How billionaires and corporations avoid taxes
Across the U.S., some of the nation’s top earners have a toolbox full of mechanisms to build wealth.
LEARN MOREApril 6, 2023
There are 254 fewer billionaires, according to Forbes’ World’s Billionaires rankings.
Some of the most notable former billionaires are Ye, the rapper formerly known as Kanye West, and Sam Bankman-Fried.
Ye's fortune plummeted last year after he went on antisemitic rants, which led to him losing lucrative endorsement deals. The rapper is now worth about $400 million, down from $2 billion, according to Forbes.
FTX founder Sam Bankman-Fried's fortune took a hit after he was charged with fraud. He's accused of stealing money from customers who had deposits in his cryptocurrency trading platform. Bankman-Fried was previously worth $24 billion, according to Forbes. He's now reportedly worth less than $10 million.
Who are the richest people in the world?
Tesla founder and current Twitter CEO Elon Musk is no longer the richest person in the world. That honor now goes to France's Bernard Arnault. He's the chairman and CEO of LVMH, a luxury products group.
Arnault is currently worth $211 billion, according to Forbes. The publication says his fortune grew by $53 billion last year due to the success of his company.
Musk now sits at No. 2 on the list with a net worth of $181 billion, Forbes reports. Most of his wealth has been generated by Tesla and SpaceX.
Jeff Bezos rounds out the top three richest people in the world. The Amazon founder is reportedly worth $114 billion.
According to Forbes, the world now has a total of 2,640 billionaires. They reportedly have a combined net worth of $12.2 trillion.
