The latest insight from The Global Payroll Association (GPA), reveals that the world’s 100 richest billionaires have a combined fortune of over $5 trillion, and that women account for just 15% of the list.
GPA has analysed data on the personal wealth of the world’s 100 richest billionaires* and found that they have a combined fortune of more than $5 trillion.
US billionaires account for $2.5 trillion of this global total, followed by France ($463bn), India ($359bn), China ($258bn), and Russia ($176bn). The UK does not feature on the list because none of the world’s 100 wealthiest billionaires are from the UK.
The technology sector is the biggest wealth-maker, with $1.5 trillion worth of the global total being made from tech. In fact, 60% of the ten wealthiest billionaires in the world have amassed their fortunes through technology businesses.
This is followed by Fashion & Retail ($944bn), Finance & Investments ($643bn), Diversified Portfolios, meaning those people who have made their fortunes by expanding their business interests across multiple industries ($527bn), and Automotive ($272bn).
There is a stark billionaire gender gap with women accounting for just 15 names on the top 100 list.
Francoise Bettencourt, granddaughter of Eugène Schueller who founded L’Oréal. is the richest woman on the list, appearing at number 15 with a personal fortune of $99.5bn.
In total, the 15 female billionaires on the list have a combined wealth of $587bn compared to the $.4 trillion amassed by the 85 men who complete the top 100.
The average wealth of male billionaires in the top 100 stands at $52.2bn, compared to $39.1bn for female billionaires.
The ten richest people in the world
The richest person in the world is the French businessman, Bernard Arnault, who is the founder, chairman and CEO of LVMH, the world’s largest luxury goods company. His personal fortune totals a staggering $233bn.
Elon Musk is the second richest person alive with a fortune of $195bn, while fellow tech founders Jeff Bezos (Amazon), Mark Zuckerberg (Meta), and Larry Ellison (Oracle) complete the top five with respective fortunes of $194bn, $177bn, and $141bn.
Warren Buffet ranks sixth with a fortune of $133bn earned through various ventures in finance and investments, followed by Microsoft Co-Founder, Bill Gates ($128bn), former Microsoft CEO, Steve Ballmer ($121bn), Indian businessman, Mukesh Ambani ($116bn), and Google Co-Founder, Larry Page ($114bn).
Melanie Pizzey, CEO and Founder of the Global Payroll Association, said,“These 100 people have a level of wealth totally unimaginable to the rest of us. In fact, with a combined fortune of $5 trillion, these 100 people account for 1% of the money owned by every individual in the world combined.
And just look at how stark the gender gap is among the world’s richest people. Fifteen women and eighty-five men; and of those few women, you’re hard pressed to find even one who hasn’t amassed their fortune through inheritance or marriage.
Compare this with the number of ‘self-made’ billionaire men on the list, and it becomes clear that gender equality, while significantly improved over recent years, has not yet infiltrated the ranks of the ultra wealthy.. Why have no self-made women amassed fortunes large enough to appear on the list? We know it’s not because they don’t have the skills, ideas, or work ethic to compare to men, so there must be some other forces at play.”
