Forbes calculated the fortunes for the 2022 billionaires list using stock prices and currency exchange rates as of March 11, 2022. Net worths can change dramatically within days or even hours.
Amid falling stock markets, Russia's war against Ukraine, and the ongoing Covid-19 pandemic, the collective wealth of the world's billionaires has shrunk by $400 billion since last year, according to Forbes. But not everyone had a difficult year.
Just ask Elon Musk, whose fortune grew by $68 billion from the 2021 list of billionaires to an estimated $219 billion, making him the richest person in the world—his first time at the top of Forbes' annual ranking. Musk's increased wealth comes even after he sold $16 billion worth of Tesla stock at the end of 2021 and paid taxes on his capital gains, a result of a surge in the stock price over the past year. He is the biggest winner, in dollar terms, this year.
The popularity of buying and selling cryptocurrencies partly fueled the rise of the second-largest gainer. Changpeng Zhao, known as CZ, co-founded the cryptocurrency exchange Binance and is worth an estimated $65 billion, or $63.1 billion more than last year. That's a huge jump, but it's partly due to Forbes obtaining new information about CZ's stake in Binance (at least 70%, according to sources, though the company declined to comment), combined with a much higher revenue estimate as Binance's trading volume has surged.
Other big winners range from Indian infrastructure tycoon Gautam Adani to Mexican telecoms magnate Carlos Slim Helú and the co-founders of Google.
Forbes calculated the fortunes for the 2022 billionaires list using stock prices and currency exchange rates as of March 11, 2022. Net worths can change dramatically within days or even hours.
Here are the top 10 billionaires with the biggest gains over the past year:
- Elon MuskNet
worth: $219 billion
Gain since April 2021: $68 billion
Source of wealth: Tesla, SpaceX
Country: United States
The rocket and electric car entrepreneur's wealth grew by $68 billion last year. That followed a $126 billion gain between the 2020 and 2021 world billionaires lists. In early 2022, Musk's fortune briefly topped $300 billion, only to fall back to $219 billion for the 2022 Forbes list. That was still enough to make him the richest person in the world. - Chang Peng Zhao
Net Worth: $65 billion
Gain since April 2021: $63.1 billion
Source of Wealth: Cryptocurrency Exchange
Country: Canada
Known as CZ, Changpeng Zhao is the CEO of Binance, the world's largest cryptocurrency exchange, of which he owns approximately 70%. Zhao's net worth increased last year due to new information about his stake and the exchange's success. Zhao announced in January that Binance plans to spend $200 million to acquire a minority stake in Forbes through a SPAC transaction. - Gautam Adani
Net Worth: $90 billion
Gain since April 2021: $39.5 billion
Source of Wealth: Infrastructure
Country: India
With shares in six publicly traded companies that outperformed India's benchmark index in 2021, Adani's net worth increased by more than $39 billion, making him the 11th richest person in the world and the second richest person in Asia, behind only his fellow Indian Mukesh Ambani. Chairman of the Adani Group, Adani has companies operating in power generation, coal, and real estate. India's largest private port operator, the Adani Group, owns 74% of Mumbai International Airport. - Rodolfo Saadé and family
Net worth: 41.4 billion euros
Gain since April 2021: 30.5 billion euros
Source of wealth: Shipping
Country: France
Saadé's wealth increased due to the surge in demand for the shipping logistics company CMA CGM, a private company in which he and his family hold a 73% stake. The company's increased value makes Saadé the third richest person in France. - Michael Bloomberg
Net Worth: $82 billion
Gain since April 2021: $23 billion
Source of Wealth: Bloomberg
Country: United States
The former New York mayor's net worth has increased by nearly 40% since last year, as estimated revenues from his media and financial information company, Bloomberg LP, have risen. He owns 88%. - Steve Ballmer
Net worth: $91.4 billion
Gain since April 2021: $22.7 billion
Source of wealth: Microsoft
Country: United States
The former Microsoft CEO turned owner of the Los Angeles Clippers saw his wealth grow by a third last year, largely due to a 32% increase in the value of Microsoft stock. The value of his NBA team also increased 17%, to $3.3 billion. - Warren Buffett
Net Worth: $118 billion
Gain since April 2021: $22 billion
Source of Wealth: Berkshire Hathaway
Country: United States
Despite donating approximately $4 billion to the Bill & Melinda Gates Foundation and four other foundations in mid-2021, Buffett's wealth increased by nearly 23% in the past year. His conglomerate, Berkshire Hathaway, reached a market valuation of $700 billion in January and continued to climb. - Larry Page
Net worth: $111 billion
Gain since April 2021: $19.5 billion
Source of wealth: Google
Country: United States
The Google co-founder is the sixth richest person in the world. In 2021, Page sold shares of Alphabet, Google's parent company, for the first time since 2017. The stock rose more than 26% last year. - Carlos Slim Helú
Net worth: $81.2 billion
Gain since April 2021: $18.4 billion
Source of wealth: Telecommunications
Country: Mexico
Mexico's richest person, who has risen and fallen on Forbes' billionaires list for many years, is now the 13th richest person in the world. The billionaire is $18.4 billion richer than last year after a 42% increase in the stock of his Latin American telecommunications company, América Móvil. Slim sold his 10% stake in The New York Times in late 2020, when the shares were trading at more than $40 a share. He had exercised warrants to buy those shares in 2015 for more than $6 each. - Sergey Brin
Net Worth: $107 billion
Gain since April 2021: $18 billion
Source of Wealth: Google
Country: United States
The Google co-founder is funding the development of zero-emission aircraft. Like Larry Page, he began selling Alphabet shares in 2021 after a three-year hiatus. The $18 billion increase in Brin's net worth was driven by the rising value of Alphabet shares and follows a gain of nearly $40 billion between the 2020 and 2021 Forbes lists.
Source: Forbes Magazine
