling factor, a force that has reduced wealth inequality as seen after World War II. Others suggest that it exacerbates the wealth gap, especially when the war is financed by national debt. Often wars cause increased costs, putting pressure on low- and middle-income families.
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Whether the war will have lasting effects on the distribution of wealth is an open question, but if the pandemic is any precedent, the consequences will be far from predictable.
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Money Rank. Top 50 Endowment Funds in the World Endowment funds represent the investment sector of non-profit organizations. Check out the top 50 in the world who collectively have over $1 trillion in wealth.
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What do Harvard, the commissioner of the Church of England, the Metropolitan Museum of Art in New York, and the organization named after King Abdullah of Saudi Arabia have in common? They all have donation options.
An endowment fund is the investment arm of non-profit institutions such as universities, charities and churches. The purpose of the fund is to invest the assets of the organization for future activities and other important projects.
The world’s largest endowment funds hold billions in investment assets, making them important players in the financial industry. Here, using data from the Sovereign Wealth Fund Institute, we take a closer look at the world’s largest endowment funds by net worth.
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Additionally, each endowment fund has different structures with respect to withdrawals, use of funds, and their overall investment philosophy.
To put things in perspective, the 50 largest endowment funds represent over a trillion dollars in assets. Or for a more unique example, look at the Harvard Foundation, which has more money than the entire GDP of countries like Serbia, Bolivia or Slovenia.
The largest endowment fund, Ensign Peak Advisors, is based in Salt Lake City, Utah and manages the assets of the Mormon Church (officially known as The Church of Jesus Christ of Latter-day Saints). The church has over 16 million members worldwide and is the fourth largest church in the Americas.
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The Japan Science and Technology Agency (JST) is a national research and development agency that plays an important role in promoting technology, innovation and science within society. In 1995, the Japanese government adopted the Science and Technology Master Plan, and JST was launched and now has assets of over $80 billion, as well as offices in Paris, Washington, Singapore and Beijing.
Only two funds come from the Middle East. King Abdullah University of Science and Technology (KAUST) with $23.5 billion and the main authority of Awqaf. KAUST is ranked 95th among universities in the world and has created history in the country by becoming the first mixed-gender university in Saudi Arabia.
The General Authority of Awqaf has $11 billion in assets and was established as a government agency to manage endowments and enhance Saudi Arabia’s various goals for social development. “Awqaf” in Arabic is translated as property donated or purchased for general or specific charitable purposes that is socially beneficial.
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In terms of the environment, there is The Nature Conservancy, which has assets of $7.8 billion. The charity is estimated to have protected more than 100 million acres of land.
Universities are one of the world’s leading categories of endowment funds, particularly from the United States. In fact, 39 of the top 50 endowment foundations are universities, 35 of which are located in the US.
Harvard has historically been the largest, but it has been overtaken by Stanford in recent years. Stanford has $75 billion in assets, compared to Harvard’s $73 billion. These huge sums have not gone unnoticed and the elite universities are facing increasing criticism in some circles.
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“When Harvard has a total freshman class of 1,400 people and has an endowment the size of the GDP of El Salvador, they are not a nonprofit, they are a hedge fund educating the children of their investors. ” Professor Scott Galloway
With student debt rising to $1.6 trillion, it is likely that these universities may face more criticism regarding how they use the money available in the endowment fund.
In the financial world, top financing funds have significant influence. Although they all have billions of dollars to invest, each has very different goals and intentions for how to allocate their capital.
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And despite being nonprofit, endowment funds see their net assets surpass many other investment funds, such as sovereign wealth funds, hedge funds, and private equity firms.
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Although the country has more billionaires than any other country, America’s share of global billionaires has actually decreased in recent decades. About 40% of the world’s billionaire population lived in the US in 2010, and today the number is closer to 27%.
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But who is the richest billionaire in each US state in 2022? This image uses data from Forbes to find out.
The billionaires on this list made their fortunes in a variety of industries, including technology, automobiles, asset management, and video games.
The share prices of Amazon and Tesla, as well as the relative wealth of Jeff Bezos and Elon Musk, have fluctuated in recent years. The volatility in share prices has meant that each of them has held the title of world’s richest man at different points.
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Jeff Bezos previously held the top spot, but now has a net worth of $162 billion. Although he has stepped down as CEO and sold a large amount of Amazon stock, his stock will continue to be closely tied to the company’s performance in the near future.
Elon Musk is the richest billionaire in Texas, but he only recently became a resident of the state. Their move is part of a broader migration trend happening in the US today, with California seeing a population decline for the first time. Last year, 68% of California’s counties saw a population decline, and data from the US Census Bureau shows that many of these Americans chose states like Florida and Texas.
Between 2019 and 2021, the South was the only region to see a positive net inflow of more than one million people, while the Northeast, Midwest and West saw declines.
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