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China lockdown, chip shortage hit Nissan profits



Nissan warned it was facing a number of headwinds
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Japanese car giant Nissan said on Thursday that net profit sank nearly 60 percent in the three months to June as pressures including a lockdown in Shanghai and chip shortages weighed on business.

The firm, which in May reported a positive full-year net profit for the first time in three years, said it logged a net profit of 47.1 billion yen ($347 million), down 58.9 percent on-year. 

The slump was also the result of a one-time boost in the first quarter of last financial year when Nissan unloaded Daimler sales.

But the firm said it was facing a range of headwinds.

“During the first quarter, the extremely challenging business environment put pressure on earnings,” Nissan said in a statement.

“Production was constrained by the Shanghai lockdown caused by spread of the new coronavirus, and semiconductor supply shortages, while external factors such as soaring raw material prices and logistics costs also intensified their impact.”

“The pandemic understandably remains a priority challenge,” chief operating officer Ashwani Gupta told reporters.

“At the same time, we experienced tailwinds with favourable foreign exchange rates,” he added, referring to the yen’s recent slump against the dollar, which helps inflate overseas profits for Japanese firms.

The firm left its full-year forecast unchanged, projecting a net profit of 150 billion yen.

That would be a 30.4 percent slump, however, from the previous year’s 215.5 billion yen.

Operating profit was down 14.2 percent to 64.9 billion yen, but that beat analyst estimates, according to Bloomberg.

The firm was on a rollercoaster even before the disruption caused by the pandemic and the conflict in Ukraine.

It had been struggling with increasing sales costs, and is currently implementing a plan involving slashing models, cutting costs and restructuring operations.

“Nissan is making progress after an excessive expansion policy in North America in the past that was a factor causing it to lose money,” said Satoru Takada, auto analyst at TIW, a Tokyo-based research and consulting firm.

“Profits declined year-on-year relative to the robust rebound in last year’s April-June quarter, when there was a recovery from the pandemic’s impact and cost-cutting efforts,” Takada told AFP ahead of the earnings report.

“Nissan’s challenge is how to minimise the impact of the chip shortage and sell attractive new cars, including those recently released,” he said.

The automaker has also been buffeted by the saga surrounding its former chief Carlos Ghosn.

The one-time auto tycoon was detained in Japan in 2018, accused of financial misconduct charges that he denies, but jumped bail and fled to Lebanon the following year.

A Tokyo court in March handed a six-month suspended sentence to former Nissan executive Greg Kelly over allegations that he helped his boss attempt to conceal income.  

The company had pleaded guilty in a separate case, and was ordered to pay a fine of 200 million yen.

In April, French authorities issued an international arrest warrant for Ghosn, who has lived in Lebanon since his daring getaway from Japan, on allegations including corruption, misuse of company assets and money laundering. 

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WeaveSphere: 5 conference highlights

The WeaveSphere tech conference wove together ideas about AI, FinTech, STEM education, innovation in Canada, and more.



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For three days this November, innovation, collaboration, and a whole lot of big ideas were shared among “Weavers” during the WeaveSphere tech conference in Toronto.

“Today is an opportunity for greater connection between the scientific and tech industry, and academia,” said Marcellus Mindel of IBM Canada, opening the conference. With innovation the event’s core, Mindel added: “let’s define innovation, thinking of it as reframing that implements better outcomes.”

While lots happened over three days, here are five highlights and takeaways from the event:

1. Thought-provoking keynotes had attendees thinking big

Each day of WeaveSphere kicked off with a keynote, where three speakers brought their insightful ideas to attendees.

Gillian Hadfield shared ideas about AI and regulation

On Day 1, Gillian Hadfield, Professor of Law and director of the Schwartz Reisman Institute for Technology and Society at the University of Toronto, explained where we are today when it comes to regulating artificial intelligence (AI) — and where we need to go next. 

While AI makes machines intelligent, Hadfield argued that it cannot, by definition, produce intelligent behaviour if it isn’t functioning appropriately and ethically. Machine learning is not the same as standard programming, since machines write the rules. As a result, machines can start solving problems in ways we don’t want them to, resulting in regulatory challenges. 

How to solve this? Hadfield presented two solutions:

  1. Establish compensation for harm
  2. Design incentives for meeting good and safe behaviour

Dr. William Barry discussed ethics with an AI co-presenter

On Day 2, professor, AI ethicist, and futurist Dr. William Barry talked about a particular problem: what ethical questions might arise when you program a robot? 

For starters, how do you determine what information to include or not? Where is the appropriate line? 

As a professor, Dr. Barry has been working with robots as teaching assistants in his classroom since 2015, and brought a digital version of Maria Bot (one of his AI assistants) to interact with the audience.

As Dr. Barry explained, he is very strategic when choosing the information from which his assistants learn. 

One place Maria won’t get access to? Twitter, says Dr. Barry, highlighting it’s too much of a risk for an “AI benign” to get access to misinformation. This would distort the ethical perspective that Maria is learning, he said. 

While he has programmed her to weed out and to not learn from toxic content — like racism and misogyny — Dr. Barry does work at exposing his AI beings to a wide range of diverse thought and lived experiences. In the end, how ethical an AI being is, is in the hands of the human controlling what they learn, he argued. As a result, they’ll ultimately be biased as a result of the specific data sets we provide for them. 

Marcel Mitran discussed technology for good

WeaveSphere’s Day 3 keynote took a slight turn away from AI. 

IBM Fellow, IBM Master Inventor, and CTO for Cloud Platform for zSystems and LinuxONE, Marcel Mitran took to the main stage for a keynote on responsible computing. At the heart of his talk was the argument that technologists need to take a step back and look at what’s being done to keep the world safe. 

For example, the opportunity for error and bias in the role of facial recognition in public safety, and the fact that our digital footprints — both on a personal level and for enterprise — have grown significantly even in the last year.

As Mitran explained, responsible computing is a systemic, holistic approach addressing current and future computing challenges like sustainability, ethics, and professionalism. It advances the “quadruple bottom line” of people, planet, prosperity, and participation. 

2. Insightful sessions had attendees thinking deep

Photo courtesy WeaveSphere

FinTech, cryptocurrency, AI, digital economies, Canada’s innovation landscape — there was a large cross-section of topics covered across a variety of workshops, paper presentation, and panel discussions. 

Some highlights include:

Chhavi Singh, co-founder of Flyte, asked the question: have you considered using AI to coach your sales staff? Elaborating on the opportunity AI presents to increase sales performance, Singh explained how AI can be used to help understand customer challenges and handle objections and concerns. 

COO of wealth management platform OneVest, Jakob Pizzera, outlined the three phases of FinTech. The first (1.0) was in-house sites for basic online banking. Version 2.0 was the “unbundling” of financial services, and the rise of standalone businesses. The last few years has brought FinTech 3.0, with embedded finance — for example making a purchase through Instagram.

WeaveSphere conference chair and R&D specialist Vio Onut answered the question of why we need to care about cyber security. For starters, the potentially very large costs to your organization, and because the massive skills gap of privacy and security experts has created vulnerabilities. 

Digital strategist Matt Everson explored what can go with emerging technologies like Web3 and the metaverse. Everson said developers should just start building and drawing on video game virtual markets as a model. He used popular online game EVE Online as an example of how virtual economy design can be translated to other markets.

Lijia Hou, Blockchain Systems Engineer with Draft Kings, explained that three key problems still exist when it comes to blockchain technology. First, investors want to understand how — in a volatile market — to mitigate risk. Second, developers from the traditional software side need a mindset shift when it comes to decentralization. And finally, the tools of decentralization are used differently, and this is not always evident for those unfamiliar with Web3.

3. There was a LOT of interest in STEM education

As part of WeaveSphere’s Education Day slate of programming, hundreds of high school and university students had the opportunity to workshop real-life problems from both school and work — all under the guidance of IBM’s Design Thinking experts

Photo courtesy WeaveSphere

This meeting of next-generation tech talent collaboratively explored Enterprise Design Thinking strategies like As-Is Scenario Mapping, Empathy Mapping, Hills (positioning statements), and Hopes and Fears. This approach to problem-solving works by framing the issue at hand in a human-centric way, centering the end-user in all decision-making. 

For Education Day, the problem at hand was helping fourth-year university students find their first job. 

Photo courtesy WeaveSphere

4. There were loads of networking and learning opportunities

One of the best parts of any conference is the opportunity to network and learn from fellow attendees.

In the conference’s Innovation Valley section, event sponsors were on-hand to discuss everything from their latest technologies to job opportunities, plus several graduate students were also there to present their research.

Since WeaveSphere is a “meeting of the minds” between tech professionals and students, many undergrads from schools like York University and Mohawk College came to the conference full of questions, ready to absorb everything. 

5. WeaveSphere celebrated top tech talent

A big part of WeaveSphere was a celebration of some of the best tech minds in Canada. 

During a gala evening at the end of Day 2, the 2022 Developer 30 Under 30 and Tech Titans were awarded to the best of the best among young developers and digital transformation leaders in Canada. 

The winners were:

Developer 30 Under 30 winners

Photo courtesy WeaveSphere
  • Alexander Newman
  • Anakha Chellakudam
  • Anthony Langford
  • Arshdeep Saini
  • Aryaman Rastogi
  • Bohdan Senyshyn
  • Charlie Mackie
  • Charmi Chokshi
  • Colin Lee
  • Daniel Marantz
  • Francisco Hodge 
  • Hassan Djirdeh
  • Jerry Fengwei Zhang
  • Julia Paglia
  • Karandeep Bhardwaj
  • Kathryn Kodama
  • Khushbu Patel
  • Lianne Lardizabal
  • Lucas Giancola
  • Mathew Mozaffari
  • Maz Mandi
  • Oleksandr Kostrikov
  • Rishab Kumar
  • Samantha Lauer
  • Sarah Syed
  • Stan Petley
  • Tanmay Bakshi
  • Tim Romanski
  • Xiaole Zeng
  • Yash Kapadia

Tech Titans winners

Photo courtesy WeaveSphere
  • Andrew Dolinski
  • Ashish Agrawal
  • Chhavi Singh
  • Chris Dolinski
  • Dean Skurka
  • Demetrius Tsafaridis
  • Fay Arjomandi
  • Harish Pandian
  • Harpreet Gill
  • Iman Bashir
  • James Stewart
  • Len Covello
  • Manav Gupta
  • Marcel Mitran
  • Michelle Joliat
  • Dr. Mohamad Sawwaf
  • Omar A. Butt
  • Peter Zwicker
  • Ryan McDonald
  • Dr. William Cherniak

Finally, as WeaveSphere came to a close, the Pitch Stadium opened, hearing from a wide variety of startups. 

They came, they pitched, and in the end, Iman Bashir and Nicole Lytle of Craftly.AI, a copywriting assistant that uses AI to generate original content, took home the $50,000 prize to help grow their business.

Photo courtesy WeaveSphere

WeaveSphere was a uniquely collaborative, innovation-focused conference filled with engaging workshops, presentations, and networking opportunities.

DX Journal is an official media partner for WeaveSphere. Check out our series of articles from the lead-up to WeaveSphere.

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Richest people in the world




To learn about the wealthiest people in the world, Stacker compiled net worth data from Forbes' Billionaires List as of Nov. 9, 2022.
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Elon Musk, the co-founder of car and sustainable energy company Tesla; Changpeng Zhao, the co-founder of the cryptocurrency exchange Binance; Donald Bren, the majority stakeholder of real estate giant The Irvine Company—these are all among the top 100 richest people in the world. They come from different places, have different stories, and their wealth is a result of different factors, just like so many others who are in this group of the world’s wealthiest.

To learn about the wealthiest people in the world, Stacker compiled net worth data from Forbes’ Billionaires List as of Nov. 9, 2022.

Many of the people on this list used their smarts and creativity to build giant technology empires, invent sophisticated online tools, transform tiny businesses into global conglomerates, expand a single shop into a global retail chain, or turn a small investment into a fortune. Others were handed their wealth by birth, given massive unearned holdings in manufacturing, luxury goods, shipping lines, tobacco, chocolates, and cheese production.

Among the top 100 richest, a noticeable number made their fortunes in China, via commercial real estate, cutting-edge pharmaceuticals, e-commerce, vats of soy sauce, or pig breeding. Others played their cards right in high finance with prescient investments and lucrative hedge funds, while still others pulled their wealth from the earth, extracting oil, gas, gold, and nickel.

It’s common for the richest people in the world to be reclusive, shuttling from one luxurious home to another by private jet, protected by walls of security and windows of dark tinted glass. But others bask in the spotlight, looking for their next high-profile conquest or sharing lessons from their experiences with avid audiences.

Keep reading to learn more about the richest people in the world and how they made their fortunes.

You may also like: Highest paying jobs that only require a 2-year degree

Daniel Gilbert speaks at event.

Jason Miller // Getty Images

#100. Daniel Gilbert

– Net worth: $15.6 billion
– Source of wealth: Quicken Loans
– Age: 60
– Country/territory: United States

At age 22, Dan Gilbert was a co-founder of Quicken Loans, which became a leader in the online mortgage lending business. Gilbert has also invested heavily in rehabilitating downtown Detroit with buildings and jobs, and he owns professional basketball’s Cleveland Cavaliers. He suffered a serious stroke in 2019.

Peter Woo speaks at event.

South China Morning Post // Getty Images

#99. Peter Woo

– Net worth: $15.7 billion
– Source of wealth: real estate
– Age: 76
– Country/territory: Hong Kong

Peter Woo chaired the property developer Wheelock and Co. and its subsidiary Wharf Holdings until he stepped down in 2015. Wheelock and Wharf have holdings in telecoms, ports, and retail. Woo attended the University of Cincinnati and Columbia University then started his career in banking in New York in 1972. He married Bessie Pao, the daughter of Hong Kong shipping magnate Y.K. Pao, and joined her family business in 1975.

Eric Schmidt speaks at event.

Sean Gallup // Getty Images

#98. Eric Schmidt

– Net worth: $15.8 billion
– Source of wealth: Google
– Age: 67
– Country/territory: United States

Eric Schmidt was chief executive officer and chairman of Google from 2001 to 2011, overseeing its rise to becoming a tech powerhouse. In 2017 he co-founded Schmidt Futures to support scientific and technological innovation. In August 2020, Schmidt started a podcast series, “Reimagine with Eric Schmidt,” to look at challenges for business, government, science, and technology in the wake of the global pandemic.

Jerry Jones at sporting event.

J. Conrad Williams Jr./Newsday RM via Getty Images

#97. Jerry Jones

– Net worth: $15.9 billion
– Source of wealth: Dallas Cowboys
– Age: 80
– Country/territory: United States

After building up his wealth through the oil and gas industry in Texas, Jerry Jones bought the Dallas Cowboys, the NFL’s most valuable franchise, in 1989 for $150 million. Jones, who played football in college, restructured the team after buying it—after which the team won three Super Bowl games, most recently in 1996. In addition to having bought this team, Jones owns the majority—78%—of Comstock Resources as of 2022, according to the proxy statement from the company, which drills for natural gas. He also has invested in Papa John’s franchises, hospitality management, and real estate.

Microphones on podium.

FMonkey Photo // Shutterstock

#96. Robert Pera

– Net worth: $16.1 billion
– Source of wealth: wireless networking gear
– Age: 44
– Country/territory: United States

Robert Pera, the son of a Levi Strauss denim executive, launched his startup Ubiquiti Networks at age 27 in San Jose, California. The wireless data communications products company was a hit and went public in 2011. Pera is now a controlling owner of the Memphis Grizzlies professional basketball team and has bought up luxury properties in New York, Seattle, Miami Beach, and elsewhere.

Emmanuel Besnier seated at desk.


#95. Emmanuel Besnier

– Net worth: $16.2 billion
– Source of wealth: cheese
– Age: 52
– Country/territory: France

Emmanuel Besnier and his family own Groupe Lactalis, a French dairy manufacturer that is the largest maker of cheese in the world and also sells milk, yogurt, butter, cream, chocolate, and desserts. The company was founded by his grandfather in 1933 as a producer of Camembert and expanded under his father. Besnier took over after his father’s death in 2000 and undertook several acquisitions to make Lactalis the third-largest dairy group in the world. He is frequently involved in pricing disputes with French dairy farmers.

Portrait of Dilip Shanghvi.

Soumik Kar/The The India Today Group via Getty Images

#94. Dilip Shanghvi

– Net worth: $16.2 billion
– Source of wealth: pharmaceuticals
– Age: 67
– Country/territory: India

Born in 1955 in Amreli, India, and raised in the city of Kolkata, Dilip Shanghvi founded Sun Pharmaceutical Industries after studying commerce at the University of Calcutta. As managing director of the company, Shanghvi helped in making Sun Pharma successful. In 1994, he took the company public, which led to a rapid expansion, acquiring more than 12 brands and companies between 1999 and 2012. He also has been a personal investor—including in renewable energy.

Rupert Murdoch.

Jason Reed // Getty Images

#93. Rupert Murdoch and family

– Net worth: $16.3 billion
– Source of wealth: newspapers, TV network
– Age: 91
– Country/territory: United States

Australian-born Rupert Murdoch founded the global media company News Corp in 1980. He bought and sold an array of media outlets in the 1970s, 1980s, and 1990s, and today News Corp owns the New York Post, The Times of London, Wall Street Journal publisher Dow Jones, and Fox News. He is married to his fourth wife, former supermodel Jerry Hall, the ex-wife of Rolling Stones frontman Mick Jagger.

John Menard Jr at Grand Prix of Indianapolis

Khris Hale / Icon Sportswire // Getty Images

#92. John Menard Jr.

– Net worth: $16.7 billion
– Source of wealth: home improvement stores
– Age: 82
– Country/territory: United States

Born in 1940 in Wisconsin, John Menard Jr. founded the home improvement chain Menards in 1972. Since then, this chain has continued to expand, so it now has more than 262 stores and is the third-largest home improvement retailer in the U.S., with an estimated $13 billion in annual sales.

Aldi sign in front of a store.

Ralph Orlowski // Getty Images

#91. Theo Albrecht Jr. and family

– Net worth: $17.1 billion
– Source of wealth: Aldi, Trader Joe’s
– Age: 71
– Country/territory: Germany

Theo Albrecht Jr. owes the beginnings of his fortune to his father, Theo Albrecht Sr., and his uncle, Karl Albrecht, who built a discount grocery store empire in Germany after World War II. His father also bought U.S. grocery chain Trader Joe’s in 1971. Albrecht Jr. shares his inheritance with the heirs of his brother, Berthold, who died in 2012. One of those heirs, Berthold’s son Nicolay Albrecht, has accused his mother and three sisters of embezzling money from the family trust, and the case is being argued in the German courts.

Savitri Jindal seated at desk.

Rajkumar/Mint via Getty Images

#90. Savitri Jindal and family

– Net worth: $17.1 billion
– Source of wealth: steel
– Age: 72
– Country/territory: India

Born in 1950, Savitri Jindal married the founder of the power and steel conglomerate Jindal Group, O.P. Jindal, in 1965. After her husband died suddenly in a 2005 helicopter crash, Jindal took over the Jindal Group. Along with her sons—Naveen, Ratan, Sajjan, and Prithvi—Jindal inherited a stake in the conglomerate. She also inherited the political constituency of her late husband, so she is a legislator in the state of Haryana in northern India. As a legislator, she has continued to work on pursuing her late husband’s social welfare goals, including the promotion of the environment, health care, and education.

Li Shufu at press conference.

VCG via Getty Images

#89. Li Shufu

– Net worth: $17.3 billion
– Source of wealth: automobiles
– Age: 59
– Country/territory: China

After studying engineering, Li Shufu founded Geely in 1986, as a company selling refrigerator parts. Geely expanded over the years, beginning the production of motorcycles in 1996 and becoming a private carmaker a year later. In 2010, Geely bought Volvo, putting Shufu in headlines around the world.

Changpeng Zhao speaks at conference.

Horacio Villalobos#Corbis/Getty Images

#88. Changpeng Zhao

– Net worth: $17.4 billion
– Source of wealth: cryptocurrency exchange
– Age: 45
– Country/territory: Canada

Changpeng Zhao, the richest person in the cryptocurrency industry, founded Binance, a cryptocurrency exchange, in 2017. By 2021, Binance handled more than two-thirds of the total trading volume of all centralized cryptocurrency exchanges.

Donald Bren photographed at company headquarters.

Jay L. Clendenin/Los Angeles Times via Getty Images

#87. Donald Bren

– Net worth: $17.4 billion
– Source of wealth: real estate
– Age: 90
– Country/territory: United States

Born in California in 1932, Donald Bren started his career by spending some time building homes and a planned community. After getting this industry experience, Bren was among a group, including other investors and one relative, who bought a stake of 34% of The Irvine Company, a landowner and real estate development firm. When, in the early part of the ’80s, the housing market in the U.S. slowed down, Bren began to buy out his partners. In 1983, he became The Irvine Company’s majority shareholder and chairman—and, in 1996, he became its sole owner. In addition to his business pursuits, Bren has been involved in philanthropy, improving education and preserving land in California.

Steven A. Cohen attends Mets event.

Jim McIsaac // Getty Images

#86. Steve Cohen

– Net worth: $17.5 billion
– Source of wealth: hedge funds
– Age: 66
– Country/territory: United States

Steve Cohen, an American hedge fund manager and investor, founded the hedge fund SAC Capital Advisors in 1992. SAC was successful in large part because its strategy was to pursue a high volume of aggressive trades. However, in 2014, SAC Capital pled guilty to the charge of insider trading. Since then, Cohen has founded another hedge fund, Point72 Asset Management.

HCA Healthcare building exterior.

JHVEPhoto // Shutterstock

#85. Thomas Frist Jr. and family

– Net worth: $17.8 billion
– Source of wealth: hospitals
– Age: 84
– Country/territory: United States

Born in Nashville in 1938, Thomas Frist Jr. founded the Hospital Corporation of America in 1968 with his father, as well as Jack Massey, a venture capitalist and entrepreneur. This corporation has expanded over the years and now has almost 200 hospitals, according to the HCA website. Frist isn’t an officer of the corporation, but his sons are board members.

Wang Wenyin speaks at event.

Xiao Xiong/Southern Daily/Visual China Group via Getty Images

#84. Wang Wenyin

– Net worth: $18.2 billion
– Source of wealth: mining, copper products
– Age: 54
– Country/territory: China

Wang Wenyin started a small business that sold power cords in rural China in 1994—and, since then, this business has grown into Amer International Group, a cable and copper company that employs almost 15,000 people.

Alexey Mordashov attends event.

Mikhail Svetlov // Getty Images

#83. Alexey Mordashov

– Net worth: $18.4 billion
– Source of wealth: steel, investments
– Age: 57
– Country/territory: Russia

Until 2022, when the EU and U.S. imposed sanctions on various Russian oligarchs as a reaction to the war in Ukraine, Alexey Mordashov was the wealthiest man in his home country of Russia. He began his life in Cherepovets, a city located 300 miles from Moscow, where his parents worked as mill workers. Since then, he has made his wealth as the chief executive of Severstal, the country’s largest mining and steel company.

David Tepper at Carolina Panthers game.

Grant Halverson // Getty Images

#82. David Tepper

– Net worth: $18.5 billion
– Source of wealth: hedge funds
– Age: 65
– Country/territory: United States

David Tepper, a hedge fund manager and investor, began his finance career by working at Goldman Sachs, Republic Steel, and Equibank. In 1993, he struck out on his own and, with Jack Walton, founded Appaloosa Management L.P. Between 1994 and 2022, the value of the fund expanded from $300 million to $3.82 billion. Tepper is also a philanthropist who has focused on improving education and helping people in Pennsylvania, North Carolina, South Carolina, and New Jersey meet their basic needs—and he has also supported charities such as UNICEF and Feeding America.

Qin Yinglin at event.

Visual China Group via Getty Images

#81. Qin Yinglin

– Net worth: $18.5 billion
– Source of wealth: pig breeding
– Age: 57
– Country/territory: China

After studying animal husbandry at Henan Agricultural University, Qin Yinglin began his career at an enterprise owned by the government. He didn’t enjoy this job, so he quit and started his own business, Muyuan Foodstuff. This pig breeding business eventually grew into the business it is today, with revenues over $12 billion in 2021.

Carl Icahn participates in a New York Times panel discussion.

Neilson Barnard // Getty Images for New York Times

#80. Carl Icahn

– Net worth: $18.6 billion
– Source of wealth: investments
– Age: 86
– Country/territory: United States

Before starting his finance career, Carl Icahn studied philosophy and medicine, and, after dropping out of medical school, joined the U.S. Army. After he was discharged, he worked in the finance industry—and, in 1968, founded his own brokerage firm, Icahn and Company. Over time, he became one of the most influential people on Wall Street. Icahn was one of the inspirations for Gordon Gekko’s character in the movie “Wall Street.”

D Mart shopping mall exterior.

Dhananjay Bhagat // Shutterstock

#79. Radhakishan Damani

– Net worth: $18.6 billion
– Source of wealth: retail, investments
– Age: 67
– Country/territory: India

Radhakishan Damani grew up in circumstances far different than those he lives in now: He was raised in a one-room apartment in a tenement block in Mumbai. He went to commerce college, dropped out, became a trader and broker in the stock market in the 1980s, and then, in 2000, started his own business. This business was D-Mart, a retail business—which, since the first one opened in 2002, has expanded to more than 200 stores across nearly 50 cities in India.

Leonard Lauder smiles at event.

Patrick McMullan // Getty Images

#78. Leonard Lauder

– Net worth: $18.8 billion
– Source of wealth: Estee Lauder
– Age: 89
– Country/territory: United States

Leonard Lauder is chairman emeritus of Estée Lauder, the cosmetics company started by his mother in 1946. As chief executive, he oversaw the launch of brands such as Clinique and the acquisition of brands including Bobbi Brown and Aveda. He also is chairman emeritus of the Whitney Museum of American Art, which named its new downtown Manhattan building after him. His first wife Evelyn died in 2011, and in 2015 he married Judy Glickman, a widely recognized photographer. Lauder’s memoir, “The Company I Keep: My Life in Beauty,” was published in November 2020.

Aerial shot of mine.


#77. Iris Fontbona and family

– Net worth: $18.9 billion
– Source of wealth: mining
– Age: 79
– Country/territory: Chile

The wealthiest woman in Latin America, Iris Fontbona took control of her husband Andrónico Luksic Abaroa’s businesses when he died in 2005. She and her three sons own the majority share of copper mining company Antofagasta, the world’s largest copper mining company. The family also owns Quiñenco, which controls Banco de Chile, copper products manufacturer Madeco, Chilean brewing giant Compañía de Cervecerías Unidas, and the CSAV shipping company. Fontbona is extremely private and is known to refuse all interview requests. The family runs a charitable foundation, Fundación Familia Luksic, supporting various efforts throughout Chile.

Ray Dalio attends event.

J. Countess // Getty Images

#76. Ray Dalio

– Net worth: $19.1 billion
– Source of wealth: hedge funds
– Age: 73
– Country/territory: United States

Ray Dalio founded Bridgewater Associates in 1975 in New York, and it has since become the largest hedge fund in the world. Dalio has written several books that lay out his principles on work, goals, and leadership. He also is a practitioner and advocate of Transcendental Meditation, and meditation courses are available to Bridgewater employees.

Wang Wei smiles at event.

VCG // Getty Images

#75. Wang Wei

– Net worth: $19.6 billion
– Source of wealth: package delivery, self made
– Age: 52
– Country/territory: China

Wang Wei’s wealth lies in his share of more than 60% of SF Express, a package delivery service in China. Wang started his delivery career in 1993, illegally transporting packages in a minivan between Hong Kong and the mainland at a time when the Chinese postal service controlled all deliveries. The company went public on the Shenzhen Stock Exchange in 2017. In 2018, it got the first license in China to begin drone deliveries.

He Xiangjian attends a signing ceremony.

Chen Gang // VCG via Getty Images

#74. He Xiangjian and family

– Net worth: $19.6 billion
– Source of wealth: home appliances, self made
– Age: 80
– Country/territory: China

When he was 26 years old, He Xianjgijan took the equivalent of just over $700 and started a small workshop producing lids for bottles, employing 23 residents of the town he grew up in, Beijiao. Over the years, this company, Midea, has expanded into an international company selling various electrical home appliances. In 2019, Midea’s revenue was $39.5 billion.

Wang Chuanfu delivers a speech.

VCG via Getty Images

#73. Wang Chuanfu

– Net worth: $19.8 billion
– Source of wealth: batteries, automobiles, self made
– Age: 56
– Country/territory: China

Around two decades ago, Wang Chuanfu created and followed through with a plan of buying a government-owned car manufacturer that was failing so that he could start manufacturing electric vehicles. This company, BYD, is now so successful that its sales of battery-powered cars rivals Tesla. When the COVID-19 pandemic began, Chuanfu was among the first people in the business world who pivoted their businesses to meet the demand for masks—at one point producing around 5 million of them every day.

William Lei Ding speaks at event.

VCG // Getty Images

#72. William Lei Ding

– Net worth: $20 billion
– Source of wealth: online games, self made
– Age: 51
– Country/territory: China

William Lei Ding, the chief executive of online and mobile games giant NetEase, became China’s first internet billionaire in 2003. Ding founded NetEase in 1997 with three employees, and the company moved into email domains, search engines, and games. NetEase also got involved in comics, forging a collaborative deal with Marvel Comics in 2017.

Stefan Quandt portrait with arms folded.

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#71. Stefan Quandt

– Net worth: $20.3 billion
– Source of wealth: BMW
– Age: 56
– Country/territory: Germany

Stefan Quandt is the largest shareholder of German luxury carmaker BMW—a fortune he inherited from his father, Herbert Quandt, who rescued the company from bankruptcy and takeover in 1959. The younger Quandt is a deputy chairperson on BMW’s board and has separate business ventures in homeopathic medicine, logistics, and solar energy.

Jack Ma waves.

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#70. Jack Ma

– Net worth: $20.7 billion
– Source of wealth: e-commerce, self made
– Age: 58
– Country/territory: China

Jack Ma made his fortune with Alibaba Group, China’s giant e-commerce business. Its record-setting initial public offering in 2014 raised $25 billion. Before starting his internet business, he was a college English teacher. He is a major supporter of efforts to protect the environment, and left Alibaba’s chairmanship in 2019 to concentrate on philanthropy.

Gennady Timchenko.

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#69. Gennady Timchenko

– Net worth: $20.8 billion
– Source of wealth: oil, gas, self made
– Age: 70
– Country/territory: Russia

The wealth of Gennady Timchenko and his investment company Volga Group lies in his holdings in Novatek, a giant gas company, and Sibur Holding, a petrochemical manufacturer. He also holds a large stake in a $27 billion oil production project in the Russian Arctic. In his free time, he heads KHL, Russia’s national hockey league, and is president of SKA Saint-Petersburg Hockey Club. Born in the Armenian Soviet Socialist Republic, he lives in Geneva and counts himself a close ally of Russian President Vladimir Putin.

Abigail Johnson speaks at an event.

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#68. Abigail Johnson

– Net worth: $20.9 billion
– Source of wealth: Fidelity
– Age: 60
– Country/territory: United States

Abigail Johnson became chief executive officer of Fidelity Investments in 2014, making her the third generation of her family to run the mutual fund company. She has been chairman since 2016. The Boston-based company was founded by her grandfather, Edward Johnson II, in 1946.

Vagit Alekperov sits at a desk.

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#67. Vagit Alekperov

– Net worth: $21 billion
– Source of wealth: oil, self made
– Age: 72
– Country/territory: Russia

Vagit Alekperov started Lukoil, the largest independent oil company in Russia, in 1991, and today he owns almost a quarter of the company. Lukoil produces oil and gas, mostly in Western Siberia, transports its product through pipelines and ships, and operates refineries and fuel stations in Russia and the United States. Alekperov graduated from the Azerbaijan Oil and Chemistry Institute, worked as an oil rig worker in Azerbaijan and Western Siberia, and was a Soviet deputy minister of the oil and gas industry. He and a partner own a Dutch shipyard, Heesen Yachts.

Colin Zheng Huang speaks at an event.

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#66. Colin Zheng Huang

– Net worth: $21.1 billion
– Source of wealth: e-commerce, self made
– Age: 42
– Country/territory: China

Colin Zheng Huang launched the e-commerce company Pinduoduo, better known as PDD, in 2015. He previously helped set up Google China in 2006. PDD went public in the United States in 2018. In the summer of 2019, he stepped down as chief executive of the online shopping company and lowered his stake. However, he still owns nearly 30% of the company and holds shares that control more than 80% of its voting rights.

Walmart store exterior.

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#65. Lukas Walton

– Net worth: $21.4 billion
– Source of wealth: Walmart
– Age: 36
– Country/territory: United States

Lukas Walton—a grandson of Walmart’s founder, Sam Walton—is a business investor who inherited a large amount of money from his father, who died in a plane crash in 2005. Walton invests in businesses that fight against social ills and environmental problems. He also works as the director of the Walton Family Foundation, which protects the environment and supports education.

The Keyence logo on the screen of a smartphone.

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#64. Takemitsu Takizaki

– Net worth: $21.4 billion
– Source of wealth: sensors, self made
– Age: 77
– Country/territory: Japan

Japanese businessman Takemitsu Takizaki founded Keyence, which designs and develops electronic sensors, bar-code readers, and other components for automated factory systems. The products are used by Toyota and Toshiba. Takizaki stepped down from his position as chairman in 2015 but still serves as an honorary chairman. Before Keyence, he reportedly launched two businesses that went bankrupt, making him intent on keeping the sensor company debt-free.

Michael Hartono speaks into a microphone.


#63. Michael Hartono

– Net worth: $22.1 billion
– Source of wealth: banking, tobacco
– Age: 83
– Country/territory: Indonesia

Michael Hartono’s wealth is in the Djarum Group, a conglomerate he controls with his brother Robert Budi Hartono. The brothers inherited Djarum from their father. It is a major tobacco and clove cigarette manufacturer in Indonesia and holds stakes in banking, telecommunications, electronics, real estate, and investment companies. Hartono plays professional bridge, a game he learned as a child during the Japanese occupation of Indonesia in World War II.

Cyrus Poonawalla at event.

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#62. Cyrus Poonawalla

– Net worth: $22.4 billion
– Source of wealth: vaccines
– Age: 81
– Country/territory: India

In 1966, Cyrus Poonawalla started the Serum Institute of India, which makes more doses of vaccines than any other company in the world—1.5 billion a year, including those for the flu, polio, and measles. During the COVID-19 pandemic, Serum has entered into various partnerships to make COVID-19 vaccines, including Covidshield, a vaccine Oxford University and AstraZeneca developed.

Harold Hamm attends event.

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#61. Harold Hamm and family

– Net worth: $22.4 billion
– Source of wealth: oil and gas, self made
– Age: 76
– Country/territory: United States

Harold Hamm was born in 1945 in Oklahoma, the youngest of his sharecropper parents’ 13 children. Though he grew up in difficult circumstances, Hamm eventually became successful in the oil industry. In 1967, he established the oil company Continental Resources, where he was chief executive until the end of 2019. Additionally, Hamm co-founded the Domestic Energy Producers Alliance, of which he is chairman. He was a key donor to Donald Trump’s presidential campaign efforts in 2016 and 2020.

Workers in a Djarum cigarette factory.

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#60. R. Budi Hartono

– Net worth: $23 billion
– Source of wealth: banking, tobacco
– Age: 81
– Country/territory: Indonesia

R. Budi Hartono, along with his brother Michael Hartono, is the co-owner of the cigarette maker Djarum Group. Their father, Oei Wei Gwan, started the business—and the sons who took over and modernized the company after its cigarette factory was nearly destroyed by fire and their father died in 1963. Now, Djarum Group produces almost one-fifth of cigarettes made in Indonesia. Additionally, the Hartono brothers are the largest shareholders in the nation’s largest bank, Bank Central Asia.

Guillaume Pousaz speaks at summit.

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#59. Guillaume Pousaz

– Net worth: $23 billion
– Source of wealth: fintech, self made
– Age: 41
– Country/territory: Switzerland

After starting to program at the young age of 8 and studying at HEC Lausanne and Ecole Polytechnique, Guillaume Pousaz founded the payments company in 2012. Since then, has grown to have over 1,500 staffers in almost 20 countries. In addition, Pousaz invests in startups and also mentors them. He is also a philanthropist who aims to improve education, by improving educational outcomes and access to education.

Susanne Klatten.

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#58. Susanne Klatten

– Net worth: $23 billion
– Source of wealth: BMW, pharmaceuticals
– Age: 60
– Country/territory: Germany

Susanne Klatten, who holds about one-fifth of automaker BMW’s shares, inherited her wealth from her father, German industrialist Herbert Quandt. She also owns Altana AG, a pharmaceutical and specialty chemicals company. In 2007, she had an extramarital affair with a Swiss businessman who defrauded her of $10 million and tried to blackmail her. The businessman was convicted of extortion and sentenced to prison for blackmail in 2009.

Aerial view of dirt field with rows and a truck driving on the road beside it.

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#57. Germán Larrea Mota Velasco and family

– Net worth: $23.7 billion
– Source of wealth: mining
– Age: 69
– Country/territory: Mexico

Mexico’s Germán Larrea Mota Velasco owns the controlling share of the country’s biggest copper mining company, Grupo México. He is president and chief executive of the company, which also operates in Peru and the United States and has diversified into infrastructure and rail transportation. In 2014, the company came under criticism after a copper mine spill in Sonora contaminated the local water supply in what is considered the largest environmental spill in Mexico’s history.

Leonid Mikhelson.

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#56. Leonid Mikhelson

– Net worth: $24.4 billion
– Source of wealth: gas, chemicals, self made
– Age: 67
– Country/territory: Russia

Leonid Mikhelson started out as a construction foreman on a gas pipeline project in Siberia and today heads Novatek, which produces about 10% of Russia’s natural gas. He is Novatek’s largest shareholder, with a 25% stake. He also owns a sizable stake in Silbur, a petrochemical company. His business partner in both companies is Gennady Timchenko, a businessman with ties to Russian President Vladimir Putin.

Shiv Nadar in an office.

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#55. Shiv Nadar

– Net worth: $24.4 billion
– Source of wealth: software services, self made
– Age: 77
– Country/territory: India

Shiv Nadar is a co-founder of HCL Technologies, which started in 1976 and is now a global technology giant that offers software products, platforms, and services to business and industry. The company is known for hiring high school graduates and giving them on-the-job training. In July 2020, Nadar turned over the position of HCL chairman to his daughter. The Shiv Nadar Foundation, which he started in 1994, is focused on improving access to education.

Masayoshi Son speaks at an event.

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#54. Masayoshi Son

– Net worth: $24.5 billion
– Source of wealth: internet, telecom, self made
– Age: 65
– Country/territory: Japan

Masayoshi Son runs SoftBank Group, a mobile telecom and investment giant, which he founded in 1981. SoftBank invested in lucrative startups like Yahoo, and today has major holdings in Uber and DoorDash. Son is its biggest shareholder, with a 26% stake. In June 2020, SoftBank announced it was launching a $100 million fund to invest in entrepreneurs of color.

Thomas Peterffy.

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#53. Thomas Peterffy

– Net worth: $24.8 billion
– Source of wealth: discount brokerage, self made
– Age: 78
– Country/territory: United States

Thomas Peterffy owns an estimated 75% of Interactive Brokers, a company he founded in 1993. He is also chairman of the global automated brokerage. And he helped found the Boston Options Exchange, an options-trading company. Peterffy owns several horses and a lavish waterfront mansion in Palm Beach, Florida, along with other luxury properties. He emigrated from Hungary at age 21, unable to speak English, and got a job doing computer programming. He designed automated stock trading formulas and bought a seat on the American Stock Exchange before launching Interactive Brokers.

Vladimir Lisin.

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#52. Vladimir Lisin

– Net worth: $25.4 billion
– Source of wealth: steel, transport, self made
– Age: 66
– Country/territory: Russia

As a young man, Vladimir Lisin was an electrical fitter in a Siberian coal mine and a steelworker. He is now chairman of NLMK Group, Russia’s biggest manufacturer of steel products. He also owns the country’s biggest freight rail operator, as well as port facilities and shipping companies. He built a giant shooting range complex north of Moscow and heads up several firearms-related organizations.

MacKenzie Scott with now ex-husband Jeff Bezos.

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#51. MacKenzie Scott

– Net worth: $25.8 billion
– Source of wealth: Amazon
– Age: 52
– Country/territory: United States

MacKenzie Scott is the ex-wife of Amazon founder and chief executive Jeff Bezos. When they divorced in 2019, she became one of the world’s wealthiest women. She won a quarter of Bezos’ Amazon shares in their settlement, a 4% stake worth upward of $35 billion. The stake has since grown to be valued at approximately $68 billion.

Vladimir Potanin speaks at event.

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#50. Vladimir Potanin

– Net worth: $26.4 billion
– Source of wealth: metals, self made
– Age: 61
– Country/territory: Russia

Vladimir Potanin originally bought shares in Norilsk Nickel and now owns more than one-third of the metals giant. He is credited with devising Russia’s so-called loans-for-shares program, under which banks and businesses loaned money to the government, secured by state-owned natural resource companies. But the government could not repay the loans, so the lenders got large stakes in those firms. Potanin has holdings in pharmaceutical company Petrovax Pharm and is the developer of a Russian ski resort, Rosa Khutor. He was a deputy prime minister to former Russian President Boris Yeltsin and has ties to current Russian President Vladimir Putin.

Klaus-Michael Kuehne portrait seated.

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#49. Klaus-Michael Kuehne

– Net worth: $26.5 billion
– Source of wealth: shipping
– Age: 85
– Country/territory: Germany

Klaus-Michael Kuehne serves as honorary chairman of Kuehne + Nagel International AG, a Swiss shipping and sea freight giant company co-founded by his grandfather in 1958. Kuehne also owns a sizable stake in Hapag-Lloyd, a German container shipping business, and a minority stake in the second-tier soccer team Hamburger SV.

Ma Huateng speaks at event.

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#48. Ma Huateng

– Net worth: $26.8 billion
– Source of wealth: internet media, self made
– Age: 51
– Country/territory: China

Ma Huateng, better known as Pony Ma, is chairman of Tencent Holdings, a Chinese internet giant. Along with its popular WeChat and QQ messaging systems, Tencent has shares of the music-streaming service Spotify and Tesla electric cars. Pony worked in research and development of internet paging for a Chinese telecommunications provider in China before co-founding Tencent with four partners in 1998.

Andrey Melnichenko at business forum.

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#47. Andrey Melnichenko

– Net worth: $27 billion
– Source of wealth: coal, fertilizers, self made
– Age: 50
– Country/territory: Russia

Until the middle of 2022, Andrey Melnichenko owned fertilizer company EuroChem and coal producer SUEK. But a day before the EU imposed sanctions on hom, Melnichenko ceded his ownership to his wife. Melnichenko started his first business, a currency exchange, in the 1990s. After the Soviet Union’s fall in 1993, he and two partners created MDM Bank, which by 2022 would become one of the biggest non-government banks in Russia. At that time, Melnichenko partnered with businessman Sergei Popov to start three companies: steel pipe manufacturer TMK, EuroChem, and SUEK.

Gina Rinehart attends event.

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#46. Gina Rinehart

– Net worth: $27 billion
– Source of wealth: mining
– Age: 68
– Country/territory: Australia

The richest person in Australia, Gina Rinehart is the daughter of iron ore magnate and explorer Lang Hancock. She built up her late father’s company Hancock Prospecting after she became executive chairman in 1992. She also is the country’s second largest producer of cattle, with a portfolio of ranches and cattle stations across the country.

Exterior of Lidl store.

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#45. Dieter Schwarz

– Net worth: $27.7 billion
– Source of wealth: retail
– Age: 83
– Country/territory: Germany

Dieter Schwarz inherited the Schwarz Group, the largest food retailer in Europe, from his father, who got his start in the wholesale fruit business in 1930. Schwarz Group consists of the supermarket chain Lidl and the discount chain Kaufland. Schwarz, an extremely private person with few details of his life known publicly, stepped down from the group’s management in 1999.

Miriam Adelson speaks onstage at event.

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#44. Miriam Adelson and family

– Net worth: $28 billion
– Source of wealth: casinos
– Age: 77
– Country/territory: Israel, United States

After earning her bachelor of science and a medical degree, Israeli-born Miriam Adelson (née Farbstein) became a physician and married another physician, and they had two children together. They eventually divorced, and when Miriam was in the U.S. for an exchange program in 1986, she and businessman Sheldon Adelson met. They married five years later, by which time, he had purchased the Sands Hotel and Casino in Las Vegas, and built The Venetian, a the casino and resort hotel. He died in 2021, leaving her with a stake of 56.7% in the Las Vegas Sands casino group. The Adelsons were Republican Party megadonors, supported medical research and Israel, and fought against anti-Semitism.

Jim Simons seated portrait.

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#43. Jim Simons

– Net worth: $28.1 billion
– Source of wealth: hedge funds, self made
– Age: 84
– Country/territory: United States

Jim Simons was a university mathematics professor who started trading stocks in 1978. Four years later he launched his quantitative hedge fund, Renaissance Technologies, or RenTech. Using math and data, Simons designed analytical models to detect market fluctuations and trends and algorithms to make trading decisions. He retired in 2010. During the Vietnam War, Simons served as a codebreaker for U.S. forces.

Lee Shau Kee speaks at event.

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#42. Lee Shau Kee

– Net worth: $28.1 billion
– Source of wealth: real estate, self made
– Age: 94
– Country/territory: Hong Kong

Lee Shau Kee made his fortune in real estate, starting Henderson Land Development in 1976. The company has holdings in hotels, natural gas, retail, and agricultural land, as well as commercial and residential property in Hong Kong and mainland China. Lee was born in China but left for Hong Kong as a young man in 1948 on the eve of the Communist Revolution. In Hong Kong, he worked as a gold and currency trader before getting into real estate. He retired in 2019 and turned control of the company over to his two sons.

Tadashi Yanai speaks at event.

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#41. Tadashi Yanai and family

– Net worth: $28.4 billion
– Source of wealth: fashion retail, self made
– Age: 73
– Country/territory: Japan

Japan’s Tadashi Yanai is chief executive, chairman, and the biggest shareholder of Fast Retailing, parent of the popular clothing company Uniqlo. Fast Retailing is Asia’s largest clothing retailer. The first Uniqlo store opened in 1984, and now there are more than 2,000 stores in some 20 countries. Yanai lives in a $50 million house outside Tokyo and owns two golf courses in Hawaii. He was born in southern Japan, where his father owned a clothing store and the family lived upstairs.

Stephen Schwarzman speaks on panel.

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#40. Stephen Schwarzman

– Net worth: $28.5 billion
– Source of wealth: investments, self made
– Age: 75
– Country/territory: United States

Stephen Schwarzman is chairman and chief executive of Blackstone, a private equity firm he co-founded in 1985. One of the world’s biggest investment firms, Blackstone has $564 billion in assets under management. Schwarzman donated $350 million to the Massachusetts Institute of Technology to set up the Schwarzman College of Computing and $150 million to Yale University for the Schwarzman Center, a space for student programs and the arts. He also launched a program called Schwarzman Scholars for international students to study in China.

Stock market chart.

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#39. Jeff Yass

– Net worth: $30 billion
– Source of wealth: trading, investments, self made
– Age: 64
– Country/territory: United States

After studying math and economics at SUNY Binghamton, Jeff Yass started options trading while studying at the business school at NYU. By the time he turned 30, he had made $1 million. Yass also founded, along with five other people, the Susquehanna International Group, a financial trading firm with offices in Shanghai, Tokyo, San Francisco, Dublin, Chicago, and New York.

Len Blavatnik poses for photo on yacht.

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#38. Len Blavatnik

– Net worth: $30 billion
– Source of wealth: music, chemicals, self made
– Age: 65
– Country/territory: United States

Business entrepreneur Len Blavatnik built his fortune in the Russian aluminum and oil industries, then shifted his sights westward and bought the Warner Music Group for $3.3 billion in 2011. His investment company, Access Industries, also has holdings in the chemicals company LyondellBasell. Blavatnik was born in Ukraine, emigrated to the United States, and got an MBA from Harvard University before making his investments in the Soviet Union’s natural resource industries. After getting British citizenship, Blavatnik was knighted by Queen Elizabeth II for his philanthropy.

Alain Wertheimer attends event.

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#36. Alain Wertheimer (tie)

– Net worth: $30.2 billion
– Source of wealth: Chanel
– Age: 74
– Country/territory: France

French luxury brand Chanel is owned by Alain Wertheimer, who serves as its chairman, and his younger brother Gerard. Their grandfather Pierre Wertheimer founded Les Parfums Chanel in 1924 with fragrance maker Coco Chanel. During World War II, she tried to take control of the company by using a law that prohibited Jews from owning businesses. But the family, who had fled Paris, had arranged for a friend to handle their stake during the occupation to prevent such a takeover. Wertheimer owns an art collection with works by Matisse, Rousseau, and Picasso that he does not permit to be photographed or loaned out.

Gerard Wertheimer attends event.

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#36. Gerard Wertheimer (tie)

– Net worth: $30.2 billion
– Source of wealth: Chanel
– Age: 71
– Country/territory: France

Gerard Wertheimer owns the iconic fashion powerhouse Chanel with his older brother Alain. The younger Wertheimer runs the luxury company’s watch division from his home in Geneva. The brothers assumed control of the company in 1996 after the death of their father, Jacques Wertheimer. They also own vineyards in France and California and raise thoroughbred racehorses.

Robin Zeng poses for portrait.

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#35. Robin Zeng

– Net worth: $31.4 billion
– Source of wealth: batteries, self made
– Age: 53
– Country/territory: Hong Kong

Robin Zeng is the founder of Contemporary Amperex Technology, a giant global manufacturer of electric batteries. Its clients include Bosch, Jaguar, Honda, Volvo, Toyota, and Volkswagen. The company is headquartered in Zeng’s hometown of Ningde, a coastal city in China’s Fujian Province.

Ken Griffin speaks at event.

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#34. Ken Griffin

– Net worth: $31.5 billion
– Source of wealth: hedge funds, self made
– Age: 54
– Country/territory: United States

After starting to trade stocks when he was in college, Ken Griffin founded Citadel, an investment firm, in 1991. This firm is now considered to be among the most successful firms in the world that specialize in investments beyond stocks and bonds, such as precious metals, valuable cars and specialized financial instruments. Griffin is also a philanthropist and has donated to support cultural institutions, improve public spaces, reduce violent crime, expand education access, and more.

Li Ka-shing smiles at podium.

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#33. Li Ka-shing

– Net worth: $32.5 billion
– Source of wealth: diversified, self made
– Age: 94
– Country/territory: Hong Kong

Li Ka-Shing left mainland China with his family as a child and got his start in business in 1950, opening a plastics company when he was just 21 years old. He went on to build conglomerates CK Hutchison Holdings Ltd. and CK Asset Holdings Ltd. About a third of his wealth consists of his holdings in Zoom Video Communications, which he began to accumulate in 2013. The video conferencing app’s value soared as employees around the world began working from home during the COVID-19 pandemic. Among private philanthropies run by wealthy people, his Li Ka-Shing Foundation is second in size only to the Bill and Melinda Gates Foundation.

Giovanni Ferrero seated.


#32. Giovanni Ferrero

– Net worth: $33.2 billion
– Source of wealth: Nutella, chocolates
– Age: 58
– Country/territory: Italy

Giovanni Ferrero inherited his family’s confectionery business, launched by his grandfather in 1946. His grandfather had concocted a sweet with molasses, hazelnut oil, and cocoa that was less expensive than chocolate for customers in war-torn Italy. With some tweaks, the sweet came to be what we know today as Nutella. The company expanded into post-war Germany, where it made candy in former Nazi munitions factories. Giovanni Ferrero and his brother Pietro ran the company as co-chief executives for 14 years, but Pietro died in 2011 of a heart attack at age 47. The company owns the brands Tic Tac, Kinder Joy, Baby Ruth, Butterfinger, and its classic Ferrero Rocher chocolates, for which it purchases roughly a third of the world’s hazelnut crop.

Exterior of Aldi store.

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#31. Beate Heister and Karl Albrecht Jr. and family

– Net worth: $33.6 billion
– Source of wealth: supermarkets
– Age:
– Country/territory: Germany

In 1920, the oldest version of what became the Aldi discount grocery chain was started by Karl Albrecht Sr. and Anna Albrecht in Germany. Eventually, their two sons, Theo and Karl, became owners of Albrecht’s grocery store, and by 1953, they had expanded to around 30 supermarkets. The brothers changed the company’s name to Aldi in the 1960s, and then split Aldi into Aldi Nord, managed by Theo, and Aldi Sud, managed by Karl. Aldi Sud eventually expanded internationally, and when Karl died in 2014, his son, Karl Albrecht Jr., and daughter, Beate Heister, each received half his fortune.

Portrait of François Pinault seated.

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#30. François Pinault and family

– Net worth: $33.8 billion
– Source of wealth: luxury goods, self made
– Age: 86
– Country/territory: France

In 1963, France’s François Pinault founded Kering, a luxury holding company that owns brands like Gucci. In 1998, Pinault obtained a majority stake in Christie’s auction house. A high-school drop-out, Pinault is an avid collector of contemporary art. Following the 2019 fire at Notre Dame, he and his son François-Henri, who is married to actress Salma Hayek, pledged 100 million euros to help rebuild the damaged Paris cathedral.

Portrait of Phil Knight.

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#29. Phil Knight and family

– Net worth: $37.4 billion
– Source of wealth: Nike, self made
– Age: 84
– Country/territory: United States

Phil Knight, a former runner at the University of Oregon, started Blue Ribbon Sports, a running shoe company, with his former coach Bill Bowerman in 1962. The company became Nike in 1978. Knight paid $35 to a student at Portland State University to design Nike’s distinctive “Swoosh” logo. Knight retired as chairman in 2016.

Mark Zuckerberg speaks at Facebook event.

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#28. Mark Zuckerberg

– Net worth: $37.7 billion
– Source of wealth: Facebook, self made
– Age: 38
– Country/territory: United States

Mark Zuckerberg created Facebook when he was a student at Harvard. The company went public in 2012, and he has retained a stake of about 15%. Facebook has frequently come under fire for failing to block misinformation. In June 2020, more than 1,000 advertisers boycotted Facebook to protest the company’s lax policing of hate speech and misleading posts from politicians.

Jacqueline Mars attends event.

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#26. Jacqueline Mars (tie)

– Net worth: $38 billion
– Source of wealth: candy, pet food
– Age: 83
– Country/territory: United States

Jacqueline Mars holds one-third of Mars Inc. alongside her brother John. The four children of their late brother hold the balance. Her son Stephen Badger is the company chairman. She also owns a horse farm in Virginia where Olympic equestrians train. Mars was involved in an automobile crash in Virginia in 2013 that killed a passenger in another vehicle. She reportedly admitted to falling asleep at the wheel and was fined $2,500.

Wrigley's spearmint gum and a Mars bar lie side by side.

Johnny Green – PA Images // Getty Images

#26. John Mars (tie)

– Net worth: $38 billion 
– Source of wealth: candy, pet food 
– Age: 87 
– Country/territory: United States

The late Frank Mars founded Mars Inc. in 1911, and today his grandson John Mars holds one-third of the candy giant. The company makes such well-known sweets as Snickers, Twix, and M&Ms. It also owns the Wrigley Co. chewing gum company and Iams pet foods. John Mars lives in Jackson Hole, Wyoming.

Rodolphe Saade in front of CMA CGM container ship.


#25. Rodolphe Saadé and family

– Net worth: $41.4 billion
– Source of wealth: shipping
– Age: 52
– Country/territory: France

After studying commerce and marketing and starting his own water cooler company, Rodolphe Saadé joined his father, Jacques Saadé, at the company he led, Compagnie Maritime d’Affretement. Eventually, this company became CMA CGM, the third-largest shipping-container company in the world. Saade, along with his family, owns nearly three-quarters of CMA CGM.

Portrait of Zhang Yiming.

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#24. Zhang Yiming

– Net worth: $49.5 billion
– Source of wealth: TikTok, self made
– Age: 38
– Country/territory: China

Zhang Yiming founded ByteDance, the software company that developed TikTok and also owns a number of social networking apps within China. Zhang launched the TikTok app under the name Douyin in 2016. Zhang himself loves to make TikTok videos and requires his management team to not only make them as well but to also achieve a set number of “likes.”

David Thomson speaking at event.

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#23. David Thomson and family

– Net worth: $50.1 billion
– Source of wealth: media
– Age: 65
– Country/territory: Canada

David Thomson and his family own several high-profile media companies, including Thomson Reuters, where Thomson is chairman. Thomson, who holds the U.K. title Baron Thomson of Fleet, collects paintings by Pablo Picasso and John Constable, and also is part owner of the NHL’s Winnipeg Jets.

Michael Dell speaking at event.

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#22. Michael Dell

– Net worth: $50.2 billion
– Source of wealth: Dell Technologies, self made
– Age: 57
– Country/territory: United States

Michael Dell started building computers when he was a college student at the University of Texas, where he made $80,000 in sales his freshman year. He dropped out and went into business in 1984, selling $6 million worth of personal computers in his first year. Dell’s wealth also comes from investments he has made in hotels and restaurants through his private firm MSD Capital. He recounted his successes in a book he wrote in 1999, “Direct from Dell: Strategies That Revolutionized the Industry.”

Alice Walton attends event.

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#21. Alice Walton

– Net worth: $58.2 billion
– Source of wealth: Walmart
– Age: 73
– Country/territory: United States

The daughter of Walmart founder Sam Walton, Alice Walton is heavily involved in the arts. One project, the Crystal Bridges Museum of American Art in Bentonville, Arkansas, opened in 2011. She also breeds horses at her ranch in Texas.

Charles Koch standing in doorway.

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#19. Charles Koch (tie)

– Net worth: $58.2 billion
– Source of wealth: Koch Industries
– Age: 87
– Country/territory: United States

The fortune of Charles Koch lies in Koch Industries, a diversified private company with holdings in chemicals and pipelines. His father, Fred Koch, started the business in the oil and gasoline industry, and Charles Koch now owns a 42% stake in the business. His brother David, who died in 2019, held a similarly sized share now held by his widow Julia and their children.

Julia Koch attends event.

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#19. Julia Koch and family (tie)

– Net worth: $58.2 billion
– Source of wealth: Koch Industries
– Age: 60
– Country/territory: United States

Julia Koch is the widow of David Koch, and she inherited his share of Koch Industries when he died in 2019. She sits on the Koch Industries board of directors, and she is head of the David H. Koch Foundation, which makes philanthropic and research-related grants.

Rob Walton speaks at event.

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#18. Rob Walton

– Net worth: $59.2 billion
– Source of wealth: Walmart
– Age: 78
– Country/territory: United States

Rob Walton became chairman of Walmart when his father, founder Sam Walton, died in 1992. Rob and other family members own about half of the retail giant’s stock. Rob retired in June 2015 but is still involved in charitable concerns involving conservation and sustainability.

Amancio Ortega at sporting event.

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#17. Amancio Ortega

– Net worth: $59.6 billion
– Source of wealth: Zara, self made
– Age: 86
– Country/territory: Spain

Amancio Ortega’s fortune comes from the world of retail and fashion. He was a co-founder, with his late ex-wife, in 1975 of Inditex, owner of the Zara retail clothing stores. He has invested heavily in commercial real estate in New York, Madrid, Barcelona, and London and has a 5% stake in the Spanish energy company Enagas. He stepped down as Inditex chairman in 2011

Jim Walton attends event.

Rick T. Wilking // Getty Images

#16. Jim Walton

– Net worth: $60.4 billion
– Source of wealth: Walmart
– Age: 74
– Country/territory: United States

Jim Walton, the youngest son of Walmart’s founder, is chief executive and chairman of Arvest Bank Group, an Arkansas bank controlled by the Walton family. Jim Walton holds 44% of the bank, which has branches in Kansas, Missouri, and Oklahoma. He gave away more than $1 billion of his Walmart stock to philanthropy in 2019.

Zhong Shanshan raises glass at event.

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#15. Zhong Shanshan

– Net worth: $64.2 billion
– Source of wealth: beverages, pharmaceuticals, self made
– Age: 67
– Country/territory: China

Zhong Shanshan is the founder of the bottled water company Nongfu Spring and owner of the vaccine maker Beijing Wantai Biological Pharmacy Enterprise. Both companies went public in 2020, swelling Zhong’s wealth. Due to his low public profile, Zhong is called the “Lone Wolf” in China. As a child, he dropped out of elementary school during the Cultural Revolution, later working in construction and as a newspaper reporter.

Francoise Bettencourt Meyers.

MARTIN BUREAU // Getty Images

#14. Françoise Bettencourt Meyers and family

– Net worth: $66.7 billion
– Source of wealth: L’Oréal
– Age: 69
– Country/territory: France

Françoise Bettencourt Meyers is an heir to the L’Oreal fortune, which she inherited from her mother. In a highly publicized case, Bettencourt Meyers took a close friend of her mother’s to court, accusing the friend of trying to manipulate the older woman out of her wealth. The granddaughter of L’Oreal’s founder Eugene Schueller, Bettencourt Meyers has also written several books on such topics as Jewish-Christian relations. Her family established the Bettencourt Schueller Foundation in the 1980s.

Sergey Brin speaks at event.

Kelly Sullivan // Getty Images

#13. Sergey Brin

– Net worth: $74.5 billion
– Source of wealth: Google, self made
– Age: 49
– Country/territory: United States

Sergey Brin and partner Larry Page founded Google in 1998. Brin remains one of the largest single shareholders in the search engine’s parent company Alphabet. He emigrated to the United States from Russia when he was 6 years old.

Steve Ballmer speaks at Microsoft event.

Sean Gallup // Getty Images

#12. Steve Ballmer

– Net worth: $75.2 billion
– Source of wealth: Microsoft, self made
– Age: 66
– Country/territory: United States

Steve Ballmer is the former chief executive of Microsoft, a company he joined in 1980. He left the tech giant in 2014 and bought the Los Angeles Clippers basketball team for $2 billion. He is a major philanthropist involved in anti-poverty solutions.

Michael Bloomberg speaks at podium.

Brett Carlsen // Getty Images

#11. Michael Bloomberg

– Net worth: $76.8 billion
– Source of wealth: Bloomberg LP, self made
– Age: 80
– Country/territory: United States

Michael Bloomberg first made his money on Wall Street, where he worked for Salomon Brothers. He launched Bloomberg L.P., a financial information and media company, in 1981 and owns nearly 90% of the business. He was mayor of New York City from 2002 to 2013. His extensive philanthropic interests include gun control and tackling climate change. He is also a major donor to Johns Hopkins University, his alma mater.

Larry Page speaks on panel.

Kimberly White // Getty Images

#10. Larry Page

– Net worth: $77.5 billion
– Source of wealth: Google, self made
– Age: 49
– Country/territory: United States

Larry Page started Google with Sergey Brin, whom he met as a graduate student in computer science at Stanford University. Page is no longer chief executive of Google’s parent company, Alphabet, but, like Brin, remains a significant shareholder. He has invested in space exploration and the development of flying electric taxis, and he is a supporter of clean energy, powering his home with fuel cells and geothermal energy.

Carlos Slim Helu attends event.

Chris Hondros // Getty Images

#9. Carlos Slim Helú and family

– Net worth: $86.9 billion
– Source of wealth: telecom, self made
– Age: 82
– Country/territory: Mexico

Mexican business magnate Carlos Slim Helú has extensive holdings in energy, mining, communications, retail, and finance through his Grupo Carso conglomerate. For many years, he owned the country’s former telephone monopoly, Telmex. He founded the art museum Museo Soumaya in Mexico City, helped revitalize the historic city center, and set up the Carlos Slim Foundation to promote education, health, and sports.

Mukesh Ambani speaks at podium.

Hindustan Times // Getty Images

#8. Mukesh Ambani

– Net worth: $92.5 billion
– Source of wealth: diversified
– Age: 65
– Country/territory: India

Mukesh Ambani heads Reliance Industries, India’s giant oil and gas company that was started as a small enterprise by his father. Ambani holds a 42% stake in Reliance, which also owns a 4G wireless network in India. Ambani and his brother divided the family business when their father died in 2002. Ambani also is the owner of a professional cricket team, the Mumbai Indians.

Larry Ellison speaks at event.

Kimberly White // Getty Images

#7. Larry Ellison

– Net worth: $98.8 billion
– Source of wealth: software, self made
– Age: 78
– Country/territory: United States

Larry Ellison co-founded Oracle Software in 1977 and today has extensive real estate holdings, including a Hawaiian island and dozens of properties in Malibu and Lake Tahoe. He remains chairman of Oracle’s board. Ellison also has invested in electric car maker Tesla.

Warren Buffett speaks on panel.

Paul Morigi // Getty Images

#6. Warren Buffett

– Net worth: $101.6 billion
– Source of wealth: Berkshire Hathaway, self made
– Age: 92
– Country/territory: United States

Investor Warren Buffett runs Berkshire Hathaway, a conglomerate that owns dozens of companies like Geico insurance and Duracell batteries. Berkshire Hathaway’s stock is the most expensive, trading on the New York Stock Exchange at more than $300,000 a share before the market plunged in 2020 due to the coronavirus pandemic. Buffett has launched a campaign urging billionaires to give away half their wealth and has vowed to give away nearly all of his fortune.

Bill Gates poses for photo.

JEFF PACHOUD // Getty Images

#5. Bill Gates

– Net worth: $101.6 billion
– Source of wealth: Microsoft, self made
– Age: 67
– Country/territory: United States

Bill Gates co-founded Microsoft, the biggest software business in the world. He stepped down as chairman in 2014 to concentrate on philanthropy. He and his wife are founders of the Bill and Melinda Gates Foundation, the largest private charitable foundation in the world, which addresses a range of issues including the eradication of malaria, reducing child mortality, ending hunger, and promoting sustainable growth. He has donated more than $35 billion in Microsoft stock to the foundation.

Jeff Bezos speaks at event.

MANDEL NGAN // Getty Images

#4. Jeff Bezos

– Net worth: $110.3 billion
– Source of wealth: Amazon, self made
– Age: 58
– Country/territory: United States

The founder of Amazon, Jeff Bezos, is chief executive of the e-commerce giant and holds a stake of more than 11%. He also owns The Washington Post. In his 2019 divorce settlement with ex-wife MacKenzie Scott, she got a 4% stake in Amazon—worth more than $38 billion at the time of the settlement.

Gautam Adani speaks at podium.

Vishal Bhatnagar/NurPhoto via Getty Images

#3. Gautam Adani

– Net worth: $144.7 billion
– Source of wealth: infrastructure, commodities, self made
– Age: 60
– Country/territory: India

A college dropout, Gautami Adani has been compared to business magnates from the Gilded Age of the U.S. like Vanderbilt and Rockefeller. After getting his start in diamond trading, in 1988 Adani set up a commodity trading business that would eventually become Adani Enterprises Limited, or AEL. In 1995, Adani began operating Gujarat’s Mundra Port—India’s highest-volume commercial port. Adani now owns the nation’s biggest private port operator, its largest private producer of thermal power, and its second-largest cement manufacturer. He is also a clean energy investor.

Bernard Arnault stands at podium.

ERIC PIERMONT // Getty Images

#2. Bernard Arnault and family

– Net worth: $160.5 billion
– Source of wealth: LVMH
– Age: 73
– Country/territory: France

France’s Bernard Arnault is chief executive and chairman of the luxury goods giant LVMH Moët Hennessy Louis Vuitton. He began his professional life as a civil engineer but moved into the world of luxury goods in 1984 when he reorganized the Financière Agache holding company, organizing its portfolio around the design house Christian Dior. He became LVMH’s majority shareholder in 1989.

Elon Musk attends Met Gala.

Dimitrios Kambouris/Getty Images for The Met Museum/Vogue

#1. Elon Musk

– Net worth: $192 billion
– Source of wealth: Tesla, SpaceX, self made
– Age: 51
– Country/territory: United States

Elon Musk, who in 2022 bought Twitter for $44 billion, aims to pioneer new, sustainable forms of travel with his electric car maker Tesla, and owns about a fifth of the company. His rocket company SpaceX has been valued at almost $36 billion. At SpaceX, Musk oversees the development of spacecraft, with plans for missions to orbit the earth and travel to other planets. He also launched The Boring Co. to design tunnel technology for use with an all-electric public transportation system. Musk was involved in creating PayPal and made $165 million when it was sold to eBay.

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States scammed out of the most money




Stacker looked at which states were impacted most by scams in 2021 and the amount of money reported as lost using data from the Federal Trade Commission. This list includes all 50 states, Puerto Rico, and Washington D.C.   
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Maybe it was the idea of getting rich in a brand-new investment scheme that got you; maybe it was hearing that your grandson was stuck in jail and needed $2,000 wired to him. (Spoiler alert: It wasn’t really your grandson.) Whatever scam fooled you into opening up your wallet, you’re not alone: The Federal Trade Commission in 2021 received more than 5.7 million reports, including nearly 2.8 million reports of fraud and 1.4 reports of identity theft.

The uptick in scams is partly attributed to an increase in online shopping during the COVID-19 pandemic. “Online shopping and negative reviews” was the second-highest type of scam reported after imposter scams.

In addition to being embarrassing for their victims, scams can also be incredibly costly. In 2021, American consumers lost more than $5.8 billion to fraud. Young people between the ages of 20 and 29 reported losing money to fraud more often than older consumers, although the latter suffered more median losses per scam.

Stacker looked at which states were impacted most by scams in 2021 and the amount of money reported as lost using data from the Federal Trade Commission. This list includes all 50 states, Puerto Rico, and Washington D.C. Locations were ranked by the number of reports filed per 100,000 residents.

You may also like: Retirement scams to watch out for

The city of San Juan on the coast.


#52. Puerto Rico

– Reports per 100K people: 260
– Total reports: 8,315
– Total loss: $6,689,197
– Median loss: $508

Historic buildings and businesses in Deadwood.


#51. South Dakota

– Reports per 100K people: 549
– Total reports: 4,854
– Total loss: $6,828,535
– Median loss: $489

Historic main street in Grand Forks.


#50. North Dakota

– Reports per 100K people: 608
– Total reports: 4,637
– Total loss: $8,897,094
– Median loss: $440

Colorful hot air balloons taking off and landing in a field.


#49. Iowa

– Reports per 100K people: 636
– Total reports: 20,071
– Total loss: $21,219,834
– Median loss: $379

An aerial view of downtown Omaha.


#48. Nebraska

– Reports per 100K people: 697
– Total reports: 13,475
– Total loss: $14,314,521
– Median loss: $450

A large arch made with antlers in Jackson Hole.


#47. Wyoming

– Reports per 100K people: 731
– Total reports: 4,230
– Total loss: $7,751,648
– Median loss: $500

Aerial view of homes in Oklahoma City.


#46. Oklahoma

– Reports per 100K people: 783
– Total reports: 30,996
– Total loss: $26,906,284
– Median loss: $410

Lexington skyline.


#45. Kentucky

– Reports per 100K people: 796
– Total reports: 35,544
– Total loss: $30,598,771
– Median loss: $350

Aerial view of a waterway going through Morgantown.


#44. West Virginia

– Reports per 100K people: 797
– Total reports: 14,287
– Total loss: $10,206,786
– Median loss: $350

Historic buildings in Fayetteville.


#43. Arkansas

– Reports per 100K people: 801
– Total reports: 24,176
– Total loss: $16,692,589
– Median loss: $450

Homes and boats in Bayfield.


#42. Wisconsin

– Reports per 100K people: 803
– Total reports: 46,755
– Total loss: $48,716,758
– Median loss: $390

Aerial view of Missoula from the mountains.


#41. Montana

– Reports per 100K people: 806
– Total reports: 8,612
– Total loss: $9,582,342
– Median loss: $436

A large ornate brick building, a church and other small businesses on a street in Mankato.


#40. Minnesota

– Reports per 100K people: 809
– Total reports: 45,599
– Total loss: $60,317,592
– Median loss: $482

An aerial view of Boise sandwiched between a river and some hills.


#39. Idaho

– Reports per 100K people: 809
– Total reports: 14,464
– Total loss: $16,949,046
– Median loss: $396

White adirondack chairs overlooking the harbor in Maine.


#38. Maine

– Reports per 100K people: 821
– Total reports: 11,035
– Total loss: $9,708,190
– Median loss: $400

Aerial view of downtown Salt Lake City.


#37. Utah

– Reports per 100K people: 823
– Total reports: 26,373
– Total loss: $37,346,855
– Median loss: $500

Wichita skyline.


#36. Kansas

– Reports per 100K people: 845
– Total reports: 24,615
– Total loss: $19,916,988
– Median loss: $429

Colorful two story homes in Vermont.


#35. Vermont

– Reports per 100K people: 848
– Total reports: 5,292
– Total loss: $10,038,458
– Median loss: $337

Surfers heading to the ocean.


#34. Hawaii

– Reports per 100K people: 851
– Total reports: 12,051
– Total loss: $22,502,406
– Median loss: $620

Aerial view of college campus.


#33. Indiana

– Reports per 100K people: 861
– Total reports: 57,988
– Total loss: $46,881,596
– Median loss: $400

Downtown Detroit from across the river.


#32. Michigan

– Reports per 100K people: 881
– Total reports: 87,996
– Total loss: $83,309,393
– Median loss: $400

Las Cruces with mountains in the background.


#31. New Mexico

– Reports per 100K people: 888
– Total reports: 18,613
– Total loss: $23,200,453
– Median loss: $500

Downtown Jackson in the evening.


#30. Mississippi

– Reports per 100K people: 906
– Total reports: 26,958
– Total loss: $23,422,036
– Median loss: $400

Homes and boats on the water in Portsmouth.


#29. New Hampshire

– Reports per 100K people: 914
– Total reports: 12,429
– Total loss: $13,660,810
– Median loss: $450

Historic buildings and churches in New Britain.


#28. Connecticut

– Reports per 100K people: 917
– Total reports: 32,686
– Total loss: $40,886,958
– Median loss: $460

Homes nestled in the trees in Branson.


#27. Missouri

– Reports per 100K people: 953
– Total reports: 58,485
– Total loss: $52,266,861
– Median loss: $361

Downtown Portland from a footbridge across the water.


#26. Oregon

– Reports per 100K people: 970
– Total reports: 40,908
– Total loss: $65,371,881
– Median loss: $500

Cincinnati skyline and bridge in foreground.


#25. Ohio

– Reports per 100K people: 976
– Total reports: 114,140
– Total loss: $86,270,313
– Median loss: $375

Aerial view of homes surrounded by colorful fall trees.


#24. Massachusetts

– Reports per 100K people: 980
– Total reports: 67,515
– Total loss: $91,319,599
– Median loss: $500

A bustling street in Hollywood.


#23. California

– Reports per 100K people: 991
– Total reports: 391,517
– Total loss: $820,858,149
– Median loss: $600

Homes on the water in Tacoma with mountains in the background.


#22. Washington

– Reports per 100K people: 1,013
– Total reports: 77,128
– Total loss: $135,661,564
– Median loss: $500

Aerial view of downtown Wilmington with a bridge in the distance.


#21. North Carolina

– Reports per 100K people: 1,036
– Total reports: 108,698
– Total loss: $93,015,171
– Median loss: $446

Palm tree-lined street in downtown Phoenix.


#20. Arizona

– Reports per 100K people: 1,065
– Total reports: 77,534
– Total loss: $116,030,737
– Median loss: $515

Homes and a red boat on the water.


#19. Rhode Island

– Reports per 100K people: 1,066
– Total reports: 11,289
– Total loss: $11,564,650
– Median loss: $447

Chicago skyline at sunset.


#18. Illinois

– Reports per 100K people: 1,078
– Total reports: 136,640
– Total loss: $128,953,942
– Median loss: $450

A bridge over Austin and downtown in the background.


#17. Texas

– Reports per 100K people: 1,080
– Total reports: 313,044
– Total loss: $369,437,769
– Median loss: $500

Downtown New York City skyline.


#16. New York

– Reports per 100K people: 1,083
– Total reports: 210,749
– Total loss: $280,882,468
– Median loss: $500

Historic row homes in Portsmouth.


#15. Virginia

– Reports per 100K people: 1,099
– Total reports: 93,763
– Total loss: $112,898,996
– Median loss: $500

Aerial cityscape of homes in Dover.


#14. New Jersey

– Reports per 100K people: 1,107
– Total reports: 98,316
– Total loss: $122,175,462
– Median loss: $508

Aerial view of Aspen at night with huge mountains in the background.


#13. Colorado

– Reports per 100K people: 1,119
– Total reports: 64,464
– Total loss: $87,975,013
– Median loss: $479

A long line of chairs and umbrellas on the beach.


#12. South Carolina

– Reports per 100K people: 1,149
– Total reports: 59,177
– Total loss: $46,428,921
– Median loss: $400

Colorful homes and a long pier on the water.


#11. Alaska

– Reports per 100K people: 1,156
– Total reports: 8,458
– Total loss: $13,078,284
– Median loss: $600

Aerial view of Downtown Gatlinburg in a green valley.


#10. Tennessee

– Reports per 100K people: 1,157
– Total reports: 79,012
– Total loss: $62,602,651
– Median loss: $400

A busy downtown New Orleans in the evening.


#9. Louisiana

– Reports per 100K people: 1,193
– Total reports: 55,456
– Total loss: $30,022,528
– Median loss: $422

Downtown Philadelphia skyline.


#8. Pennsylvania

– Reports per 100K people: 1,205
– Total reports: 154,313
– Total loss: $120,888,991
– Median loss: $400

Aerial view of downtown Mobile.


#7. Alabama

– Reports per 100K people: 1,217
– Total reports: 59,669
– Total loss: $44,712,880
– Median loss: $423

Drone view of umbrellas on the beach and street in Fort Lauderdale.


#6. Florida

– Reports per 100K people: 1,370
– Total reports: 294,328
– Total loss: $331,282,322
– Median loss: $532

Bright neon lights at the entrance to Reno.


#5. Nevada

– Reports per 100K people: 1,407
– Total reports: 43,339
– Total loss: $69,551,003
– Median loss: $616

Downtown Wilmington on the river.


#4. Delaware

– Reports per 100K people: 1,410
– Total reports: 13,726
– Total loss: $14,135,903
– Median loss: $500

Aerial view of Annapolis on the water.


#3. Maryland

– Reports per 100K people: 1,415
– Total reports: 85,568
– Total loss: $93,976,802
– Median loss: $518

Aerial view of historic downtown Macon.


#2. Georgia

– Reports per 100K people: 1,421
– Total reports: 150,898
– Total loss: $112,980,173
– Median loss: $500

Washington D.C. city skyline.


#1. Washington DC

– Reports per 100K people: 1,701
– Total reports: 12,004
– Total loss: $10,207,425
– Median loss: $500

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