Top 5 richest people in Africa at the start of 2025 Business Insider Africa

Much of the wealth generated by large companies comes off the backs of workers who aren’t always properly compensated for their roles, Oxfam argues. The current state of the business world “generated unprecedented profits for major companies, fantastic pay for an elite class of executives and tremendous wealth for shareholders,” Oxfam’s report says. Caitlin O’Kane is a New York City journalist who works on the CBS News social media team as a senior manager of content and production. She writes about a variety of topics and produces “The Uplift,” CBS News’ streaming show that focuses on good news.

• The businessman announced on X that he had moved into the rental property in 2021.
• A record total of 1,426 people made the 2013 list, representing $5.4 trillion of assets.34 Of those, 442 billionaires hailed from the United States.32 The Asian-Pacific region had 386 billionaires and Europe 366.
• In 2012, Ellison made headlines by purchasing the Hawaiian island of Lanai for $300 million.
• That’s because the fortune of the prior No. 10, Spain’s Amancio Ortega, fell by about $7 billion over the month on weaker Inditex shares.
• The bulk of Bill Gates’s wealth is in Cascade Investment LLC, a privately held investment vehicle that owns a variety of stocks.
• The deal officially closed in Oct. 2022, giving him a 79% stake in the company.

Leading billionaires worldwide 2024

• Musk, Arnault, Bezos, Ellison and Buffett were not among the signatories — although Buffett has famously criticized the wealthy’s lower tax rates and previously advocated for policy change in the same vein.
• As Facebook began to be used at other universities, Zuckerberg dropped out of Harvard to focus entirely on his growing business.
• Arnault merged several luxury goods brands under one roof, deciding that even premium brands could benefit from economies of scale.
• Buffett expanded the company’s holdings to insurance and other investments in 1967.
• He now serves as a board member of Google’s parent Alphabet and continues to be a controlling shareholder.

In 2012, Ellison made headlines by purchasing the Hawaiian island of Lanai for $300 million. Additionally, he has invested in companies like Salesforce.com, NetSuite, Quark Biotechnology Inc., and Astex Pharmaceuticals. Musk owns an estimated 74% of the social media company, which is now worth nearly 70% less than he paid, Forbes estimates. This and other factors like low Tesla who are the five richest people in the world earnings have lead to his net worth dipping below $200 billion several times over the last two years. Bernard Arnault and his family are at number one, with a net worth of $233 billion.

• Located in Hillsborough, CA, the 1916-era build offers seven bedrooms and 9.5 bathrooms across 16,000 square feet and sits on a 47.4-acre lot – one of the largest parcels of land on the San Francisco Peninsula, the listing noted.
• As the economy faltered, with businesses shuttering and unemployment soaring, the stock market boomed.
• Like Page, he currently serves as a board member of Google’s parent company Alphabet and is a controlling shareholder.
• Bezos launched his e-commerce company in Washington state in the mid-1990s and built an enormous compound there.

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• We list individuals rather than multigenerational families who share fortunes, though we include wealth belonging to a billionaire’s spouse and children if that person is the founder of the fortune.
• She writes about a variety of topics and produces “The Uplift,” CBS News’ streaming show that focuses on good news.
• Absolutely, given that a significant portion of their wealth is tied to publicly traded stocks, the net worth of the wealthiest individuals can fluctuate per market valuation.
• Ellison invested in Tesla and served on the board of the electric vehicle company from 2018 through August 2022.
• Larry Ellison, the second richest person in the world, co-founded Oracle in 1977 and served as its CEO until 2014.
• The 2024 list also broke records set in 2021, with 26 more billionaires on the list and their combined net worth up by $1.1 trillion.

To tally their wealth, Forbes used stock prices and exchange rates from March 8, 2024. China has 473 billionaires and India has 200, which set a record for that Accounting for Churches country. The founders of Google, Sergey Brin and Larry Page, became billionaires at age 30. Oracle is the world’s second-largest software company, providing a wide variety of cloud computing programs as well as Java and Linux code and the Oracle Exadata computing platform. Oracle has acquired numerous large companies over its history, such as Sun Microsystems and Cerner. In 1977, Ellison founded Software Development Laboratories alongside Oates and Miner.

Steve Ballmer Net worth: $124.3 billion Company: Microsoft, Clippers, Investments

In 2024, the collective wealth of India’s 100 billionaires climbed by more than $300 billion to $1.1 trillion, owing to last year’s stock market boom. Beyond their riches, these elites are also innovators in their own space — whether it be in finance, tech or even space. Often, these billionaires are founders of enterprise giants and multinational companies, with much of their wealth coming from the companies that they started. Set on 12 acres, the palatial space reportedly took him 10 years to complete and is said to be valued at $200 million.

The SpaceX founder’s property portfolio is a picture of restraint and thriftiness – unlike the other men in the top five, from LVMH boss Bernard Arnault to Facebook founder Mark Zuckerberg. Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth. Read more on Bernard Arnault’s net worth, and how China’s economy played a big role in the transformation of the luxury goods sector. Bezos owns The Washington Post, one of the largest newspapers in the United States.

Indian Creek Island, FL

He picked up the William Wurster-designed mansion in 1988, paying a cash flow reported $3.9 million that’s valued at over $9 million today. Built in 1958, the over 10,000-square-foot layout includes five bedroom and six baths. He is said to have spent an astonishing $100 million to renovate it for a planned Beechwood Art Museum. However, the listing never appeared to have led to a deal, and that property is now listed off market. In April 2021, Ellison paid $80 million for a premium waterfront estate with the intention of tearing it down.