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In 2020, there were reportedly 2,095 billionaires on Earth, with an estimated total net worth of $8 trillion. Of this amount, the top 10 wealthiest people in the world account for $1,128.50 billion, or roughly 14.11%, which is impressive when you consider that they represent around 0.48% of billionaires.1 2 Below are the 10 individuals currently considered the wealthiest at the time of updating this article—Jan. 19, 2021—according to Bloomberg's Billionaires Index.
The current richest man in the world, Elon Musk has had his hands in several different companies over the years.2 Originally enrolled at Stanford University, Musk deferred his attendance to launch Zip2, one of the earliest online navigation services.4 6 A portion of the proceeds from this endeavor were then reinvested to create X.com, an online payment system that later became PayPal. While both of these systems were eventually sold to other companies, Musk has maintained his status as CEO and lead designer of his third project, Space Exploration Technologies (SpaceX), which aims to make space exploration more affordable.7
In 2004, Musk became a major funder of Tesla Motors (now Tesla), which led to him being retroactively declared a co-founder and his current position as CEO of the electric vehicle company.5 7 In addition to its line of electric automobiles—which include sedans, sport utility vehicles (SUVs), and the "Cybertruck" announced in 2019—Tesla also produces energy storage devices, automobile accessories, merchandise, and, through its acquisition of SolarCity in 2016, solar power systems.6 8 In 2020, Telsa's stock price experienced an astronomical surge, having risen 705% from the start of the year to mid-December.9 It joined the S&P 500 that same month, the largest company added thus far.10
In 2016, Musk founded two more companies, Neuralink and The Boring Company, with him serving as the CEO of the former.6 11 12 Neuralink is developing brain-machine interface devices to help individuals suffering from paralysis and potentially allow users to mentally interact with their computers and mobile devices.13 The Boring Company, meanwhile, develops boring machines for the purpose of drilling tunnels for underground public transportation systems, which would mitigate traffic congestion in major cities.14 It also (briefly) sold a handheld flamethrower.15
In 1994, Jeff Bezos founded Amazon.com in a garage in Seattle, shortly after he resigned from the hedge fund giant D.E. Shaw.16 18 In fact, he had originally pitched the idea of an online bookstore to his former boss David E. Shaw, who wasn't interested.19
Though Amazon.com originally started out selling books, it has since morphed into a one-stop-shop for everything under the sun, and is arguably the world's largest retailer.18 At any rate, it is hard to dispute its self-description as the "earth's most customer-centric company."20 Its pattern of constant diversification is evident in some of its unexpected expansions, which include acquiring Whole Foods in 2017 and launching its own branded over-the-counter drugs in Feb. 2018.21 22 In 2020, Amazon's share price skyrocketed on the heightened demand for online shopping as lockdowns forced consumers to stay home.23
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