Making Billions: The Richest People in the World in 2020
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Making Billions: The Richest People in the World



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The Richest People in the World

In the last year, the wealth controlled by the world’s top 10 billionaires has jumped by over $76B.

Even in the teeth of jittery markets, many of the world’s richest people have seen their wealth surge to new heights as COVID-19 unfolds.

Today’s infographic draws data from Forbes Billionaire’s List and shows a broad cross-section of the world’s billionaires – highlighting their stratospheric wealth in the current economic climate.

Wealth in Astonishing Circumstances

The below table shows the fortunes of the world’s 10 richest people, comparing the numbers from March 5, 2019 to the most recent data from April 22, 2020.

RankNameNet Worth 2020*Net Worth 2019*Change 2019-2020
#1Jeff Bezos$145B$131B+$14.1B
#2Bill Gates$104B$97B+$7.1B
#3Bernard Arnault & Family$92B$76B+$15.5B
#4Warren Buffett$73B$83B-$9.1B
#5Mark Zuckerberg$69B$62B+$6.5B
#6Larry Ellison$66B$63B+$3.4B
#7Steve Ballmer$63B$41B+$21.3B
#8Amancio Ortega$61B$63B-$2.2B
#9Larry Page$58B$51B+$7.6B
#10Jim Walton$57B$45B+$12.0B
Total Change+$76.2B

Source: Forbes – *As of April 22, 2020 **As of March 5, 2019

Gaining the highest across the top 10 is former Microsoft CEO Steve Ballmer, who saw his fortune rise over $21 billion since March 2019.

Facing the steepest losses belong to investing luminary Warren Buffett, whose net worth has dropped over $9 billion over the past year. At year-end 2019 Buffett was a 11% shareholder in Delta Airlines. In April, Buffett sold 13 million shares in the airline.

Meanwhile, Mark Zuckerberg’s fortune is holding steady. Amazingly, the Facebook founder still remains one of the world’s youngest billionaires (ranking 22nd out of 2,095) despite first joining the billionaire club a dozen years ago.

Newcomers to the List

As a new decade begins, who are among the most newly-minted billionaires?

Eric Yuan, CEO of Zoom has climbed in the ranks as online video communication demand soars. Zoom went public in April 2019 at a stunning $9.2 billion IPO valuation. As of April 24, 2020, Zoom was valued at over $44.3 billion.

RankNameNet WorthSource of Wealth
#1Eric Yuan$7.8BZoom
#2Anthony von Mandl$3.9BMark Anthony Brands
#3Larry Xiangdong Chen$3.6BGSX Techedu
#4Dmitry Bukhman$3.1BPlayrix
#5Igor Bukhman$3.1BPlayrix
#6Sun Huaiqing$3.0BGuangdong Marubi Biotechnology
#7Forrest Li$2.4BSea Group
#8Byju Raveendran$1.7BByju's
#9Jitse Groen$
#10Qian Ying$1.5BMuyuan Foods

*As of April 22, 2020

Similarly, Netherland’s Jitse Groen has witnessed his food-delivery company expand extensively. currently operates in 11 countries across Europe and received regulatory approval to complete a $7.6 billion merger with JustEat in April.

Forrest Li who runs Sea, an online-gaming and e-commerce company, has similarly joined the ranks. Tencent and private equity firm General Atlantic are among its major stakeholders.

The COVID-19 Response

As the global economy contends with a loss of confidence and job losses, some of the world’s richest people are stepping up to the plate.
Billionaires with COVID-19 donations

Twitter CEO Jack Dorsey is donating roughly 25% of his net worth to COVID-19 in the form of Square stock, valued at $1B.

His donation, which was placed in a donor-advised fund called Start Small LLC, is more than four times higher than any other billionaire. That said, after the pandemic, Dorsey also stated that this money may also go towards girl’s health and education, as well as universal basic income (UBI).

RankNameCOVID-19-Related Donation% of Net Worth
#1Jack Dorsey$1B25.6%
#2Bill & Melinda Gates$255M0.2%
#3Azim Premji$132M2.2%
#4Andrew Forrest$100M+1.2%+
#5Jeff Bezos$100M0.1%
#6Michael Dell$100M0.4%
#7Lynn Schusterman, Stacy Schusterman$70M2.1%
#8Amancio Ortega$68M0.1%
#9Nicky Oppenheimer$54.5M0.7%
#10Johann Rupert$54.5M1.1%

*As of April 15, 2020

Overall, 77 of the world’s billionaires have made public contributions related to the COVID-19 pandemic, just a fraction of the world’s ultra-rich.

As COVID-19 continues to spread globally, will the world’s billionaires still accumulate wealth at greater speeds, or will a different picture emerge as unconventional policies around the world become increasingly commonplace?

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Personal Finance

How Do Americans Spend Their Money, By Generation?

This interactive graphic shows a breakdown of how average Americans spend their money, and how expenses vary across generations.



Annual Expenditure in the U.S. by Generation

How Americans Spend Their Money, By Generation

In 2021, the average American spent just over $60,000 a year. But where does all their money go? Unsurprisingly, spending habits vary wildly depending on age.

This graphic by Preethi Lodha uses data from the U.S. Bureau of Labor Statistics to show how average Americans spend their money, and how annual expenses vary across generations.

A Generational Breakdown of Overall Spending

Overall in 2021, Gen X (anyone born from 1965 to 1980) spent the most money of any U.S. generation, with an average annual expenditure of $83,357.

GenerationBirth Year RangeAverage Annual Expenditure (2021)
Silent1945 or earlier$44,683
Boomers1946 to 1964$62,203
Generation X1965 to 1980$83,357
Millennials1981 to 1996$69,061
Generation Z1997 or later$41,636

Gen X has been nicknamed the “sandwich generation” because many members of this age group are financially supporting both their aging parents as well as children of their own.

The second biggest spenders are Millennials with an average annual expenditure of $69,061. Just like Gen X, this generation’s top three spending categories are housing, healthcare, and personal insurance.

On the opposite end of the spectrum, members of Generation Z are the lowest spenders with an average of $41,636. per year. Their spending habits are expected to ramp up, especially considering that in 2022 the oldest Gen Zers are just 25 and still early in their careers.

Similarities Across Generations

While spending habits vary depending on the age group, there are some categories that remain fairly consistent across the board.

One of the most consistent spending categories is housing—it’s by the far the biggest expense for all age groups, accounting for more than 30% of total annual spending for every generation.

GenerationAverage Spend on Housing (2021)% of Total Spend
Silent (1945 or earlier)$16,65637.3%
Boomers (1946 to 1964)$21,27334.2%
Generation X (1965 to 1980)$26,38531.7%
Millennials (1981 to 1996)$24,05234.8%
Generation Z (1997 or later)$15,44937.1%

Another spending category that’s surprisingly consistent across every generation is entertainment. All generations spent more than 4% of their total expenditures on entertainment, but none dedicated more than 5.6%.

GenerationAverage Spend on Entertainment (2021)% of Total Spend
Silent (1945 or earlier)$2,0274.5%
Boomers (1946 to 1964)$3,4765.6%
Generation X (1965 to 1980)$4,6945.6%
Millennials (1981 to 1996)$3,4575.0%
Generation Z (1997 or later)$1,6934.1%

Gen Zers spent the least on entertainment, which could boil down to the types of entertainment this generation typically enjoys. For instance, a study found that 51% of respondents aged 13-19 watch videos on Instagram on a weekly basis, while only 15% watch cable TV.

Differences Across Generations

One category that varies the most between generations and relative needs is spending on healthcare.

As the table below shows, the Silent Generation spent an average of $7,053 on healthcare, or 15.8% of their total average spend. Comparatively, Gen Z only spent $1,354 on average, or 3.3% of their total average spend.

GenerationAverage Spend on Healthcare (2021)% of Total Spend
Silent (1945 or earlier)$7,05315.8%
Boomers (1946 to 1964)$6,59410.6%
Generation X (1965 to 1980)$5,5506.7%
Millennials (1981 to 1996)$4,0265.8%
Generation Z (1997 or later)$1,3543.3%

However, while the younger generations typically spend less on healthcare, they’re also less likely to be insured—so those who do get sick could be left with a hefty bill.

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Mapped: The World’s Billionaire Population, by Country

Collectively, worldwide billionaire wealth is nearly $12 trillion. This map breaks down where these 3,311 billionaires live around the globe.



Visualized: The World’s Billionaire Population

The world’s billionaires—only 3,311 individuals—represent almost $11.8 trillion in wealth. The global billionaire population continued to grow in 2021, increasing by 3%. Over the same period, billionaire wealth also increased by 18%.

This map uses data from the Wealth-X Billionaire Census to visualize where the world’s billionaires live and breaks down their collective wealth.

Note on methodology: The report uses proprietary data from Wealth-X. Billionaire status is determined by assessing an individual’s total net worth, including publicly and privately held businesses and investable assets. To determine a billionaire’s location, Wealth-X used their primary business address.

Billionaires by Region

We’ll begin by zooming out to look at how various continents and world regions rank in terms of their billionaire population.

North America is home to most billionaires, worth $4.6 trillion. The U.S., unsurprisingly, accounts for the majority of this wealth, with 975 billionaires and a collective net worth of $4.45 trillion.

RankRegionNumber of billionairesCollective Billionaire Wealth
#1North America1,035$4.6 trillion
#2Europe954$3.1 trillion
#3Asia899$2.9 trillion
#4Middle East191$519 billion
#5Latin America and the Caribbean146$465 billion
#6Africa46$104 billion
#7Pacific40$89 billion

In regional terms, Europe’s billionaire wealth is growing the fastest, up 22% year-over-year in 2021. In contrast, the year-over-year change in the Middle East was -12.5%.

Asia is inching towards Europe, holding almost a quarter of all billionaire wealth worldwide, compared to Europe’s 26.5%.

Wealth in Africa will also be important to watch in coming years. Although only home to 46 billionaires currently, the change in billionaire wealth increased by almost 17% year-over-year. Additionally, while they no longer live there, a number of the world’s billionaires hail from African countries originally.

Billionaires by Country

Now, let’s look at the ranking broken down by the top 15 countries:

RankCountryNumber of BillionairesCollective Billionaire Wealth
#1🇺🇸 US975$4.45 trillion
#2🇨🇳 China400$1.45 trillion
#3🇩🇪 Germany176$602 billion
#4🇮🇳 India124$384 billion
#5🇬🇧 UK120$266 billion
#6🇭🇰 Hong Kong SAR114$287 billion
#7🇨🇭 Switzerland111$365 billion
#8🇷🇺 Russia107$475 billion
#9🇸🇦 Saudi Arabia71$192 billion
#10🇫🇷 France68$294 billion
#11🇮🇹 Italy68$207 billion
#12🇨🇦 Canada60$131 billion
#13🇧🇷 Brazil52$159 billion
#14🇸🇬 Singapore50$99 billion
#15🇦🇪 UAE45$181 billion

China is an obvious second in billionaire wealth to the United States, with famous billionaires like Zhang Yiming ($44.5 billion) of TikTok and Zhong Shanshan ($67.1 billion), whose wealth primarily comes from the pharmaceutical and beverages industries.

That said, Chinese billionaire wealth actually decreased 2% last year. It was India that came out on top in terms of growth, seeing a 19% increase in 2021.

Billionaires by City

Looking at cities, New York is home to the most billionaires—with 13 added billionaire residents last year—followed by Hong Kong.

RankCityCountryNumber of Billionaires
#1New York City🇺🇸 U.S.138
#2Hong Kong🇭🇰 China114
#3San Francisco🇺🇸 U.S.85
#4London🇬🇧 UK77
#5Moscow🇷🇺 Russia75
#6Beijing🇨🇳 China63
#7Los Angeles🇺🇸 U.S.59
#8Singapore🇸🇬 Singapore50
#9Shenzhen🇨🇳 China44
#10Mumbai🇮🇳 India40
#11Dubai🇦🇪 UAE38
#12Hangzhou🇨🇳 China35
#13São Paulo🇧🇷 Brazil34
#14Istanbul🇹🇷 Turkey33
#15Paris🇫🇷 France33

Billionaire Wealth in 2022

Billionaires have significant power and influence, not in the least because their collective wealth is equivalent to about 11.8% of global GDP.

In recent billionaire news, Gautam Adani’s wealth has been soaring, most recently hitting the $145 billion mark, making him the third-richest person in the world according to Bloomberg’s Billionaire Index. However, not all billionaires are holding on to their wealth. Patagonia founder, Yvon Chouinard, recently transferred ownership of his company to an organization that fights climate change.

Over the last decade, billionaires have been grown their fortunes considerably, with wealth increasing at a faster rate than the growth in the number of billionaires themselves. According to Wealth-X, collective billionaire net worth grew by an astonishing 90% in the last 10 years.

But in the shorter term, the situation is often more volatile. With markets reeling in 2022, Bloomberg reported that billionaires lost a record $1.4 trillion over the first half of the year. Once the year is over and the final numbers are in, it will be interesting to see how the billionaire landscape shapes up in comparison to the more long-term trend.

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