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Jeff Bezos, Elon Musk head Forbes' list of billionaires; Warren Buffett drops out of Top 5

Jeff Bezos, Elon Musk head Forbes' list of billionaires; Warren Buffett drops out of Top 5

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The great Warren Buffett is a skilled investor who is studied, analyzed, and imitated by many. But according to Business Insider, most people already have what Buffett has used to generate his immense wealth.

With his wealth further fueled by massive gains made amid the global coronavirus pandemic, Jeff Bezos retained the top spot on Forbes’ annual billionaires list.

In 2020, a year riddled with challenges brought on by a worldwide health crisis, the Amazon CEO saw his net worth increase by $64 billion, from $113 billion to $177 billion.

Tesla CEO and co-founder Elon Musk claimed the second spot, a dramatic climb from his 31st ranking last year, according to Forbes magazine’s 2021 list, which was released Tuesday. Musk’s worth is estimated at $151 billion.

Bernard Arnault, a French billionaire and the CEO of LVMH, nearly doubled his fortune. He is ranked in third place. Microsoft co-founder Bill Gates was ranked fourth, while Facebook creator Mark Zuckerberg rounded out the top five.

Berkshire Hathaway CEO Warren Buffett of Omaha is the world’s sixth-richest person, worth $96 billion. This is the first year since 1993 that he did not appear in the top five, Forbes said. Buffett was No. 4 on the 2020 list. He has given much of his stock to charities.

The world’s richest people collectively increased their net worth by $5 trillion in 2020, a year that also saw millions of Americans suffer from unemployment. Between March 2020 and February 2021, 80 million Americans lost their jobs with roughly 8 million living below the poverty line from June to November 2020.

There were also 493 new billionaires forged in the last year, Forbes revealed. In total, the list includes 2,755 billionaires.

Copyright 2021 Tribune Content Agency.

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