Since the outbreak of the Corona virus in December last year the pandemic has tightened its grip on the most powerful economies, global equity markets have imploded hence tanking many billionaires.
According to Forbes 51% of billionaires are poorer than they were last year and there are now 2,095 billionaires, 58 fewer than a year ago and 226 fewer than last week.
The world’s billionaires are now worth $8 trillion, down $700 billion from 2019 with the US leading with the highest number with 614, followed by greater China (including Hong Kong and Macao), with 456.
There are 178 newcomers who got a seat with the big boys one of them being Zoom Video Communications’ founder and CEO Eric Yuan and pig farmer Qin Yinglin who is also the biggest climber now worth $18.5 billion–a $14.2 billion jump since the 2019 list, after shares of his Shenzhen-listed Muyuan Foods nearly tripled as the African swine flu reduced the supply of pigs and drove up prices.
Jeff Bezos is currently the world’s richest man.He is worth $113billion even after giving his wife $36billion in Amazon stock last year as part of a divorce settlement.Before the divorce Bezos had a net worth of 131billion.
With the increase of orders due to the pandemic Amazon has hired more than 100,000 full- and part-time workers to help meet increased demand from consumers staying at home.
Bill Gates took second place thanks to his tech company Microsoft and real estate he owns all over the world.
Warren Buffet unfortunately lost third place for the first time to luxury goods tycoon Bernard Arnault and went to fourth place.
Fifth place went to Oracle founder Larry Paige while the richest woman on the list Alice Walton who is an heir to the Walmart fortune took nineth place at $54.4 billion. Altogether 241 women made the list, including 7 who share a fortune with a spouse, sibling or child.
Singer Beyonce and husband Jay z took No.20 each thanks to their on The Run II stadium tour which grossed roughly $5 million per night, pulling in a total of more than $250 million.
Taylor swift snagged the number one spot grossing 185M followed by lipkit mogul Kylie Jenner who grossed 170M and her brother in law Kanye West took third place at 160M.
Drake took 25th place banking 75M with Kim Kardashian West following closely behind at No.26 with 72M and Diddy at No 28 with 70M.
In the world of sports Lionel Messi is currently the richest sportsperson taking 4th place with 127M and Christiano Ronaldo 6th place with 109M.
Altogether, 267 people who made last year’s list have dropped off as businesses flopped.1,062 people have seen a drop in their fortunes, both reflective of the China-America trade war and the coronavirus pandemic.