by 2023 Billionaires List Forbes – The wealth of the world’s top 10 billionaires increased by more than $76 billion in the past year.
Among the world’s richest people, even in turbulent markets, their fortunes have soared to new heights with the spread of the COVID-19 epidemic.
2023 Billionaires List Forbes
Today’s infographic includes data from the Forbes Billionaires List and presents a detailed cross-section of the world’s billionaires, highlighting their stratospheric wealth in the current economic climate.
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The table below shows the wealth of the 10 richest people in the world, comparing the figures as of March 5, 2019 with the most recent data as of April 22, 2020.
Rounding out the top 10 search engines is former Microsoft CEO Steve Ballmer, whose fortune rose to more than $21 trillion in March 2019.
Facing the biggest losses is published investor Warren Buffett, whose net worth has fallen by more than $9 trillion in the past year. At the end of 2019, Buffett owned 11% of Delta Airlines. In April, Buffett sold 13 million shares of the airline.
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Meanwhile, Mark Zuckerberg’s fortune is stable. Surprisingly, the Facebook founder remains one of the youngest billionaires in the world (22nd in 2095), despite first joining the millionaires’ club a dozen years ago.
Zoom CEO Eric Yuan has been promoted as demand for online video communication continues to grow. Zoom went public in April 2019 with an impressive IPO valuation of $9.2 billion. As of April 24, 2020, Zoom was valued at over $44.3 billion.
Similarly, Jitsche Groen, the Takeaway.com food delivery company in the Netherlands, has also expanded significantly. Takeaway.com currently operates in 11 countries across Europe and in April received regulatory approval to complete its $7.6 billion merger with JustEat.
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Forrest Lee, who runs online gaming and e-commerce company C, also joined. The main players are Tencent and the private equity firm General Atlantic.
As the global economy suffers a loss of confidence and job losses, some of the world’s richest people are stepping up to the plate.
Twitter CEO Jack Dorsey is donating nearly 25% of his net worth to COVID-19 in the form of $1 billion worth of Square stock.
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His donation, held in a donor fund called Start Small LLC, is more than four times that of any other billionaire. That’s right, after the pandemic, Dorsey indicated that the money could be used for girls’ health and education, as well as Universal Basic Income (UBI).
A total of 77 of the world’s billionaires have made public contributions to the COVID-19 pandemic, which is only a fraction of the world’s super-rich.
As Covid-19 continues to spread around the world, will the world’s billionaires accumulate wealth at an even faster rate, or will a different picture emerge as unconventional policies become the norm around the world?
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Money Sees $65 Trillion in Hidden Debt Since 2008, the value of unliquidated dollar debt has doubled. Here’s why risk is rising in global financial markets.
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Less than $65 trillion is scattered around the world in financial systems registered in non-US banks and shadow banks. With that in mind, global GDP is $104 trillion.
This comes in the form of dollar debt swaps, which have been driven by inflation and ultra-low interest rates over the past decade as investors seek higher yields. Today, the unaccounted debt from these currency exchanges is more than double the dollar debt officially recorded on the balance sheets of these institutions.
Based on analysis by the Bank for International Settlements (BIS), the above infographic shows the growth of hidden dollar loans to non-US financial institutions and explores the broader implications of this growth.
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To begin, we briefly review the role of foreign exchange (foreign exchange) in the global economy. The Forex market is the largest in the world, with billions of trades per day.
Understanding Forex trading is about studying the role of exchange rate risk. As we see in 2022, the US dollar is torn apart. If this happens, it will hurt the profitability of companies generating cross-border income. This is because they receive their income in a foreign currency (which has depreciated against the dollar) but convert their income into US dollars.
In order to reduce exchange rate risk, market participants buy foreign exchange swaps. Here, both parties agree to exchange one currency for another. In essence, it helps protect the company from unfavorable foreign exchange rates.
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In addition, due to accounting rules, currency exchanges are often off-balance sheet, so they are relatively opaque.
Its growth was partly due to the period of low global interest rates. As investors seek higher returns, they profit more, and forex trading is a good example.
Now, as interest rates rise, currency swaps have surged amid heightened market volatility as investors seek to hedge currency risk. This is reflected in US banks and non-US shadow banks, which are unregulated financial intermediaries.
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Overall, the value of undischarged debt is staggering. Non-US banks hold approximately $39 trillion worldwide, with $26 trillion held by shadow banks.
During the market crash of 2008 and 2020, currency exchanges experienced tight funding. Market participants had to pay higher interest rates to borrow US dollars. Much of this was related to the impact of extreme volatility on stock markets, which put pressure on prime interest rates.
In both cases, the US Federal Reserve had to intervene to provide liquidity to the market and prevent a dollar shortage. It pumped cash into the system and established swap lines with other non-US banks, such as the Bank of Canada or the Bank of Japan. These are designed to protect against currency depreciation and low liquidity.
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The risk of rising dollar loans and swaps arises when a non-US bank or shadow bank is unable to close the deal. In fact, there are $2.2 trillion in foreign exchange markets every day that are at risk of being liquidated.
Due to the large scale of this dollar-denominated debt, it can have large systemic spillover effects. Failure by participants to pay could undermine the stability of financial markets. As demand for the US dollar increases during times of market uncertainty, a poor economic environment can further weaken the foreign exchange market.
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As billionaire wealth accumulates at an alarming rate, we present a snapshot of the world’s richest in 2022, based on data from Forbes’ real-time billionaire list.
Despite supply chain disruptions, Tesla’s deliveries increased 27% compared to the second quarter of 2021. Musk, who is also the CEO and chief engineer of SpaceX, plans to send the largest rocket ever built into orbit in 2022. It is 119 meters high.
Jeff Bezos ranks fourth with a net worth of $150 billion. Since last March, Amazon shares have fallen more than 20% due to inflationary price pressures and sluggish retail performance.
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Most notably, Meta (formerly Facebook) CEO Mark Zuckerberg dropped out of the top 10 for the first time since 2016. Meta shares fell after the number of global daily active users fell for the first time since 2004.
Gautam Adani has seen his fortune rise more than anyone else on this top 10 list. Adani is one of the three largest industrial conglomerates in India. In the coming years, Adani plans to invest 70 billion dollars in the renewable energy sector.
Like Adani, Musk’s wealth has grown the fastest, although Tesla shares have fallen more than 30% since their peak in November.
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Thanks to the stratospheric growth of cryptocurrencies, at least ten people around the world are worth millions, even in the middle of crypto winter.
Sam Bankman-Fried, the founder of the FTX crypto derivatives exchange, leads the list with a net worth of $18 trillion. Bankman-Fried launched the stock exchange in 2019, at the age of 27.
The list also includes the founders of the Gemini cryptocurrency exchange, Cameron and Tyler Winklevoss.
