Forbes’ Billionaire’s List 2022 – Find Out Who Went to the Top and Who Fell Off the List this Year

Every year, Forbes publishes a list of billionaires. Recently, it published its 36th list of people owning assets worth billions. Unfortunately, the number of people dropped from 2,755 billionaires in 2021 to 2,668 billionaires in 2022. The major reason for this drop-off was the war between Ukraine and Russia, which collapsed the world’s stock market and the COVID-19 pandemic, because of which many industries shut down or suffered severe downsizing.

The expelled people from the billionaire’s list are from all sectors of the economy. But most people are from the tech industry. 53 tech giants fell off the list, out of which 32 are from China only. 45 people who got withdrawn from the 2022 list were from the fashion and retail industry, 33 people from the manufacturing industry, 29 people from real estate, and 25 people from the health and finance sector.

Global uncertainties hit China the worst, as 45.29% of the people removed from the list are from China only. 10.45% of the dethroned billionaires are Russians, 10.39% are Americans, and 34.45% of people are from the rest of the world who were pulled out from the Forbes Billionaire list 2022. Here are the people whom nobody thought would fall off Forbes’s Billionaire list for 2022.

Shalom Mackenzie

Shalom is an Israelian national, whose source of income is from sports betting. His income came down from $1.17 billion in 2021 to $900 million in 2022. Makenzie owned an 11% stake in DraftKings, a sports betting firm, and he was also a gambling technology provider for SBtech. He tried to aggressively sell the share but failed to reach the mark. Also, the sports betting industry faced more losses than predicted, because of which Shalom lost a prominent share of his wealth.

RJ Scaringe

RJ Scaringe is the owner of an American electric vehicle company. He made a $23.1 billion company in 2021, out of which $11.2 billion he earned as the owner of a private company, and then held an IPO in November last year, out of which he made $11.9 billion. Unfortunately, the founder and CEO could increase production as expected, which disappointed many analysts, and the share price dropped by 64% in 2022. The total personal wealth of RJ Scaringe dropped from $3.4 billion to less than 700 million.

Whitney Wolfe Herd

She became one of the youngest self-made billionaires in 2021 after she launched her dating app “Bumble” to the public in early 2021. But she was not able to manage her business properly. According to some experts, one reason for the downfall of her business was, that she added paid users at a slower pace than her competition, such as “Tinder”. Also, due to many other speculations, Bumble’s share price fell by 75% after an IPO. Because of all these reasons, her net worth came down from a staggering $1.3 billion to less than $700 million.

Will Wei Cheng

Will Wei is the founder of Didi, a ride-hailing service. He threw Uber out of China after winning the price war against it. However, the Chinese government put a ban on Didi Application due to some cyber security concerns. This ban, drastically reduced the share value of Didi by 85% and Will Wei lost his wealth from $1.2 billion to less than $300 million.

Despite global economic crises and uncertain conditions, where many people have lost a huge amount of wealth, some business giants managed to maintain their existence on Forbes’s billionaire’s list in 2022.

Elon Musk

Elon Musk, who is the founder of electric car company Tesla and rocket company SpaceX, also acquired a 9.2% stake in Twitter. Tesla’s share price increased by 30% and the net value of SpaceX was set to $74 million. Providing him with assets worth $219 billion, and making him first on Forbes’ list.

Bill Gates

Bill Gates, the founder of Microsoft, owns a diversified portfolio of stakes in different businesses including investing in the carbon industry, Canadian National Railway, auto nation, and some of the largest farmland in the US. He holds a wealth of $129 billion, making him the fourth richest person on earth.

Jeff Bezos

Jeff Bezos, the founder of Amazon, fell to the second position after maintaining the 1st position for four years on Forbes’s billionaire’s list. His net worth of assets got reduced after the 3% drop in Amazon’s share price and Jeff Bezos donated $6 billion to charity. His current net worth value of assets is $171 billion.

Changing economic situations and technological developments have always proved to be beneficial for some and disastrous for others. To maintain business value and assets, owners should be flexible and foresighted enough to adapt to changes quickly.