Big losers of 2022: Bernard Arnault, Elon Musk and Jeff Bezos

Last year was a very negative year for the world’s top wealthy. According to the list published by Forbes magazine, the top 25 of the world’s leading fortunes lost $200 billion last year.

That’s right, they started 2023 with a total net worth of $2.1 trillion, 9 percent less than how they had started 2021.

There are 2,640 people in the world with a ten-figure fortune (equal to or greater than one billion), 28 people less than in 2021, according to Forbes.

The person who closed 2022 as the richest in the world (the magazine uses the value of shares and exchange rates on March 10 of this year) is Bernard Arnault, CEO of the French multinational conglomerate, absolute leader in luxury, owner of Louis Vuitton, Christian Dior, among others, who reached 211 billion.

Arnault surpassed Elon Musk (180 billion), the South African-American entrepreneur, who lost almost 40 billion last year due to his troubled acquisition of Twitter, which dragged down the value of his electric car company Tesla.

That’s what we talked about a few days ago in Investor Times.

Arnault, Musk and Bezos

Rounding out the podium of wealthiest people is Jeff Bezos, owner of Amazon, with a net worth of $114 billion, almost $57 billion less than in 2021.

The e-commerce company, which led the entrepreneur to be at the top of the list in 2017, suffered in the U.S. stock market the losses that affected the technology sector in general, with a 50 percent drop in the value of its shares in 2022.

And a complicated fact for Bezos: he was the person who lost the most money in the year.

From Larry Elison to Amancio Ortega

Following the list is Larry Elison, one of the founders of Oracle, who ended 2022 with a personal wealth that reached $107 billion, down almost 1 percent from the previous year.

On the other hand, the American investor and businessman, chairman of Berkshire Hathaway, Warren Buffet, closed the year in fifth position, with 106 billion, more than 10 percent less than in 2021.

Further behind (although certainly not poor) are Bill Gates, co-founder of Microsoft, with 104 billion (he suffered losses of 25 billion) and the American businessman and politician Michael Bloomberg, with 95 billion (he earned 13 billion).

The first woman on the list is Francoise Bettencourt Meyers, heiress of the French cosmetics and beauty company L’Oréal, who closed the year with a net worth of 80.5 billion dollars.

The first Ibero-American on the list is the founder of Inditex, Amancio Ortega, who ended with a wealth of 77.3 billion dollars (almost 30 percent more than in 2021), which placed him in the thirteenth position.

Ideas for investors

Forbes rankings highlight both the leading fortunes and those with the highest annual increases, providing a glimpse into the financial success of companies. This, for some, can be a very good way to think about potential investment targets.

The importance of the Forbes ranking also provides valuable information on the global economy, the influence of certain industries and the impact of entrepreneurship and innovation.

These fortunes represent not only personal financial success, but also the power to drive change, shape industries and create jobs, making them a key indicator of economic health and business trends.

The market impact of these fortunes is also significant. The success and wealth of these individuals often translates into higher market capitalization for their respective companies, boosting shareholder value and investor confidence.

In addition, the innovations, investments and philanthropic efforts of these wealthy individuals can have a ripple effect on other companies, industries and economies, shaping the global business landscape and contributing to economic growth and development.