The top 1 per cent of the wealthiest people in the world is worth US$42 trillion or twice as much as the bottom 99 per cent of the world.
in the world and this astronomical sum is worth US$42 trillion since 2020. In a report by Oxfam International, the wealth gathered by this powerful group is almost twice as much as the bottom 99 percent.
There are people who have amassed wealth and there are people who have also lost their wealth. As stock prices become more unstable due to uncertainties within the economy, rising geopolitical tension, supply chain disruptions and others, the annual ranking of the richest people in the world have shuffled. Some of the more prominent names have also been replaced and got pushed down further the hierarchy.
During the start of the new decade, sales at Tesla surged and this increase in demand helped push the company’s stock prices up. Tesla cars were the top choice for many and it also rode on the wave for sustainability. But due to various problems related to the supply chain and safety, the car quickly lose its desirability as its fellow competitors managed to debut better products. As a result, Tesla shares have fallen nearly 50 per cent from its peak in November 2021 through February 2023.
Also known for his conspicuous spending, Ellison bought 98 per cent of the Hawaiian island of Lanai in 2012 and even founded a team that won the prestigious America’s Cup in 2010.Known as the co-founder of Microsoft, Gates was the richest person on earth from 1995 to 2017 with some exceptions in 2008 and 2010 through 2013. He dropped out of college to setup Microsoft with hisin 1975, and the software programme became one of the first programmes available for the older generation of computers.
American businessman Steve Ballmer was CEO of Microsoft from 2000 to 2014, which he joined as employee number 30 in 1980. During his tenure, he oversaw the company through the first dot-com crash and kept pace with fellow competitors like Google in search capabilities and Apple in making mobile phones. In 2011, Ballmer was part of the mastermind behind the US$8.
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