Changpeng Zhao’s Forbes Ranking Drops Significantly from 19th to 167th Among Billionaires
The Forbes Global Billionaires Ranking for 2023 has just been announced, and the results are generating buzz around the world. Bernard Arnault, chairman of LVMH Group, has topped the list with a net worth of $211 billion, followed by Elon Musk, CEO of Tesla, with $180 billion, and Jeff Bezos, founder of Amazon, with $114 billion.
However, the report also highlights the impact of the COVID-19 pandemic on the world’s billionaires, with many experiencing a significant decrease in their net worth. Jeff Bezos lost $57 billion in assets, as Amazon’s stock plummeted by 38%, while Elon Musk also lost $39 billion from a year ago, largely due to the expensive purchase of Twitter.
Forbes’ list of billionaires for 2023 included 2,640 people, which is 28 fewer than last year, with a total asset value of $12.2 trillion. The report noted that half of the billionaires are ‘poorer’ than they were a year ago. The wealthiest 25 people owned $2.1 trillion, and the United States topped the list with 736 billionaires, followed by China with 562. Sadly, 33 of those included in the list of billionaires last year have passed away.
One industry that has seen a significant shift in the rankings is the cryptocurrency industry. Binance’s Changpeng Zhao, who was ranked 19th overall last year with a net worth of $65 billion, has fallen to number 167 with $10.5 billion due to the effects of the crypto winter. Ripple’s Chris Larsen ranked 1120th overall with $2.6 billion, while Coinbase’s Brian Armstrong ranked 1142nd with $2.6 billion.
The report also highlighted the dramatic downfall of FTX co-founder Sam Bankman-Fried, who went from being a cryptocurrency prodigy to a fraudster. In 2022, his net worth reached $26.5 billion, but Forbes currently lists his net worth at just $4 million. Gary Wang, co-founder of SBF and FTX, was also reported to have a net worth of $5.9 billion last year, but he disappeared from the list this year.
Other key figures included in the Forbes Global Billionaires Ranking for 2023 are Uniqlo Chairman Tadashi Yanai and his family at 39th ($32.6 billion), Alibaba’s Jack Ma at 63rd ($23.5 billion), Ray Dalio at 83rd ($19.1 billion), and Samsung Vice Chairman Lee Jae-yong at 268th ($7.9 billion). Celltrion Chairman Seo Jung-jin was ranked 455th with a net worth of $5.6 billion.
Overall, the Forbes Global Billionaires Ranking for 2023 provides an insight into the current state of the world’s wealthiest people and the impact of the pandemic and other external factors on their wealth. The cryptocurrency industry, in particular, has seen a significant shift in its rankings, highlighting the volatility and unpredictability of this emerging sector.
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