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CEOWORLD magazine - Latest - Money and Wealth - The Exclusive $100 Billion Club (And How They Made Their Fortune)

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The Exclusive $100 Billion Club (And How They Made Their Fortune)

Elon Musk

The centibillionaires club: The CEOWORLD magazine shows that the world’s most exclusive $100 Billion Club is almost entirely an American affair. Of the ten people with a net worth of over $100 billion as of Aug. 7, 2023, nine are American. And it is no surprise that the U.S. tech billionaires dominate the global $100 billion club.

Elon Musk is the richest, with over $232 billion in wealth, followed by Bernard Arnault, Jeff Bezos, Bill Gates, and Larry Ellison.

In comparison, the global 1% are a group of around 80 million richest people, while the global 0.1% still comprises 8 million individuals – making the $100 billion club the equivalent of the global 0.0000001%.

Although Bill Gates did have a net worth of over $100 billion in 1999 for a brief period, the term centibillionaire did not gain currency until the flamboyant founder of Amazon, Jeff Bezos, increased his wealth to $112 billion in 2017. It is since then that he was referred to as the world’s first centibillionaire.

While 2023 is a good year for the rich, the world’s ten wealthiest people add more than $414 billion to their combined fortunes. Here’s everyone who is a member of the exclusive $100 billion club.

  1. Elon Musk, the richest person in the world, has an estimated net worth of $232 billion.
    – Up almost $95.3 billion this year
    – Musk made his fortune by co-founding six companies, including Tesla and SpaceX.
  2. Bernard Arnault and his family have a reported combined net worth of $193 billion.
    – Up almost $30.5 billion this year
    Bernard Arnault is chairperson and CEO of LVMH, the 75-brand strong cosmetics and fashion empire. Companies under him include Tiffany & Co, Sephora, and Louis Vuitton.
  3. Jeff Bezos’s net worth is reportedly $164 billion.
    – Up almost $57 billion this year
    Bezos got rich through Amazon, which he founded out of his garage in 1994. Today, he owns just about 10% of the company.
  4. Based in Medina, Washington, Bill Gates is reportedly worth $133 billion.
    – Up almost $24 billion this year
    He famously made his fortune through Microsoft, which he co-founded in 1975. He stepped down from the board in 2020 but retains ownership of approximately 1.3% of the company’s shares.
  5. Larry Ellison is reportedly worth $129 billion.
    – Up almost $37.3 billion this year
    Ellison cofounded Oracle, a large software company, in 1977. Today, he owns approximately 35% of it, and he serves as CTO and chairperson.
  6. Warren Buffett, aka the “Oracle of Omaha,” has a reported net worth of $118 billion.
    – Up almost $10.3 billion this year
    Buffett made his fortune by investing in Berkshire Hathaway, a multinational conglomerate that encompasses dozens of smaller companies. Its wide-ranging portfolio includes Geico and Dairy Queen.
  7. Larry Page, who’s also based in Palo Alto, has a reported $116 billion net worth.
    – Up almost $33.2 billion this year
    He made his money through Google, which he co-founded in 1998. He currently serves as a board member and controlling shareholder for Alphabet, Google’s parent firm.
  8. Hunts Point, Washington-based billionaire Steve Ballmer is reportedly worth $114 billion.
    – Up almost $28.3 billion this year
    His wealth comes from his work with Microsoft. In 1980, he joined the team as the 30th employee. Then, from 2000–2014, he served as CEO. After retiring, he spent $2 billion to purchase the Los Angeles Clippers.
  9. Palo Alto-based billionaire Mark Zuckerberg’s net worth is about $113 billion.
    – Up almost $67.2 billion this year
    His wealth famously comes from Meta Platforms, which began as Facebook, the website he cofounded with fellow Harvard classmates at 19. It now also includes Instagram and Whatsapp. Currently, he holds around 13% of Meta’s stock.
  10. Sergey Brin, who lives in Los Altos, California, is reportedly worth $110 billion.
    – Up almost $30.9 billion this year
    He co-founded Google with Larry Page, his fellow Stanford PhD student, in 1998. Currently, he’s also a board member and controlling shareholder for Alphabet.

Exclusive $100 Billion Club

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CEOWORLD magazine - Latest - Money and Wealth - The Exclusive $100 Billion Club (And How They Made Their Fortune)
Anna Papadopoulos
Anna Papadopoulos is a senior money, wealth, and asset management reporter at CEOWORLD magazine, covering consumer issues, investing and financial communities + author of the CEOWORLD magazine newsletter, writing about money with an enthusiasm unknown to mankind. You can follow CEOWORLD magazine on Twitter, Facebook, Instagram, or connect on LinkedIn for musings on money, wealth, asset management, millionaires, and billionaires. Email her at info@ceoworld.biz.