Money
The Richest People in the World in 2021
Visualizing the Richest People in the World
Over $890 billion has been amassed by the ten wealthiest people since March 2020.
To put that into perspective, that’s more than the entire economic output of Sweden, Turkey, or Saudi Arabia. As just one example, Elon Musk witnessed his wealth increase at least 1,116% in the last year and a half. Meanwhile, Amazon’s Jeff Bezos has earned an additional $89 billion.
With data from the Forbes Real-Time Billionaires List, we navigate how the wealth of various uber-affluent groups have changed since the beginning of the pandemic.
The 10 Richest People in the World
With a net worth of $304 billion, Elon Musk is the wealthiest in the world.
Boosting his wealth is a $100 billion valuation of SpaceX. Since February, its valuation has jumped roughly $25 billion, placing it among the most valuable private companies worldwide. The majority of Musk’s wealth, however, derives from Tesla, which recently moved its headquarters from California to Austin, Texas.
Based on data as of November 8, 2021 here are the ten wealthiest individuals worldwide:
| Rank | Name | Source | Net Worth Nov 2021 | Net Worth Mar 2020 | Change 2020-2021 |
|---|---|---|---|---|---|
| 1 | Elon Musk | Tesla, SpaceX | $301B | $25B | $276B |
| 2 | Jeff Bezos | Amazon | $202B | $113B | $89B |
| 3 | Bernard Arnault & family | LVMH | $197B | $76B | $121B |
| 4 | Bill Gates | Microsoft | $139B | $98B | $41B |
| 5 | Larry Ellison | Oracle | $130B | $59B | $71B |
| 6 | Larry Page | $127B | $51B | $76B | |
| 7 | Sergey Brin | $122B | $49B | $73B | |
| 8 | Mark Zuckerberg | Meta (Facebook) | $121B | $55B | $66B |
| 9 | Steve Ballmer | Microsoft | $106B | $69B | $37B |
| 10 | Warren Buffett | Berkshire Hathaway | $105B | $68B | $37B |
Top 10 Wealth Growth
Since the onset of the pandemic, Musk has seen his wealth grow the fastest out of the top 10. Over the third quarter of 2021, Tesla net income topped $1.6 billion—a company record. This surge helped the entrepreneur become the first person to cross the $300 billion net worth threshold.
Yet once again, Musk surpassed Jeff Bezos as the richest person in the world. This is impressive, since Jeff Bezos’s wealth ballooned over 79% in the same time frame. Similarly, Zuckerberg, Gates, and Buffett have all seen double or triple-digit growth.
Following Musk and Bezos is Bernard Arnault, known as “The Wolf in Cashmere”. The French magnate has made over $121 billion spurred by a 43% jump in LVMH revenues over 2021. Earlier this year, LVMH closed a $15.8 billion acquisition of jewelry retailer Tiffany & Co.
On average, the top 10 richest have seen gains of 204% over the course of the pandemic. Unsurprisingly, the majority were in tech.
Who’s In and Who’s Out?
As of early August, Rihanna joins the billionaire’s club with an estimated $1.7 billion net worth.
Thanks to the rapid ascent of Fenty Beauty (of which she owns a 50% stake), Rihanna is the second-wealthiest female entertainer in the world, following Oprah at $2.7 billion. The company is focused on inclusivity, offering a broad set of products for every skin type. Launched in 2017 with LVMH (who owns the other 50% stake), Fenty Beauty currently sits at a $2.8 billion valuation.
By contrast, last year’s youngest billionaire, Kylie Jenner, fell off the list after allegedly inflating her net worth. Interestingly, the Kardashian’s took great lengths to show Forbes the extent of her wealth, including showing them their tax returns along with invitations to their mansions.
Still, Jenner’s net worth stands at roughly $700 million.
A New Gilded Age?
Given the staggering growth of the ultra-wealthy in recent years, today’s wealth concentration is now comparable to America’s Gilded Age.
At the time, John D. Rockefeller was the richest person in the world—worth roughly $285 billion in today’s terms. His businesses produced 1.6% of total U.S. economic output.
By comparison, Elon Musk, at over $304 billion, still has a little ways to go just yet.
The data and graphics were last updated on November 8th, 2021.
United States
Charted: Public Trust in the Federal Reserve
Public trust in the Federal Reserve chair has hit its lowest point in 20 years. Get the details in this infographic.
The Briefing
- Gallup conducts an annual poll to gauge the U.S. public’s trust in the Federal Reserve
- After rising during the COVID-19 pandemic, public trust has fallen to a 20-year low
Charted: Public Trust in the Federal Reserve
Each year, Gallup conducts a survey of American adults on various economic topics, including the country’s central bank, the Federal Reserve.
More specifically, respondents are asked how much confidence they have in the current Fed chairman to do or recommend the right thing for the U.S. economy. We’ve visualized these results from 2001 to 2023 to see how confidence levels have changed over time.
Methodology and Results
The data used in this infographic is also listed in the table below. Percentages reflect the share of respondents that have either a “great deal” or “fair amount” of confidence.
| Year | Fed chair | % Great deal or Fair amount |
|---|---|---|
| 2023 | Jerome Powell | 36% |
| 2022 | Jerome Powell | 43% |
| 2021 | Jerome Powell | 55% |
| 2020 | Jerome Powell | 58% |
| 2019 | Jerome Powell | 50% |
| 2018 | Jerome Powell | 45% |
| 2017 | Janet Yellen | 45% |
| 2016 | Janet Yellen | 38% |
| 2015 | Janet Yellen | 42% |
| 2014 | Janet Yellen | 37% |
| 2013 | Ben Bernanke | 42% |
| 2012 | Ben Bernanke | 39% |
| 2011 | Ben Bernanke | 41% |
| 2010 | Ben Bernanke | 44% |
| 2009 | Ben Bernanke | 49% |
| 2008 | Ben Bernanke | 47% |
| 2007 | Ben Bernanke | 50% |
| 2006 | Ben Bernanke | 41% |
| 2005 | Alan Greenspan | 56% |
| 2004 | Alan Greenspan | 61% |
| 2003 | Alan Greenspan | 65% |
| 2002 | Alan Greenspan | 69% |
| 2001 | Alan Greenspan | 74% |
Data for 2023 collected April 3-25, with this statement put to respondents: “Please tell me how much confidence you have [in the Fed chair] to recommend the right thing for the economy.”
We can see that trust in the Federal Reserve has fluctuated significantly in recent years.
For example, under Alan Greenspan, trust was initially high due to the relative stability of the economy. The burst of the dotcom bubble—which some attribute to Greenspan’s easy credit policies—resulted in a sharp decline.
On the flip side, public confidence spiked during the COVID-19 pandemic. This was likely due to Jerome Powell’s decisive actions to provide support to the U.S. economy throughout the crisis.
Measures implemented by the Fed include bringing interest rates to near zero, quantitative easing (buying government bonds with newly-printed money), and emergency lending programs to businesses.
Confidence Now on the Decline
After peaking at 58%, those with a “great deal” or “fair amount” of trust in the Fed chair have tumbled to 36%, the lowest number in 20 years.
This is likely due to Powell’s hard stance on fighting post-pandemic inflation, which has involved raising interest rates at an incredible speed. While these rate hikes may be necessary, they also have many adverse effects:
- Negative impact on the stock market
- Increases the burden for those with variable-rate debts
- Makes mortgages and home buying less affordable
Higher rates have also prompted many U.S. tech companies to shrink their workforces, and have been a factor in the regional banking crisis, including the collapse of Silicon Valley Bank.
Where does this data come from?
Source: Gallup (2023)
Data Notes: Results are based on telephone interviews conducted April 3-25, 2023, with a random sample of –1,013—adults, ages 18+, living in all 50 U.S. states and the District of Columbia. For results based on this sample of national adults, the margin of sampling error is ±4 percentage points at the 95% confidence level. See source for details.
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