• Tesla chief executive Elon Musk, with a net worth of $219 billion, tops the latest Forbes Billionaires List. AFP
    Tesla chief executive Elon Musk, with a net worth of $219 billion, tops the latest Forbes Billionaires List. AFP
  • Jeff Bezos of Amazon was knocked off the top spot for the first time in four years. Getty
    Jeff Bezos of Amazon was knocked off the top spot for the first time in four years. Getty
  • Bernard Arnault, the head of French luxury goods group LVMH, stayed firm in third place. AFP
    Bernard Arnault, the head of French luxury goods group LVMH, stayed firm in third place. AFP
  • American businessman and philanthropist Bill Gates is the world's fourth richest person according to Forbes. AFP
    American businessman and philanthropist Bill Gates is the world's fourth richest person according to Forbes. AFP
  • Chairman and chief executive of Berkshire Hathaway Warren Buffett completes the top five. AFP
    Chairman and chief executive of Berkshire Hathaway Warren Buffett completes the top five. AFP
  • Larry Page, chief executive and co-founder of Alphabet, with a net worth of $111 billion, is sixth on the list. Reuters
    Larry Page, chief executive and co-founder of Alphabet, with a net worth of $111 billion, is sixth on the list. Reuters
  • Co-founder of Google/Alphabet Sergey Brin is seventh with $107 billion. Reuters
    Co-founder of Google/Alphabet Sergey Brin is seventh with $107 billion. Reuters
  • Businessman Larry Ellison's $106 billion puts him eighth on the Forbes list. Reuters
    Businessman Larry Ellison's $106 billion puts him eighth on the Forbes list. Reuters
  • American businessman Steve Ballmer is ranked ninth by Forbes. Getty Images
    American businessman Steve Ballmer is ranked ninth by Forbes. Getty Images
  • Mukesh Ambani, Asia's richest person with $90.7 billion, completes the world's top 10. Reuters
    Mukesh Ambani, Asia's richest person with $90.7 billion, completes the world's top 10. Reuters

Elon Musk declared world’s richest person as net worth of wealthy slips to $12.7tn


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The combined net worth of the world’s richest people slipped 3 per cent to $12.7 trillion over the past year, from a record $13.1tn in 2021, driven by the Russia-Ukraine crisis, Covid-19 pandemic and volatile stock markets, with Elon Musk, the founder and chief executive of Tesla topping the Forbes’ 2022 World Billionaires List.

There are 2,668 billionaires in the world, down from an all-time high of 2,755 last year, it said in the annual report, which used stock prices and exchange rates from March 11 to calculate the net worth of the world’s richest people.

“In all, 329 people fell off the billionaires list this year – the most since the 2009 financial crisis,” Forbes said on Tuesday.

Mr Musk, who was recently appointed to Twitter's board after emerging as the biggest single shareholder in the microblogging platform on Monday, topped the Forbes list for the first time with a net worth of $219 billion.

The billionaire, who owns more than 73.4 million shares in the social media platform valued at about $3bn, will “serve as a Class II director with a term expiring at the company’s 2024 annual meeting of stockholders”, Twitter said in a US Securities and Exchange Commission filing on Tuesday.

In contrast to the Forbes' list, the Bloomberg Billionaires Index named Mr Musk the world’s richest person at the end of 2021 with a personal fortune of $273.5bn.

Mr Musk added $68bn to his net worth over the past year after a 33 per cent jump in the share price of his electric vehicle maker, Tesla, Forbes said.

Amazon founder Jeff Bezos fell to number two for the first time in four years “due to a 3 per cent drop in Amazon stock and increased charitable giving, which wiped $6bn from his net worth”, it said.

French luxury goods tycoon Bernard Arnault, who added $8bn to his fortune over the past year, remains the world’s third-richest person. Rounding out the top five are Bill Gates and Warren Buffett with personal fortunes of $129bn and $118bn, respectively.

There were 236 newcomers added to the billionaire ranks this year, including pop star Rihanna, Lord of the Rings director Peter Jackson and venture capitalist Josh Kushner.

The US is home to the most billionaires on the planet with 735, 11 more than in 2021, Forbes said. China is second with 607 billionaires, followed by India (166), Germany (134) and Russia (83). India's Mukesh Ambani remains Asia’s wealthiest person and the 10th richest in the world with a fortune of $90.7bn.

Barbados, Bulgaria, Estonia and Uruguay each gained their first billionaires. Despite the volatile year, 1,050 billionaires are wealthier than they were a year ago, according to Forbes.

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Russia's military offensive in Ukraine and the sanctions that followed led the Moscow Exchange and the rouble to plummet, resulting in 34 fewer Russian billionaires on the list, Forbes said.

Meanwhile, 86 people under the age of 40 made the Forbes Billionaires List this year, including Australia's Melanie Perkins, 34, co-founder and chief executive of graphic design platform Canva, with a fortune of $6.5bn.

Even more impressive are the 12 billionaires under the age of 30, Forbes said.

“This includes the world’s youngest billionaire, German drugstore chain heir Kevin David Lehmann, 19, and newcomer Gary Wang, 28, the Bahamas-based American co-founder of cryptocurrency exchange FTX – one of 19 billionaires to get rich from crypto and blockchain technology,” it said.

Francoise Bettencourt Meyers, the granddaughter of the founder of L'Oreal, is the world's richest woman with a net worth of $72.8bn.

Top 10 richest people and their net worth

  • Elon Musk: $219bn
  • Jeff Bezos: $171bn
  • Bernard Arnault: $158bn
  • Bill Gates: $129bn
  • Warren Buffett: $118bn
  • Larry Page: $111bn
  • Sergey Brin: $107bn
  • Larry Ellison: $106bn
  • Steve Ballmer: $91.4bn
  • Mukesh Ambani: $90.7bn
ESSENTIALS

The flights

Emirates flies direct from Dubai to Rio de Janeiro from Dh7,000 return including taxes. Avianca fliles from Rio to Cusco via Lima from $399 (Dhxx) return including taxes. 

The trip

From US$1,830 per deluxe cabin, twin share, for the one-night Spirit of the Water itinerary and US$4,630 per deluxe cabin for the Peruvian Highlands itinerary, inclusive of meals, and beverages. Surcharges apply for some excursions.

Ferrari 12Cilindri specs

Engine: naturally aspirated 6.5-liter V12

Power: 819hp

Torque: 678Nm at 7,250rpm

Price: From Dh1,700,000

Available: Now

Election pledges on migration

CDU: "Now is the time to control the German borders and enforce strict border rejections" 

SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom" 

How to vote

Canadians living in the UAE can register to vote online and be added to the International Register of Electors.

They'll then be sent a special ballot voting kit by mail either to their address, the Consulate General of Canada to the UAE in Dubai or The Embassy of Canada in Abu Dhabi

Registered voters mark the ballot with their choice and must send it back by 6pm Eastern time on October 21 (2am next Friday) 

Federer's 19 grand slam titles

Australian Open (5 titles) - 2004 bt Marat Safin; 2006 bt Marcos Baghdatis; 2007 bt Fernando Gonzalez; 2010 bt Andy Murray; 2017 bt Rafael Nadal

French Open (1 title) - 2009 bt Robin Soderling

Wimbledon (8 titles) - 2003 bt Mark Philippoussis; 2004 bt Andy Roddick; 2005 bt Andy Roddick; 2006 bt Rafael Nadal; 2007 bt Rafael Nadal; 2009 bt Andy Roddick; 2012 bt Andy Murray; 2017 bt Marin Cilic

US Open (5 titles) - 2004 bt Lleyton Hewitt; 2005 bt Andre Agassi; 2006 bt Andy Roddick; 2007 bt Novak Djokovic; 2008 bt Andy Murray

MATCH INFO

Inter Milan 2 (Vecino 65', Barella 83')

Verona 1 (Verre 19' pen)

TECH%20SPECS%3A%20APPLE%20WATCH%20SE%20(second%20generation)
%3Cp%3EDisplay%3A%2040mm%2C%20324%20x%20394%3B%2044mm%2C%20368%20x%20448%3B%20Retina%20LTPO%20OLED%2C%20up%20to%201000%20nits%3B%20Ion-X%20glass%3C%2Fp%3E%0A%3Cp%3EProcessor%3A%20Apple%20S8%2C%20W3%20wireless%3C%2Fp%3E%0A%3Cp%3ECapacity%3A%2032GB%3C%2Fp%3E%0A%3Cp%3EMemory%3A%201GB%3C%2Fp%3E%0A%3Cp%3EPlatform%3A%20watchOS%209%3C%2Fp%3E%0A%3Cp%3EHealth%20metrics%3A%202nd-gen%20heart%20rate%20sensor%2C%20workouts%2C%20fall%2Fcrash%20detection%3B%20emergency%20SOS%2C%20international%20emergency%20calling%3C%2Fp%3E%0A%3Cp%3EConnectivity%3A%20GPS%2FGPS%20%2B%20cellular%3B%20Wi-Fi%2C%20LTE%2C%20Bluetooth%205.3%2C%20NFC%20(Apple%20Pay)%3C%2Fp%3E%0A%3Cp%3EDurability%3A%20Water%20resistant%20up%20to%2050m%3C%2Fp%3E%0A%3Cp%3EBattery%3A%20269mAh%20Li-ion%2C%20up%20to%2018h%2C%20wireless%20charging%3C%2Fp%3E%0A%3Cp%3ECards%3A%20eSIM%3C%2Fp%3E%0A%3Cp%3EFinishes%3A%20Aluminium%3B%20midnight%2C%20silver%2C%20starlight%3C%2Fp%3E%0A%3Cp%3EIn%20the%20box%3A%20Watch%20SE%2C%20magnetic-to-USB-C%20charging%20cable%2C%20band%2Floop%3C%2Fp%3E%0A%3Cp%3EPrice%3A%20Starts%20at%20Dh999%20(40mm)%20%2F%201%2C119%20(44mm)%3C%2Fp%3E%0A
Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

TOURNAMENT INFO

Women’s World Twenty20 Qualifier

Jul 3- 14, in the Netherlands
The top two teams will qualify to play at the World T20 in the West Indies in November

UAE squad
Humaira Tasneem (captain), Chamani Seneviratne, Subha Srinivasan, Neha Sharma, Kavisha Kumari, Judit Cleetus, Chaya Mughal, Roopa Nagraj, Heena Hotchandani, Namita D’Souza, Ishani Senevirathne, Esha Oza, Nisha Ali, Udeni Kuruppuarachchi

Seemar’s top six for the Dubai World Cup Carnival:

1. Reynaldothewizard
2. North America
3. Raven’s Corner
4. Hawkesbury
5. New Maharajah
6. Secret Ambition

Company%C2%A0profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3Eamana%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2010%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Karim%20Farra%20and%20Ziad%20Aboujeb%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EUAE%3Cbr%3E%3Cstrong%3ERegulator%3A%20%3C%2Fstrong%3EDFSA%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinancial%20services%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E85%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESelf-funded%3Cbr%3E%3C%2Fp%3E%0A
Terror attacks in Paris, November 13, 2015

- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France

BAD%20BOYS%3A%20RIDE%20OR%20DIE
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Adil%20El%20Arbi%20and%20Bilall%20Fallah%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3EWill%20Smith%2C%20Martin%20Lawrence%2C%20Joe%20Pantoliano%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203.5%2F5%3C%2Fp%3E%0A
The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat 

Dengue%20fever%20symptoms
%3Cul%3E%0A%3Cli%3EHigh%20fever%3C%2Fli%3E%0A%3Cli%3EIntense%20pain%20behind%20your%20eyes%3C%2Fli%3E%0A%3Cli%3ESevere%20headache%3C%2Fli%3E%0A%3Cli%3EMuscle%20and%20joint%20pains%3C%2Fli%3E%0A%3Cli%3ENausea%3C%2Fli%3E%0A%3Cli%3EVomiting%3C%2Fli%3E%0A%3Cli%3ESwollen%20glands%3C%2Fli%3E%0A%3Cli%3ERash%3C%2Fli%3E%0A%3C%2Ful%3E%0A%3Cp%3EIf%20symptoms%20occur%2C%20they%20usually%20last%20for%20two-seven%20days%3C%2Fp%3E%0A
THE SPECS

Engine: 6.0-litre, twin-turbocharged W12

Transmission: eight-speed automatic

Power: 626bhp

Torque: 900Nm

Price: Dh1,050,000

On sale: now

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.

Part three: an affection for classic cars lives on

Read part two: how climate change drove the race for an alternative 

Read part one: how cars came to the UAE

T20 World Cup Qualifier

Final: Netherlands beat PNG by seven wickets

Qualified teams

1. Netherlands
2. PNG
3. Ireland
4. Namibia
5. Scotland
6. Oman

T20 World Cup 2020, Australia

Group A: Sri Lanka, PNG, Ireland, Oman
Group B: Bangladesh, Netherlands, Namibia, Scotland

Updated: April 11, 2022, 6:17 AM