Forbes World’s Billionaires List 2020

Chaudhary Drops 164 Spots, Bezos Retains No 1 Position

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Forbes World’s Billionaires List 2020

April 8: Binod Chaudhary, who was constantly rising in the ranks of global billionaire since he first appeared in the Forbes billionaires list in 2013, has seen his fortune decreased by USD 300 million. The first and the only dollar-billionaire of Nepal ranked1,513th in the Forbes World’s Billionaires List 2020, down 164 spots from 1,349th in 2019. As of April 8, 2020, his net worth stood at USD 1.4 billion which was USD 1.7 billion in 2019. The 64-year old corporate czar, who manages his business interests worldwide through CG Corp Global, has a diverse investment portfolio ranging from production of noodles and beer, manufacturing/trading of consumer electronics to hotels and banking sector.  

Founder and CEO of the US e-commerce giant Amazon Jeff Bezos retained the no. 1 spot in the list with a net worth of USD 113 billion despite the divorce with his wife MacKenzie Bezos last year that cost him around USD 40 billion. It is for the third year in a row that the tech entrepreneur has hold the top spot in the rich list. According to Forbes, the 15 percent increase in the value of Amazon’s shares helped Bezos to partially offset the loss. In the meantime, Mackenzie debuted in the list at 22nd spot with a net worth of USD 36 billion.

Similarly, Microsoft co-founder Bill Gates also retained the second position in the list with net worth of USD 98 billion which was USD 96.5 billion in 2019.  The French fashion and retail business mogul Bernard Arnault climbed one spot to rank 3rd with net worth of USD 76 billion which remained unchanged from 2019. The legendary American investor Warren Buffet slid one spot to land at 4th place with net worth of USD 67.5 billion which was USD 82.5 billion last year. Oracle Corporation co-founder Larry Elison jumped two places to rest at 5th spot with net worth of USD 59 billion despite a depletion of USD 3.5 billion in his fortune from USD 62.5 billion in 2019. Similarly, Spanish tycoon Amancio Ortega, who owns the luxury fashion brand Zara, remained unchanged at 6th position in the list with net worth of USD 55.1 billion which was USD 62.7 billion last year. Facebook co-founder also saw his fortune dwindled to USD 54.7 billion from USD 62.3 billion in 2019 despite climbing up one position to 7th spot in this year’s list. The heirs of the Walton family, which owns the world’s largest retail corporation Walmart, occupied the last three places of the top 10 list. Jim Walton made it to the 8th position with a net worth of USD 54.6 billion followed by his younger sister Alice Walton (USD 54.4 billion) and elder brother Rob Walton (USD 54.1 billion). Alice also became the world’s richest woman dethroning the French business magnet Françoise Bettencourt Meyers who is in the 15th spot in the list with net worth of USD 48.9 billion.

Forbes in its 34th edition of billionaires list has highlighted the adverse impact of the coronavirus (COVID 19) pandemic on the fortunes of the rich people of the world. According to Forbes, 51 percent of the 2,095 billionaires in the list, have their net worth declined in the past few months. The total net worth of the world’s billionaires amounted to USD 8 trillion, a decline of USD 700 billion from 2019, with 267 individuals, losing their billionaire status who were in the last year’s list.

 

 

 

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