FORBES LIST: 2020 BILLIONAIRE RANKING FINALLY REVEALED

billionaire ranking

The billionaire’s race for the top is once again reviewed this year as American business magazine Forbes compiles the annual billionaire ranking by net worth of the world’s wealthiest billionaires and sees the CEO and founder of Amazon reclaim the top spot.

New York (CNN Business) Not even a nearly $40 billion divorce can topple Amazon (AMZN) founder and CEO Jeff Bezos from being the world’s richest person.

For the third year in a row, Bezos landed the top spot on Forbes’ list of global billionaires. According to Forbes, his net worth fell from $18 billion last year to $113 billion, partially due to his high-profile split from MacKenzie Bezos. Amazon’s stock rose 15% last year, helping offset some of that loss.

MacKenzie Bezos also made her first appearance on the list, thanks to the $38 billion divorce settlement. As part of the settlement, she got 25% of the couple’s Amazon stock. She now ranks 22nd on Forbes’ list.

READ: FOOTBALL’S FIRST BILLIONAIRE REVEALED

Forbes revealed the 34th edition of the list Tuesday. The list takes into account some of the coronavirus pandemic, which has thrown global markets into a panic over the past few months. For the first half of March, 226 people lost their billionaire ranking status and there are 58 fewer billionaires compared to the same time last year.

In total, Forbes counted 2,095 billionaires.”Of the billionaires who remain, 51% are poorer than they were last year. In raw terms, the world’s billionaires are worth $8 trillion, down $700 billion from 2019,” Forbes said.

billionaire-ranking

Microsoft (MSFT) cofounder, Bill Gates, is in second place with a $98 billion fortune, an increase of $1.5 billion. Bernard Arnault, chairman, and CEO of luxury magnate LVMH (LVMHF), nudged Warren Buffett out of third place with a $76 billion fortune. At $67.5 billion, Buffett’s fortune landed in fourth place. The world’s richest woman continues to be Walmart (WMT) heir Alice Walton. She’s in ninth place with $54.4 billion.

Notable newcomers

Besides MacKenzie Bezos, there are 177 other fresh faces that grace the list for the first time. Eric Yuan, the founder, and CEO of Zoom (ZM), is number 293 at $5.5 billion.

His company’s stock blew up once the teleconferencing software started being widely used by people working from home during the pandemic. Another newcomer: Anthony von Mandl, the CEO of Mark Anthony Brands.

The company created White Claw, the country’s top-selling hard seltzer drink that has become a phenomenon for people craving a guilt-free boozy beverage. He’s worth an estimated $3.3 billion by Forbes’ calculations and sits at position number 590. Julia Koch, of the influential Koch Industries, is also new with a net worth of $38.2 billion.

She propelled onto the list at 18th place after she and her children received a 42% stake in the company after her husband David died in August 2019.

4 thoughts on “FORBES LIST: 2020 BILLIONAIRE RANKING FINALLY REVEALED

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