Richest Person In The World In 2010

Richest Person In The World In 2010 – First, there are new faces at the top of the leaderboards like never before. One of the most obvious changes is the accumulation of the richest billionaires

Using annual data from Forbes on the richest billionaires, we visualized the wealth and rankings of the top 10 billionaires of the past decade.

Richest Person In The World In 2010

Richest Person In The World In 2010

While the pecking order fluctuates, the leaderboard remains very unique. Out of a possible 10 places, only 19 individuals made the list in the past decade.

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Here is the current list of the richest billionaires in 2022, including when they first made the list (if in the last decade):

Richest Person In The World In 2010

*Billionaires with “-” made the list first at an earlier date. Example: Mukesh Ambani created the 2008 list.

Philanthropist Bill Gates, co-founder of Microsoft, is a constant presence at the top of these lists. Gates is currently ranked as his lowest in the period, but is still fourth. The billionaire has pledged to give away almost all of his fortune to the Bill & Melinda Gates Foundation.

Richest Person In The World In 2010

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From 2018 to 2021, Jeff Bezos sat at the top of the ranking of the richest people in the world, surpassed only by Elon Musk. In 2020, Bezos became the first person to amass a fortune of $200 billion after Amazon’s stock price surged during the pandemic. In recent months, Bezos’ net worth has taken a hit as Amazon’s stock price has come back down to earth.

Most wealth is held in the form of business equity, real estate and publicly traded stocks – all asset classes that benefited from an era of cheap money and very low interest rates.

Richest Person In The World In 2010

Over the decade, the average net worth of the top 10 billionaires nearly tripled from $39 billion to $115 billion.

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In fact, Jeff Bezos became the first billionaire to cross the $100 billion mark in 2018 when he topped Bill Gates’ list. However, now all but two of the 10 richest are centenarians.

Richest Person In The World In 2010

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Visualization of $156 Trillion in US Assets by Generation We visualized data from the Federal Reserve to provide a comprehensive breakdown of US assets by generation.

Richest Person In The World In 2010

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In the United States, for example, baby boomers own half of the nation’s $156 trillion in wealth despite making up 21% of the nation’s population.

To learn more about American wealth by generation, we created two visualizations using Q4 2022 data from the Federal Reserve that break down both the assets and liabilities held by each generation of Americans.

Richest Person In The World In 2010

Assets by generation are listed in the table below. All figures are from Q4 2022 and in USD trillions.

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Baby Boomers’ largest asset class is stocks and mutual funds, where they own 56% of the national total. Millennials, on the other hand, represent only 2%.

Richest Person In The World In 2010

Where millennials hold the most wealth is real estate, 12% of the national wealth. This suggests that millennials, for the most part, have avoided investing in financial assets to buy a home.

The following table shows the breakdown of liabilities by generation. Not surprisingly, mortgages make up the largest component of liabilities for all generations.

Richest Person In The World In 2010

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Something worth noting is that millennials take out the largest amount of consumer credit at $2 trillion (representing about 43% of all consumer credit). By 2022, millennials will make up 22% of the US population.

Finally, we subtract liabilities from assets to arrive at total wealth per generation in the United States. Figures are again in USD and trillions.

Richest Person In The World In 2010

As a final note, it’s worth highlighting that Gen Z is still too young to be included as a separate demographic in a dataset like this. Born between 1997 and 2012, these individuals are currently between 11 and 26 years old. Interestingly, the Federal Reserve currently considers all American adults born after 1981 to be millennials.

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Richest Person In The World In 2010

This bodes well for Amazon founder Jeff Bezos’ net worth, which fluctuates with the price movements of Amazon stock. In fact, the recent price increase on October 27 helped him surpass Bill Gates (again) to become the richest person in North America as well as the world.

Strictly speaking, “nominates” a person to represent the continent of Antarctica, even though it has no permanent residents.

Richest Person In The World In 2010

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Selected for this title? It is none other than Carnival CEO Arnold W. It is Donald, the largest cruise company in the world, which routinely makes revenue for Antarctic cruises to the icy continent.

This graphic has been modified since initial publication. Just yesterday, Mukesh Ambani climbed the list to become the richest man in Asia and now it reflected. Thanks to everyone who pointed this out.

Richest Person In The World In 2010

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Markets view: US corporate bankruptcies on the rise In 2023, more than 400 companies will have collapsed. This graph shows how corporate bankruptcies are growing at the second fastest rate since 2010.

Richest Person In The World In 2010

In March, Silicon Valley Bank collapsed, and a week later its parent company, SVB Financial Group, filed for bankruptcy.

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Richest Person In The World In 2010

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Across the wider corporate landscape, bankruptcies are becoming increasingly common. Overstretched balance sheets, along with 11 interest rate hikes since last year, have added to the challenges for companies across many sectors.

As of 2023, more than 400 corporations have gone under. Corporate insolvencies are rising at the fastest rate since 2010 (barring the pandemic), and are more than double the level seen this time last year.

Richest Person In The World In 2010

Represents public or private companies with public debt where either assets or liabilities are greater than or equal to $2 million or private companies where assets or liabilities are greater than or equal to $10 million during bankruptcy.

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Companies in the consumer discretionary and industrial sectors have seen the most bankruptcies based on available data. Historically, both sectors carry significant debt on their balance sheets relative to other sectors, making them more vulnerable in a rising exchange rate environment.

Richest Person In The World In 2010

Overall, US corporate interest income increased 22% year over year from the first quarter of 2021. These additional costs, combined with higher wages, energy and materials, among others, mean that companies may be under greater pressure to cut costs, to remodel. Debt, or in the worst case, folds.

This year, 16 companies with liabilities of more than $1 billion have filed for bankruptcy. The most notable retail chain is Bed Bath & Beyond and the parent company of Silicon Valley Bank.

Richest Person In The World In 2010

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Mattress giant Serta Simmons filed for bankruptcy earlier this year. It once accounted for 20% of US mattress sales. Due to the large part of debt this year, the company could not make payments due to high cost of borrowing.

In many ways, American corporations have remained resilient despite sharp increases in borrowing costs and economic uncertainty.

Richest Person In The World In 2010

This can be partly explained by stronger-than-expected profits in 2022. Some companies cut costs, while others raised prices in an inflationary environment, creating a buffer for rising interest payments. However, earnings for the S&P 500 began to decline this year, falling more than 5% in the second quarter of last year.

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Second, the composition of corporate debt is very different from what it was before the global financial crash. Many companies ended fixed-rate loans long after the crisis. Today, approximately 72% of rated US corporate debt has fixed rates.

Richest Person In The World In 2010

At the same time, banks are becoming more creative with their loan structures when companies are in trouble. The record for certain types of corporate bonds is “extension and improvement” activity. This debt restructuring enables companies to continue operating.

The bad news is that corporate debt increased during the pandemic and will pay off later

Richest Person In The World In 2010

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