Most billionaires are self-made. The total net worth of the ten richest billionaires worldwide was estimated at around 1.2 trillion U.S. dollars in 2021. Jeff Bezos, the richest man in the world, had a fortune of over 189 billion dollars in that year. Second on the list was Elon Musk, founder of Tesla and SpaceX, whose net worth amounted to 182.2 billion U.S. dollars. French business magnate, Bernard Arnault, ranked third with wealth estimated at 157.7 billion dollars.
When taking a closer look at the demographics of billionaires globally, about 88 percent were men in 2019. Only about ten percent of the billionaires worldwide were younger than 50 years old. As of April 2021, Kevin David Lehmann was the youngest billionaire globally. With 18 years old he owned assets worth 3.3 billion U.S. dollars.
The wealth of majority of world billionaires was between one and two billion U.S. dollars in 2019. Only fifteen of them had assets worth more than 50 billion U.S. dollars. On average, around 33 percent of billionaires’ wealth was invested in private holdings. The management of assets of billionaires and other high net worth individuals is often in the hands of private wealth managers.